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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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 -
A Council On State Taxation representative told the National Conference of State Legislatures they should expect a hearing before the Senate Finance Committee this fall.
August 23 -
Although other states have reportedly considered the strategy, Mississippi is expected to be the first to file criminal charges against Big Four firm KPMG, in connection with benefit tax work the company performed for WorldCom.
August 22 -
A recent report from Government Accountability Office says that the Internal Revenue Service needs to establish a more "results-oriented approach" to reducing the tax gap -- the difference between taxes owed and taxes paid in the country.
August 21