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 founder of a company charged with conspiring to defraud the government was arrested this week crossing the border from Mexico to the United States near Laredo, Texas, the Department of Justice said.
October 28 -
Liberty Tax Service marked a milestone this week as the company officially welcomed its thousandth Liberty franchise entity. In the last two tax seasons, Liberty Tax Service has doubled the number of tax returns prepared in outlets throughout the U.S. and Canada. Less than 50 franchise companies have more than 1,000 franchisees on Entrepreneur magazine's list of top 500 franchise organizations in the world. "This year has been an exhilarating time of record growth in many areas for Liberty Tax. As we hit the mark of 1,000 franchisees in our operating system, we continue our quest and drive to be the No. 1 tax company in the industry," said John Hewitt, chief executive and founder of Liberty Tax Service. For the fourth consecutive year, Accounting Today named Hewitt one of the Top 100 Most Influential People in the tax industry. This year, Entrepreneur magazine ranked Liberty Tax Service as the ninth fastest growing franchise opportunity, one of the top 20 low-investment opportunities, and No. 28 on its overall list of best franchises. In March, Accounting Today magazine ranked Liberty among the fastest growing on its list of the Top 100 Tax & Accounting Firms.
October 26 -
The Internal Revenue Service has issued Notice 2004-71, providing procedures for persons required to prepare Form 1099-DIV and other information reporting with respect to dividends from foreign corporations and for individuals receiving such forms.
October 25 -
The American Jobs Creation Act of 2004, signed into law by President Bush last Friday, seems to have achieved its main goal of getting the European Union to lift $4 billion worth of sanctions on U.S. goods.
October 25 -
President Bush on Friday quietly signed the American Jobs Creation Act of 2004 into law, while flying on Air Force One to a campaign appearance in Pennsylvania.
October 24 -
As part of aggressive expansion plans, Fiducial, a provider of business outsourcing services to small businesses and entrepreneurs, has gained a foothold in the Midwest with the acquisition of Indianapolis-based Frontier CPA Group LLP.
October 21 -
The Internal Revenue Service Appeals Division has tightened the guidelines under which it will settle cases with taxpayers that participated in certain abusive transactions, the agency advised this week.
October 21