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 Office of Professional Responsibility is trying to expand its authority over preparers – and running into opposition.
April 4
Accounting Today -
The Internal Revenue Service overpaid more than 600 employees approximately $4.2 million and underpaid over 900 employees an estimated $2.7 million because of incorrect calculations of manager salaries, according to a new report.
April 3
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Sen. Jack Reed, D-R.I., and Chuck Grassley, R-Iowa, have introduced bipartisan legislation that would prevent businesses from deducting the money they pay to government agencies like the Securities and Exchange Commission to settle allegations of company wrongdoing.
April 3
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When I started my practice I tried to extend as many clients as I could. I figured this would ease tax season and spread the work out throughout the year.
April 3
Withum -
The IRS audited slightly more than 1 million returns of individuals in Fiscal Year 2016, down almost 16 percent from the prior year’s 1.2 million, according to the latest IRS Data Book.
April 2
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Preparers are divided on the value of promoting themselves during their busiest time.
March 31
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A new report from the Government Accountability Office questions the usefulness of services such as identity monitoring, credit monitoring and identity theft insurance, particularly when it comes to safeguarding against tax refund fraud.
March 31
