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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Residents of New York, Virginia and 11 other states could end up with a surprise tax hit of hundreds of dollars next year on forgiven student loans.
August 29
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Concerns have mounted over the last few days about the tax ramifications of President Biden's forgiveness of student loan debt.
August 26
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The California Small Business Relief Act established the tax credit, largely in reaction to the $10,000 limit on the state and local tax deduction under the Tax Cuts and Jobs Act.
August 26
BPM LLP -
Alexandru Bittner v. United States is about some of the tax and compliance rules the U.S. slaps on its own expatriates.
August 26
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The billions in student loan debt forgiveness announced by the Biden Administration will be exempt from federal taxation but could be taxable at the state level in more than a dozen states — a hiccup many states are expected to quickly handle.
August 26
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Plus Sovos acquired TOC Biometrics; Avalara and Xero are cooperating on an automated sales tax solution; and other news and updates from the world of accounting technology.
August 26
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Turn Two-timer; framed; the 30% solution; and other highlights of recent tax cases.
August 25
