Tax

Tax News & IRS Insights for Accounting Professionals

Accounting Today delivers news and analysis for accounting and tax professionals on federal and state tax developments, IRS guidance,information reporting, and operational implications for practices and clients. Our coverage focuses on legislative and procedural shifts that tax practitioners must monitor in planning, compliance, and advisory contexts.

IRS

Acting IRS Commissioner Krause to resign

Acting IRS commissioner Melanie Krause reportedly intends to resign after a deal with the Department of Homeland Security to use IRS data for immigration enforcement.

By Chris Gaetano
Technology Editor

April 9
Tax credits

Tax Court weighs risk and the R&D credit

In two recent cases, the court looked to local law for the first time in research funding analysis.

By Roger Russell
Senior Editor

April 9
Tax credits

Bill would expand affordable housing credits

A bipartisan group of over 100 lawmakers reintroduced legislation in the House to expand and strengthen the Low Income Housing Tax Credit.

By Michael Cohn
Editor-in-chief, AccountingToday.com

April 8
AT Think In the blogs: Sweet liberty

Change is not at hand; a question for brokerages; the IRS Simple Installment; and other highlights from our favorite tax bloggers.

April 8

Jeff Stimpson
Technology

DOGE to centralize IRS data under one API

Elon Musk's Department of Government Efficiency reportedly plans to centralize all IRS data around a single portal and will begin efforts next week with a "hackathon."

By Chris Gaetano
Technology Editor

April 8
IRS

Taxpayers in disaster areas get May 1 deadline

Individuals and businesses in a dozen states hit by natural disasters in 2024 will have at least a few extra weeks to file their taxes or ask for an extension.

By Michael Cohn
Editor-in-chief, AccountingToday.com

April 8
Tax regulations

Group asks for extension on micro-captive reporting to IRS

The 831(b) Institute sent a letter requesting an extension on a deadline for disclosing information about transactions that the IRS views as tax shelters.

By Michael Cohn
Editor-in-chief, AccountingToday.com

April 8

Resources

The latest Accounting Today research and discussion:

Web Seminar Tax season post mortem

Join us for a transparent look at the challenges facing firms this year and how to overcome them for 2027.

Partner Insights from Canopy
Web Seminar Rethinking busy season: A modern operating model for K-1s

Busy season is over—but the bruises are still fresh. Many firms expected smoother K-1 workflows, yet encountered the same familiar bottlenecks, last-minute delays, and staff burnout. Instead of tweaking around the edges, we'll explore a modern operating model for managing K-1s at scale – from intake through exchange – designed to reduce rework, cycle time, and eliminate seasonal chaos.

Partner Insights from K1X
Tariffs and your clients

Dean Peterson and Blair Robbins of Eisner Advisory Group discuss the tax and business ramifications of the Trump administration's tariff policies that accountants should be advising clients about.

Sponsored by Intuit Quickbooks

Tax: Key Questions & Analysis:

What IRS guidance on forms and information reporting should practitioners prioritize?

The IRS continues to update thresholds and instructions for critical tax forms. This includes changes to information reporting requirements and guidance on evolving reporting standards, affecting 1099, W-2 and similar reporting obligations.

What procedural developments affect IRS automatic change consent for method changes?

Tax professionals must understand which accounting method changes qualify for automatic consent versus advance consent. This determines whether a Form 3115 must be filed with IRS National Office or via automatic procedures.

How are tip-related tax provisions evolving under current policy?

New tax provisions related to tip income will impact how service industry clients and payroll units handle tax reporting and compliance. This includes draft schedules and withholding considerations.

What IRS guidance will shape compliance for the 2026 filing season?

Practitioners will need to understand procedural updates, forms changes, and reporting shifts that will affect compliance workflows and client expectations for the 2026 filing season. This includes the implementation timeline for new schedules and reporting requirements as well as for emerging areas such as crypto broker reporting.