New bill calls for tax preparer regulation
Accounting Today
MARCH 11, 2025
Steve Cohen has re-introduced a bill that would give the IRS the authority to set and enforce standards for tax pros.
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Accounting Today
MARCH 11, 2025
Steve Cohen has re-introduced a bill that would give the IRS the authority to set and enforce standards for tax pros.
Accounting Today
JANUARY 24, 2024
The House Ways and Means Committee reported the text of the Tax Relief for Workers and Families Act after voting last week to advance the bipartisan bill.
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The House unanimously passed six bipartisan bills concerning taxes and the IRS, four of which were endorsed by the AICPA.
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Xero
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The next phase of Making Tax Digital is coming. In April 2026, Making Tax Digital for Income Tax (MTD for IT) will be introduced, and its set to shake up the record keeping, reporting and tax requirements for self-employed people and landlords. MTD for IT filing will be available in all Xero business plans.)
Accounting Today
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A pair of lawmakers proposed a bill to end the abuse of grantor-retained annuity trusts to avoid taxes.
Accounting Today
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The tax extenders legislation is still tied up in the Senate after being passed in the House as senators are still seeking changes in some of the provisions, such as the expanded Child Tax Credit.
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Time will tell how a federal hiring freeze, Elon Musk's push for efficiency and new tax-focused legislation will shape the path of the Internal Revenue Service.
Accounting Today
OCTOBER 9, 2024
Bill Cassidy, R-Louisiana, and Mark Warner, D-Virginia, introduced legislation supported by the AICPA that would create a dashboard to inform taxpayers of backlogs and wait times for their tax refunds. A bipartisan pair of lawmakers, Sen.
Accounting Today
JANUARY 16, 2024
Businesses eager for a tax deal announced by two powerful U.S. lawmakers can't yet bank on the corporate breaks.
Accounting Today
JANUARY 31, 2024
The House passed tax extenders legislation reviving a number of tax breaks, including the enhanced Child Tax Credit, the ability to fully deduct research and development expenses in the first year, 100% bonus depreciation, disaster tax relief, and more.
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JULY 30, 2024
Senate Majority Leader Chuck Schumer, D-New York, announced plans to bring up a vote on the Tax Relief for American Families and Workers Act later this week.
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AUGUST 5, 2024
Beverage giant Coca-Cola said that it will pay the very old debt, but it is still appealing.
Accounting Today
MARCH 22, 2024
An unlikely pair of lawmakers is teaming up to propose legislation to eliminate tax breaks for corporate M&A activity.
Accounting Today
JANUARY 19, 2024
Congress moved one step closer to enacting $78 billion in business and child tax breaks Friday, although election-year politics add risk to the legislation's prospects.
Accounting Today
MARCH 11, 2024
The fate of the Child Tax Credit is in the hands of the Senate, but the IRS is ready to implement changes rapidly if the bill is passed.
Xero
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Effortlessly create multiple bills at once by selecting the files or simply drag and drop. Xero automatically creates draft bills with key details, with the original document attached ready for approval. Plus, you can now set up and manage practice government gateway IDs for Xero Tax in one location.
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JANUARY 18, 2024
Proponents of affordable housing are praising provisions related to the Low-Income Housing Tax Credit in the tax extenders bill that was unveiled this week, saying they could result in financing over 20,000 homes.
Accounting Today
MARCH 4, 2024
There's a growing sense of unease among asset managers that companies with conspicuously small tax bills pose a financial liability too big to ignore.
Accounting Today
FEBRUARY 1, 2024
American Institute of CPAs president and CEO Barry Melancon discussed the new tax extenders bill that's working its way through Congress, along with a variety of issues affecting the accounting profession, during a wide-ranging talk Thursday at the Accountants Club of America in New York.
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DECEMBER 28, 2023
The company said the city used the presence of its Cruise self-driving unit to tie its tax bill to a portion of its global revenue.
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FEBRUARY 24, 2025
government more than $101 billion in taxes since he took the helm 60 years ago, more than any other company in history. Warren Buffett said the company has paid the U.S.
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FEBRUARY 6, 2024
The Senate may not get to the Tax Relief for American Families and Workers Act soon enough to impact returns.
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DECEMBER 9, 2024
By leveraging Intuits AI-driven expert platform, millions of Amazon sellers will be able to discover and access Intuits platform seamlessly, benefiting from powerful financial insights like profitability, cash flow, and estimated tax liabilities to fuel their growth.
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AUGUST 18, 2023
Billionaire Steve Cohen is fighting the Internal Revenue Service's goal of having hundreds of money managers pay self-employment taxes.
Accounting Today
JUNE 24, 2022
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Xero
JULY 3, 2022
Earlier this month, Caveo Partners took to Xero’s social channels to ask small business owners which questions they wanted answered come tax season. How often should I see my advisor at tax time? . How do I know if I’ll end with a tax bill or a tax refund? Good question.
Accounting Today
JULY 5, 2023
A bill in the state seeks to tax rich colleges that favor families of alumni and donors in admissions policies and give the money to poorer community colleges.
Accounting Today
JUNE 15, 2022
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Accounting Today
AUGUST 13, 2024
Former investment banker Martin Shields had already paid €3 million for his part in a dividend-tax refund scheme, and will now pay an extra €11 million.
Xero
AUGUST 11, 2022
Frankly, you already have enough to remember, thanks to Making Tax Digital (MTD) for VAT and Income Tax Self Assessment (ITSA). The government legislation with the goal of digitising the tax process has been underway for some time, and the next step is looming large on the horizon.
Intuit
FEBRUARY 20, 2025
This is complemented by personalized AI-driven insights and recommendations, and a seamless path to AI-powered human tax and bookkeeping experts whenever needed. Agentic AI workflows are now doing the hard work on behalf of customers by dynamically processing accounts receivable and accounts payable invoices with Intuit QuickBooks Online.
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JULY 20, 2022
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AUGUST 3, 2022
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FEBRUARY 2, 2024
The university is bracing for two bills in Massachusetts this year that would target its massive billion endowment and policy of admitting legacy applicants.
Accounting Today
DECEMBER 10, 2024
s wealth management business is in danger of collapsing after the deal was hit by an unexpected tax bill. The acquisition of Australian fund manager Perpetual Ltd.'s
Accounting Today
JUNE 21, 2022
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NOVEMBER 4, 2022
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Ontrack Bookkeeping
MARCH 27, 2025
New Zealanders on salary or wages may find that once their income tax assessment has been calculated automatically, they end up having tax to pay – and suddenly it’s panic stations! If your assessed tax to pay is only because you had an extra pay period ((53 weekly pays instead of 52) IRD will write off the full amount.
Xero
NOVEMBER 11, 2022
From April 2024, self-employed people and landlords earning over £10,000 annually, will need to follow Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) rules. . In place of the annual Self Assessment , clients will need to send the following every tax year: . Four quarterly updates . One Final Declaration.
Accounting Today
OCTOBER 19, 2023
The bipartisan legislation would relieve double-taxation of investments between the U.S. and Taiwan for businesses and employees.
Accounting Today
AUGUST 22, 2022
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Accounting Today
DECEMBER 19, 2024
Expatriate advocacy groups are applauding legislation introduced this week that would implement a residence-based taxation system for U.S. citizens living overseas.
Accounting Today
FEBRUARY 14, 2025
The House Ways and Means Committee passed a set of bipartisan bills aimed at improving tax filing and administration at the Internal Revenue Service.
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