A bipartisan bill that would simplify and standardize state income tax collection for employees who travel across state lines for temporary work assignments has received support from more than 250 organizations, including the AICPA.
The Governmental Accounting Standards Board (GASB) on July 2 issued for public comment a proposed statement on the transition provisions of GASB's new pension standards for state and local governments.
The GASB is seeking public comment on a proposed concepts statement it issued on June 20 that would guide the GASB when establishing standards regarding the measurement of assets and liabilities for state and local governments.
Nobody wants to come in second instead of first. But depending on how the pieces of the tax puzzle fit together, second place could be a lot more profitable. Take a look at this recent scenario in which the number two draft choice netted well over a quarter million dollars more than the number one.
Is 2013 shaping up to the year of tax reform? "There are more proposals this year than we have seen in the last five years, and an unprecedented number of major state tax reform proposals," said Harley Duncan, a managing director at KPMG.
If the owners of the Upstate New York strip club Nite Moves have their way, the Supreme Court will be taking up that question. They are challenging a $124,921 tax bill levied by state tax authorities and affirmed by appeals court judges.
The Marketplace Fairness Act gives states the authority to enforce sales tax collection requirements on most retailers for online sales purchased by residents of the state, even if the retailers have no physical presence in that state.
With the election behind us and a strong probability of more tax hikes ahead, Major League Baseball free agents have rushed to the negotiating table in the hope of pulling as much of their future income as possible into 2012.
Multimillion-dollar contracts are nothing unusual in major league baseball, and neither is trading. But the problem for five recently traded Marlins is that their remaining contracts will be paid out subject to much higher taxes.
The IRS is seeking applications for vacancies on the Advisory Committee on Tax Exempt and Government Entities (ACT). The committee provides a venue for public input on relevant areas of tax administration.
How can taxpayers follow how their money is being spent on public education? What is the difference between a school district's budget and its financial statements? Answers to these questions, and many others, can be found in GASB's new user guide, What You Should Know about Your School District's Finances.
In a retail market dominated by generic superstores, pop-up corner pharmacies, and faceless online shopping, it has become increasingly difficult for "main street" businesses - the very businesses that provide the individual stamp and distinctive character of their communities - to survive.
The California State Assembly has approved Assembly Bill 1424, the Delinquent Taxpayer Accountability Act, aimed at the state's worst tax debtors. The bill delivers a clear message: pay your back taxes or we'll suspend your driver's license and/or professional licenses.
The NASBA and the AICPA have launched an online tool designed to help CPAs navigate the new practice privilege requirements, commonly referred to as mobility laws, that allow CPAs to practice across state borders.
Taxpayers who have underreported their California income tax liabilities through the use of abusive tax avoidance transactions or offshore financial arrangements will be permitted to obtain a waiver of most penalties under an amnesty program beginning in August.
The Government Accounting Standards Board (GASB) will propose changes later this month to the method used by most U.S. state and local governments when they report unfunded pension liabilities on their balance sheets. The proposed changes could result in an increase in the amount of liabilities governments will report.