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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Lawmakers have introduced several measures that would expand the so-called child tax credit, which currently provides parents $2,000 per child annually.
February 9
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House Democrats on Monday released the first draft text for key pieces of legislation that will comprise President Joe Biden’s COVID-19 relief bill.
February 9
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House Democrats are proposing to limit the next round of COVID-19 relief payments to households earning less than $200,000, after criticism that President Joe Biden’s $1.9 trillion stimulus package would benefit the rich.
February 9
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A collection of things practitioners already hate about dealing with their clients this season.
February 9
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The Internal Revenue Service mistakenly sent letters to many taxpayers saying it would be reducing their Economic Impact Payments to pay off the taxes they owed.
February 8
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The combined average sales tax rate across the country grew to levels not seen in a decade last year, enabling states to collect more tax revenue from online sales.
February 8
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The Form 7202 helps SE individuals who couldn’t work because of the coronavirus.
February 8
