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 Internal Revenue Service is increasing many of the fees for requests for private letter rulings by 26.7 percent, starting Feb. 4.
January 4
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BKD CPAs & Advisors premiered “The Missing Deduction,” a 30-minute video featuring plenty of esoteric tax jokes.
January 4
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The Internal Revenue Service and the Treasury Department released guidance that offers an extension of a safe harbor for developers of renewable energy projects located either offshore or on federal land.
January 4
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The relief bill includes an extension of the 45Q tax credit, which gives companies a tax break for capturing carbon..
January 4
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Private collection agencies that have contracted with the Internal Revenue Service to collect overdue tax debts have collected nearly $500 million since 2017, according to a new report, but that’s just a fraction of the over $30 billion owed.
December 31
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Given the size and number of tax changes proposed by the Biden administration, it’s no wonder advisors face challenges in helping clients prepare for the year ahead.
December 31
Urish Popeck & Co. -
A federal appeals court in Washington agreed with President Donald Trump that a lower court should decide whether Democrats in Congress must narrow their subpoena to his accounting firm for his financial records.
December 31
