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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President Donald Trump offered corporate America a sweeping tax vision whose ultimate promise of lower rates and more global competitiveness depends on one thing: longevity. Given the plan’s uncertain costs, longevity may be one thing the proposal can’t deliver.
May 2
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Simplification may call for firms and practices to adopt new models and approaches.
May 2
Thomson Reuters -
Indirect tax compliance software vendors weigh in on the changes that are coming in the field, here and abroad.
May 2
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The Internal Revenue Service may be on the verge of loosening recent restrictions on conservation easement tax breaks that were imposed at the end of the Obama administration.
May 1
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Imagine that you arrive home one day to find a letter from the Internal Revenue Service: “Dear Taxpayer: Although you paid your taxes in full four years ago, Congress has since decided to eliminate a deduction that you took at that time. The deduction was legal when you took it but isn’t legal anymore. We therefore require immediate payment of $10,000, the amount by which you benefited from the deduction that no longer exists.”
May 1
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President Donald Trump said he’s willing to raise the U.S. gas tax to fund infrastructure development and called the tax-overhaul plan he released last week the beginning of negotiations.
May 1
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With the continued growth of the sharing economy, millions of Americans are utilizing services offered by companies such as Uber and Airbnb, and states are struggling to apply their existing tax laws to transactions for these and other new technologies.
May 1
