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 House tax committee aims to make official several of President Trump's campaign tax pledges, and to avoid a millionaire tax.
May 12
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The Internal Revenue Service has not yet satisfied the goal of the Payment Integrity Information Act to reduce improper payment rates to less than 10%.
May 12
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The investment strategy may generate much greater loss harvesting than direct indexing, but backers point out that they work much differently.
May 12
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House Republicans are struggling to resolve issues with President Trump's multitrillion-dollar tax package, including the SALT deduction.
May 12
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The committee also proposes limiting states' ability to pay their share of Medicaid by placing a moratorium on new or increased taxes on medical providers.
May 12
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Billions of dollars allocated under former President Biden's Inflation Reduction Act would be rescinded under a portion of Trump's sweeping tax package.
May 12
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The proposal calls for increasing the maximum child tax credit to $2,500 and raising the estate tax exemption to $15 million.
May 12
