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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House and Senate Republicans are working this week on compromise tax-overhaul legislation in an effort to send it to President Donald Trump as soon as next week. Here are the latest developments, updated throughout the day.
December 12
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KPMG has resigned as Liberty Tax’s independent accounting firm amid the continuing fallout over Liberty founder John Hewitt.
December 11
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Effectively immediately, tax pros must register through a new ID-proofing process.
December 11
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More than 70 percent of 861 CPAs polled in December by the New Jersey Society of CPAs predicted their individual and family clients in New Jersey would face increased taxes due to the Republican tax plans from both the House and the Senate.
December 11
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Republican Senator Susan Collins of Maine, a key vote on legislation to overhaul the U.S. tax code, said she’s confident agreements she sought as part of her support will be kept but hasn’t made a final decision about the measure.
December 11
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The president will add a speech supporting the overhaul plan to his string of tweets.
December 11
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Congress is giving finance officials at America’s colleges and universities even more to worry about.
December 11
