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 American Institute of CPAs has sent the Internal Revenue Service a set of recommendations on changing some of the parking rules for tax breaks for transportation fringe benefits, which the Tax Cuts and Jobs Act mostly eliminated.
May 15
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About $18.4 billion in bad payments were made on the refundable credit in 2018.
May 15
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Treasury Secretary Steven Mnuchin indicated he would refuse a subpoena for President Donald Trump’s tax returns, saying that the dispute between Congress and the administration will likely end up in court.
May 15
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Extension a tax incentive for electric vehicle purchases could cost up to $15.7 billion, according to an analysis prepared by opponents.
May 15
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Tax credits worth billions of dollars for the wind and solar industries are set to expire or begin phasing out next year — part of a 2015 deal Democrats struck that ended a 40-year-old ban on the export of crude oil.
May 15
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The top Democrat on the Senate Finance Committee sent letters to the Treasury Secretary and IRS Commissioner requesting information on their refusal to provide the president’s tax returns and related documents.
May 15
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The CCH outage; dark influencers; prep and the military life; and other highlights from our favorite tax bloggers.
May 14
