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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Frank Bisignano testified on Tax Day during a Senate hearing about this past filing season and how IRS operations were affected by the new tax deductions.
April 15
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Josh Gottheimer is looking to roughly double the cap on state and local tax deductions, in a bid to secure more savings for residents in high-tax states.
April 15
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Trump downplayed the likelihood that Republican lawmakers will be able to add tax cuts or other economic priorities to entice voters ahead of the midterms.
April 15
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Wall Street strategists expect a robust increase in the Treasury's coffers this week as Americans pay their taxes.
April 15
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The second-home plan is expected to be part of ongoing state budget negotiations and would levy a yearly surcharge on pied-à-terres.
April 15
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Americans rushing to meet the tax deadline are getting bigger refunds on average thanks to Trump's tax law, though the savings are falling short of his promises.
April 15
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The Internal Revenue Service rarely penalizes taxpayers who have high balances in foreign bank accounts and fail to file the proper forms, according to a new report.
April 14
