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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Bait, switch and threaten; power corrupts; Herbal remedy; and other highlights of recent tax cases.
June 3
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The American Jobs Plan would take taxes on GILTI through the roof.
June 3
Smolin Lupin -
Sen. Ron Wyden has questions about why the company consistently loses money in the U.S. and doesn’t pay more in taxes.
June 3
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This week’s finance ministers’ meeting may help lead to a broader deal in July or October.
June 3
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Private wealth clients, hedge fund managers and cryptocurrency traders fleeing to Puerto Rico for its huge tax breaks — and to escape President Joe Biden’s proposed capital gains tax increases — are now the focus of a sweeping Internal Revenue Service review.
June 3
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The Biden administration has proposed requiring the collection of data on foreign cryptocurrency investors active in the U.S., aiming to bolster international cooperation to help in a broader crackdown on tax evasion.
June 3
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Contrary to the dire predictions at the time, the massive overhaul of the nation’s Tax Code during Donald Trump’s presidency had a negligible initial impact on the nation’s domestic migration patterns, new data from the Internal Revenue Service show.
June 2
