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 Senate Republican tax proposal unveiled Thursday would cost $516 billion over a decade after assuming macroeconomic benefits as a result of the tax cuts, according to a new analysis Friday by the Tax Foundation, a right-of-center Washington think tank.
November 10
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The Senate tax proposal released Thursday would restrict employees earning at least $500,000 from making so-called “catch-up” contributions to 401(k) workplace retirement plans.
November 10
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Coinbase Inc. customers who haven’t reported their cryptocurrency gains to the Internal Revenue Service, beware.
November 10
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Tax breaks cherished by both the fossil fuel and renewable energy industries emerged unscathed in a tax plan unveiled in the U.S. Senate, according to details of the bill released Thursday evening by the chamber’s main tax writing committee.
November 10
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The company has responded to some popular user requests.
November 10
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The Senate version of the Republican tax bill would tax wealthy private college endowments at 1.4 percent of net investment income, the same levy as the House proposal introduced last week.
November 10
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Republican tax writers in the House and Senate scoured the U.S. tax code Thursday and shook the couch cushions for loose change, as one member put it, in an all-day struggle to find ways to pay for the deep tax cuts their leaders and President Donald Trump have promised.
November 10
