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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Return of an audit; transforming tax proposals; virtual guidance; and other highlights from our favorite tax bloggers.
March 29
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The service had denied deductions for eco-friendly model home because of occasional personal use by the owners.
March 29
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The U.S. Federal Trade Commission has filed suit accusing TurboTax of overstating just how free its free filing options are, though Intuit denies the charge and said it will fight the case.
March 29
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Investors and their CPAs need to be aware of the depreciation rules that apply to the short-term rental market.
March 29
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Biden’s 10-year outlook still would rack up $14.4 trillion in deficits — most of it on autopilot — even after accounting for that $1 trillion in net deficit cuts from new policies like tax increases on the wealthy and corporations.
March 29
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New York Attorney General Letitia James has accused the auction house in a 2020 lawsuit of helping a wealthy shipping executive avoid paying taxes on artwork he purchased.
March 29
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President Joe Biden’s plan to tax unrealized capital gains ran into opposition from key Democratic Senator Joe Manchin, likely dooming it just hours after it was sent to Congress.
March 29
