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 now allowing tax advisors and taxpayers to fax the Form 8918, Material Advisor Disclosure Statement, as part of its response to the novel coronavirus pandemic.
October 22
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The Internal Revenue Service released an early draft of the instructions with revised directions for how partnerships should report capital accounts and tax basis capital for partners on Schedule K-1.
October 22
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Apple Inc. has been lobbying the U.S. government on tax breaks to support domestic chip production, suggesting the iPhone maker is keen to move more of its supply chain to the U.S.
October 22
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PricewaterhouseCoopers is testing out three new apps for its clients to use for tax planning; environmental, social and governance reporting; and upskilling their employees.
October 22
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Former vice president and Democratic presidential candidate Joe Biden’s tax proposal will limit direct tax increases to just 1.9 percent of taxpayers.
October 21
Tax Tabs -
Democrats on the House Ways and Means Oversight Subcommittee want the agency to reverse the automated revocation of status for tens of thousands of nonprofits.
October 21
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Two of three judges on a Washington appeals court appeared skeptical of President Donald Trump’s renewed efforts to prevent accounting firm Mazars USA LLP from turning over his financial records to House Democrats
October 21
