Journal of Accountancy » Tax
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The latest tax news and insights from the Journal of Accountancy, the ultimate resource for today's CPA. The Journal of Accountancy is the flagship publication of the American Institute of Certified Public Accountants. Our thought-provoking articles and features provide insight and practical, expert analysis of critical topics affecting the accounting profession, including auditing,..
Journal of Accountancy » Tax
1w ago
In a letter to the Treasury secretary and the FinCEN director, the AICPA called for enforcement of beneficial ownership information reporting regulations to be suspended until after lawsuits are settled ..read more
Journal of Accountancy » Tax
1w ago
The IRS said it will not include the rebates provided under the Inflation Reduction Act of 2022 in individual purchasers’ gross income or in the cost basis of the property purchased ..read more
Journal of Accountancy » Tax
1w ago
Two sets of proposed regulations issued by the IRS provide guidance on the implementation of the new excise tax and on rules for the procedure and administration applicable to the reporting and payment of the tax ..read more
Journal of Accountancy » Tax
1w ago
The IRS winds up its annual list of 12 scams and schemes by covering two broad categories: bogus tax-avoidance strategies and schemes with an international element ..read more
Journal of Accountancy » Tax
1w ago
In light of the continuing challenges taxpayers are facing with the corporate alternative minimum tax, the IRS granted a waiver of the addition to tax for failure to pay estimated corporate AMT “in the interest of sound tax administration ..read more
Journal of Accountancy » Tax
2w ago
The IRS opened its annual Dirty Dozen list with scams that trick recipients into clicking a suspicious link, filling out personal and financial information, or downloading malware onto their computer ..read more
Journal of Accountancy » Tax
2w ago
When a private delivery service is used, it must be one the IRS has specifically identified to satisfy Sec. 7502, the Tax Court holds ..read more
Journal of Accountancy » Tax
2w ago
Although mailed after the 90- day deadline had expired, the petition was timely because it was filed within a 14-day extension provided under Sec. 7451(b)(1 ..read more
Journal of Accountancy » Tax
2w ago
Another worker at a U.S.–Australia joint defense facility fails to nullify a closing agreement waiver ..read more
Journal of Accountancy » Tax
2w ago
This term, the Supreme Court will answer the questions regarding the estate tax treatment of life insurance proceeds received by a closely held business and its shareholder redemption obligations. It heard oral arguments last week ..read more