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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Twenty and out; stop snapping; agent for change; and other highlights of recent tax cases.
March 31
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A district court has vacated IRS Notice 2016-66, which designated micro-captive insurance arrangements as “transactions of interest,” and thus reportable.
March 31
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Backlogs at the IRS and bearing bad news can be challenging, but it’s no more than preparers expected.
March 31
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The service has been auditing the poorest wage earners more than higher-earning taxpayers, according to an updated report.
March 30
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The NTA issued a directive calling on the service to implement scanning technology as a way to reduce the backlog of unprocessed tax returns by 2023.
March 30
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The House overwhelmingly passed legislation that would expand the tax benefits for retirement accounts to bolster the savings of Americans.
March 30
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Ending tax-free wealth transfers through the longstanding step-up in basis loophole is among the proposals.
March 29
