Tax News

Fifteen states are reducing either individual or corporate income taxes this year, with some states trimming both individual and corporate taxes, among 34 states starting the year with significant tax changes.

In the fiscal year ending in July 2023, Intuit received $106 million in federal research and experimentation credits, which amounted to about 4% of its total R&D expenses.

The double taxation treaty between the U.S. and Hungary has been terminated as of Monday.

Narrower criteria reduced the number of qualifying models from about two dozen. The new rules exclude from the tax credit vehicles that use battery components made by Chinese manufacturers.

What do these changes mean for taxpayers and how can accountants help manage the impact?

The Internal Revenue Service needs to make improvements to protect the health and safety of employees working at an underground file storage site, where the perils include falling rocks and broken ladders.

The Internal Revenue Service and Treasury plan to propose regulations on a requirement for a product identification number, and they're asking for comments ahead of time on the PIN requirement.

Accounting Today's annual survey reveals firms' expectations, worries and plans for the next 12 months.

Good-bye, sailor; concrete evidence; lack of protection; and other highlights of recent tax cases.

The Treasury Department and the Internal Revenue Service issued guidance for producers of clean electricity and other forms of renewable energy if they begin constructing projects next year that fall short of the necessary requirements for domestically manufactured components.