Tax
Tax News & IRS Insights for Accounting Professionals
Accounting Today delivers news and analysis for accounting and tax professionals on federal and state tax developments, IRS guidance,information reporting, and operational implications for practices and clients. Our coverage focuses on legislative and procedural shifts that tax practitioners must monitor in planning, compliance, and advisory contexts.
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With Congress preparing to reconvene in early September, Senate Majority Leader William H. Frist said a vote to fully repeal the estate tax will be tops on the to-do list.
September 1 -
Reports are that MCI, formerly WorldCom Inc., is close to a settlement that would pay out $315 million to 14 states and the District of Columbia in order to settle back tax claims.
August 31 -
The Internal Revenue Service will offer special relief to taxpayers in the disaster areas struck by Hurricane Katrina.
August 31 -
The 12th meeting of the President's Advisory Panel on Federal Tax Reform will be held on Sept. 15 in Washington.
August 31 -
Minnesota's Department of Revenue will give residents who have used abusive tax shelters until Jan. 31 to amend their tax returns without facing new penalties passed during the 2005 special legislative session.
August 29 -
The 11th meeting of the President's Advisory Panel on Federal Tax Reform will be held on Sept. 8 in Washington.
August 28 -
Specifics of a deal are being hammered out between federal prosecutors and KPMG LLP, and the name of former Securities and Exchange Commission Chairman Richard Breeden is being floated to serve as in independent monitor of the firm's future activities.
August 25