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 Internal Revenue Service issued an unusual public apology to the hedge fund manager for failing to protect his confidential tax data from being stolen and leaked to the media by a contractor now in prison.
June 25
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Middle-class residents in these states pay a smaller percentage of their paychecks to taxes.
June 25
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Sen. Bernie Sanders and Ed Markey are introducing legislation to impose a 95% windfall tax on the excess profits of large corporations that are overcharging for products.
June 24
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The Internal Revenue Service switched over from focusing its audits on taxpayers earning $10 million or more to those earning $400,000 or more after passage of the Inflation Reduction Act.
June 24
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Many plan participants told the U.S. Government Accountability Office they didn't understand their four main options — or the potential tax consequences.
June 24
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Former Warburg banker Christian Olearius has been found permanently unfit to stand trial, so the court dropped the case.
June 24
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The Treasury Department provided formal notification to Russian authorities that it's partially suspending a tax treaty as relations worsen over the war in Ukraine.
June 21
