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 push by Tesla Inc., General Motors Co. and other carmakers to boost sales of electric vehicles was dealt a blow by House Republicans who on Thursday proposed eliminating a $7,500 per vehicle tax credit that has helped stoke early demand.
November 2
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Tax credits cherished by the wind and solar industry remain under a rewrite of the tax code revealed by House Republicans, but the measure would trim the wind energy’s production tax credit by more than a third.
November 2
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The House tax bill released Thursday preserves the carried interest tax break—paid to private-equity managers, venture capitalists, hedge fund managers and certain real estate investors—despite President Donald Trump and GOP leaders’ promise to do away with loopholes for the wealthy.
November 2
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House Republican leaders began rolling out a tax bill Thursday that contains sweeping changes for business and individual taxes, including a measure to cut the corporate tax rate to 20 percent.
November 2
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U.S. companies that have accumulated trillions of dollars of overseas earnings would be taxed on that stockpiled income at a rate as high as 12 percent under the tax-overhaul bill that House Republicans released Thursday.
November 2
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House tax writers unveiled what the individual income tax brackets will be under their proposed legislation—with a 39.6 percent rate for households making more than $1 million annually.
November 2
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The IRS won't be able to accept electronically filed returns while it conducts annual maintenance and reprogramming.
November 2
