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 bill would force the rich to declare their assets at current value, unlike the old law, which allowed them to report assets at their original purchase price.
August 22
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The Empire State is expanding a tax break that allows smaller companies to circumvent the $10,000 limit on state and local tax deductions.
August 19
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To expand the affordability of energy-efficient vehicles for U.S. consumers, the law made changes to the tax credit for all-electric cars and hybrid plug-ins.
August 19
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Michael Cohen, who was sentenced to three years in prison for violating campaign-finance laws for the former president, criticized New York prosecutors for their leniency with a former colleague.
August 19
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The service's Appeals office is asking taxpayers and tax pros to weigh in on its final guidelines for use of its video meeting option.
August 19
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The chair of the Ways & Means Oversight subcommittee sent a letter asking for details from the IRS on how it will enforce tax law with new funding.
August 18
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The research and development tax credit for startup businesses is going from $250,000 to $500,000 per year.
August 18
