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 name that Republican tax writers gave to a new, multibillion-dollar business levy implies that it targets foreign earnings from “intangible” intellectual property—hitting tech firms and drugmakers like Apple Inc. and Pfizer Inc.
January 2
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The Internal Revenue Service and Treasury Department will generally allow existing loans and other related-party transactions involving the overseas affiliates of multinational corporations to be taxed at the lower of two preferential rates, according to an official notice.
January 2
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The Internal Revenue Service said it is working on developing withholding guidance to implement the tax reform bill signed into law on December 22.
December 29
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The Internal Revenue Service has issued a revenue ruling clarifying the tax treatment of a package of films on a TV channel in terms of the domestic production activities deduction.
December 29
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The Treasury Inspector General for Tax Administration cautioned taxpayers to stay on “high alert” next tax season so they don’t fall prey to criminals who pretend to be employees of the Internal Revenue Service and the Treasury Department.
December 29
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President Trump boasted about his tax knowledge during an impromptu interview with The New York Times in which he claimed to know taxes “better than the greatest CPA.”
December 29
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New features include data visualization updates, enhanced email notifications, and modern reporting capabilities.
December 29
