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 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Billions of dollars allocated under former President Biden's Inflation Reduction Act would be rescinded under a portion of Trump's sweeping tax package.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
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The debate over state and local tax deductions has been a thorny fight because it's a political priority for a small but vocal group of Republicans.
May 9
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The proposal would create a tiered system of taxation so that wealthy colleges and universities pay more as the size of their endowment grows.
May 9
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It remains unclear why the companies struck the deal without an IRS purchase, but Carahsoft previously said it stands by the cybersecurity tech transaction.
May 9
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President Trump is pushing lawmakers to increase tax rates on some of the wealthiest Americans as a way to offset other cuts.
May 9
