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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Depend on nothing; love, law and the slammer; financial whizzes; and other highlights of recent tax cases.
October 5
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Among the items now stalled are a measure to extend federal banking protections to marijuana companies operating in states where the drug is legal and negotiations to restore tax breaks for business spending on research and development.
October 5
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The service is cautioning taxpayers against claiming exaggerated deductions for purported donations of artwork, as it sees a rise in such schemes.
October 5
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The TE/GE Division didn't provide satisfactory answers to many of the questions it received from taxpayers, according to a new report.
October 5
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The service has been working hard to implement the dozens of tax provisions contained in last year's Inflation Reduction Act, according to a new report.
October 5
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The service is reducing the annual cost of a Preparer Tax Identification Number after a court ruled that the charge was too high.
October 4
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The 2022 law created two new credit delivery mechanisms, allowing governments, nonprofits and other entities to take advantage of the credits.
October 4
