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 heirs of billionaire Heinz Hermann Thiele may owe German authorities more than 5 billion euros ($6 billion) in inheritance taxes, potentially the largest such bill in the country’s history, according to ManagerMagazin.
April 22
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Democrats are making another push for the Biden administration to include a repeal of the cap on state and local tax deductions in its long-term economic program.
April 22
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Sen. Ron Wyden proposes ending existing tax breaks for fossil fuels and creating new incentives for low-and-no carbon energy sources.
April 21
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President Joe Biden called on employers to use a tax credit to provide paid time off to workers to get vaccinated and for businesses to do more to boost the inoculation effort as the U.S. seeks to get shots in more arms.
April 21
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President Joe Biden told a group of lawmakers that a permanent expansion could be difficult to pass the Senate.
April 21
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Lawmakers should closely study the impact of the deduction before making changes, the No. 3 House Democrat James Clyburn said.
April 21
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A U.S.-driven effort to reach a global accord on taxing big tech companies’ overseas profits is getting bogged down over ensnaring one company in particular.
April 21
