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 Senate made adjustments to preserve the state and local tax deduction for pass-through entities such as accounting firms.
June 30
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Senate Republicans remain at odds over how much to cut Medicaid and other social safety-net programs and how rapidly to end Biden-era clean energy tax breaks.
June 30
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The U.S. Supreme Court refused to question an IRS summons that forced Coinbase to turn over transaction information for over 14,000 cryptocurrency customers.
June 30
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GOP senators voted in favor of the plan to count the extension of Trump's 2017 tax cuts as costing nothing by using an unprecedented accounting maneuver.
June 30
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On Friday, President Trump had said he was ending all trade discussions with Canada, one of its largest trading partners, in retaliation for the digital tax.
June 30
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Senate Republicans restored major Medicaid cuts to Trump's signature economic legislation, re-fashioning a key provision to overcome a procedural obstacle.
June 29
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The $4.5 trillion tax cut bill prevailed in a crucial Senate test vote after hours of negotiations between Vice President JD Vance, GOP leaders and Republican holdouts.
June 29
