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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Social Security bump; what accountants do; no IRS taxpayer rights training; and other highlights from our favorite tax bloggers.
October 17
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The American Institute of CPAs presented testimony Tuesday during a hearing conducted by the Treasury Department and the Internal Revenue Service about the proposed regulations for implementing the qualified business income rules under the Tax Cuts and Jobs Act.
October 16
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An all-electronic vision, security concerns, and other highlights from the latest IRS National Public Liaison meeting.
October 16
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Taxpayers now have until Feb. 28 to file a number of returns and make certain payments.
October 15
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Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.
October 15
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The issue hasn’t been the political boon party leaders hoped it would be.
October 15
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U.S. corporations have largely abandoned the contentious deals that allowed them to shift their addresses abroad for a lower tax rate. Yet a key part of the transactions is continuing quietly even after President Donald Trump’s tax overhaul.
October 15
