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 service has slightly revised its 2014 guidance on the treatment of virtual currency to reflect the fact that some countries now accept Bitcoin as legal tender.
April 24
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From a bag of used clothing to artwork worth millions, donations can get a tax deduction — the complications arise when dealing with substantiation requirements.
April 24
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The worst five states had an average effective total tax rate on the median U.S. household of 14.31%.
April 24
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An alleged effort by the auction house to help art collectors avoid paying sales tax on purchases was "far more extensive ... than previously known."
April 24
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Companies (and accounting firms!) looking for buyers should keep these documents handy.
April 23
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House GOP leaders also called for the Justice Department to investigate allegations by an IRS whistleblower involving Hunter Biden.
April 21
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The case revolves around Cum-Ex, a strategy that took advantage of a loophole in how Germany collected dividend tax.
April 21
