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 provision would allow energy companies subject to a 15% corporate alternative minimum tax to deduct certain drilling costs when calculating taxable income.
June 17
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A group of tax organizations, including the NATP and NAEA, hopes to preserve the core tax functions relied on by tax professionals despite cutbacks at the IRS.
June 17
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In the age of AI, the professionals who will excel are those who invest as much in empathy, communication and critical thinking as they do in technical skills.
June 17
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Senate Republicans plan to modify the massive fiscal package to lower maximum deductions for state and local taxes and limit the impact of a "revenge" tax.
June 17
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Businesses and rich universities scored wins in the Senate version of Trump's tax bill, while low-income Americans and clean energy providers were hit hard.
June 17
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Private universities with at least 500 students that have endowments of $2 million per pupil or more would pay an excise tax of 8% under the new bill.
June 17
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The prospect of prolonged talks with holdouts threatens Senate Majority Leader John Thune's goal of passing President Trump's tax-cut legislation by July 4.
June 17
