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 doesn't collect data on taxpayers' race or ethnicity, but some of its methods could lead to disparities in its audit rate.
May 23
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Tourists are expected to generate a record $4.9 billion in sales and other tourism-related tax revenue in the current fiscal year, a 16% jump from 2020.
May 23
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President Biden's son had been scheduled to go on trial on June 20 on charges he failed to pay $1.4 million in taxes from 2016 to 2019.
May 23
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They have oft-cited tax advantages, but the available research raises alarms about fees, interest rates and investing in assets other than cash.
May 22
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The program with third-party tax vendors will continue for another five years despite the IRS's recent Direct File pilot test.
May 22
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Testifying at a London court from a Danish prison via a video call, Sanjay Shah insisted that his controversial so-called Cum-Ex trades were lawful and that any rumors circulated in the industry were merely due to jealousy.
May 22
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If the current trend continues, more than 96,000 residents making a combined $19.2 billion in adjusted gross income are set to leave the state annually by 2030.
May 22
