| By Michael Cohn 4 min read | The Internal Revenue Service provided detailed reporting directions Wednesday for certain passthrough entities and taxpayers reporting partnership interests held in connection with the performance of services, often referred to as “carried interest.” Read story → |
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| | | By Laura Litvan, Laura Davison and Erik Wasson 2 min read | Congressional Democrats floated fresh proposals on how to increase the federal deduction on state and local taxes, but House and Senate lawmakers were at odds over whether the very rich should be allowed to take the tax break. Read story → |
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| | | By Billy House, Laura Davison and Erik Wasson 4 min read | Democrats have found new urgency to pass the roughly $1.75 trillion tax and spending plan as well as an infrastructure bill with $550 billion in new spending after being stung by a Republican sweep of statewide races in Virginia. Read story → |
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| | | By Michael Cohn 2 min read | The deals will help merchants automate cross-border transactions. Read story → |
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| New IRS requirement substantially reduces the 1099-K reporting threshold from $20K to $600 with no minimum. Continue Reading → |
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| | | By Laura Davison and Erik Wasson 3 min read | The move would help offset the benefits from a proposed expansion of the federal deduction of state and local taxes. Read story → |
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| | | By Jeff Stimpson 3 min read | The IRS reaches north; no questions asked on the Mars minis; new on the block; and other highlights from our favorite tax bloggers. Read story → |
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| | | By Roger Russell 3 min read | An adverse court ruling leaves wealthy states with fewer options. Read story → |
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| | | By Lynnley Browning 7 min read | Democrats, unable to gain traction on taxes that affect only the ultra wealthy, have turned to trusts as little as $200k. Read story → |
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| | | By Erik Wasson and Emily Wilkins 3 min read | Moderates are echoing Senator Joe Manchin’s complaint about not knowing the full cost and economic impact of the Biden adminstration's plans. Read story → |
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| | | By Heather Perlberg 4 min read | That Rothko, Basquiat or Banksy hanging in the front hall may be a great way to get a tax break. Read story → |
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| | Follow Accounting Today in real time. More ways to get the most trusted industry news and analysis. |
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| | | | | | | | | | | RESOURCES | | | WEB SEMINAR | | Thursday, November 4, 2021 1:00 PM EDT | In this webinar we will introduce the SafeSend Suite and how it can automate remote client interactions across the entire tax process, including engagement letters e-signatures, digital client organizers, K-1 distribution, and signer delegation e-file form e-signatures, and collecting payment of the tax prep fee. Learn More → | SPONSOR CONTENT FROM SAFESEND | | | WEB SEMINAR | | Wednesday, December 8, 2021 2:00 PM EST | Now that the lease accounting deadline delays have passed, most organizations will be closing their books under the new standards for the first time in 2022. Learn More → | SPONSOR CONTENT FROM LeaseAccelerator | | | EBOOK | | | 2021 is the year to invest in technology that will help your business grow and run efficiently. Here’s how to choose. Download Now → | SPONSOR CONTENT FROM Right Networks | More resources → |
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