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.
-
The Internal Revenue Service is temporarily allowing taxpayers who engage in so-called “reportable transactions,” typically tax shelters, to fax the Form 8886 for initially disclosing them to the IRS instead of mailing in the form.
October 8
-
Chuck Schumer and Ron Wyden have asked internal watchdogs to investigate whether there’s been political interference in audits of the president's returns.
October 8
-
Senator Kamala Harris condemned the Trump administration’s handling of the pandemic as the worst failure in U.S. government history, but evaded answers on the Democrats’ positions on the environment and the Supreme Court.
October 8
-
The CARES Act will play a critical role, according to Grant Thornton.
October 8
-
Internal Revenue Service commissioner Chuck Rettig heard complaints from lawmakers about their constituents missing stimulus payments.
October 7
-
While transcripts are notorious for being complex, they can be incredibly helpful in the hands of tax professionals who know how to use them.
October 7
Canopy -
Conversations have already started about how the increased government expenditures to support citizens during the pandemic will be funded. But resisting the urge to increase taxes may be the best way to support economic growth.
October 7
RSM International
