Tax

When preparers or younger accountants complete their assignment, but before they submit it for review, they should review it for reasonableness.

The budget calls for a minimum 20% tax rate that would hit both the income and unrealized capital gains of households worth more than $100 million.

The proposal aims to collect more revenue from the largest U.S companies that are earning more than they did before the pandemic and war in Ukraine.

The request will show a $1 trillion reduction in deficit spending over the coming decade, generated in part by a new tax targeting billionaires.

The $2.6 billion Miami firm is the largest independent advisor yet to take advantage of the U.S. territory’s incentives.

The Internal Revenue Service updated its frequently asked questions page on how tax professionals should deal with the third round of Economic Impact Payments for their clients.

Over three-quarters of the audits conducted by the Internal Revenue Service under its centralized partnership audit regime resulted in no change in taxes, according to a new report.

The IRS warned Friday of a fast-approaching deadline for $1.5 billion in unclaimed tax refunds for 2018, which need to be claimed before the mid-April tax deadline.

And as many as 644,000 eligible taxpayers may not have gotten their checks, according to a new TIGTA report.

Despite ongoing challenges, your practice's busy season doesn’t need to be a disaster.