Tax/Accounting

Lawmakers Raise Concerns About Tax Transcript Issue

A bipartisan group of lawmakers -- led by Rep. Gregory Meeks (D-N.Y.) and including House Ways and Means Committee Chairman Kevin Brady (R-Texas) -- wrote to the Internal Revenue Service yesterday to express concerns about recent changes to the IRS’ tax transcript processing system that could result in significant delays for consumers when attempting to purchase or refinance a home.

Read More »

Associations Call on IRS to Fix Tax Transcript Issue

In a comment letter with nine trade associations on Friday, ABA urged the IRS to take immediate steps to fix problems with the tax transcript process that could result in significant delays for consumers attempting to purchase or refinance a home.

Read More »

Lawmakers Reach Agreement on Key Tax Issues

Republican lawmakers negotiating the differences between the House and Senate tax reform bills have reportedly reached a tentative agreement on a package that would pin the C corporation tax rate at 21 percent, eliminate the corporate alternative minimum tax and provide a 20 percent deduction for pass-through businesses, with the new rates effective in 2018.

Read More »