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.

Tax practice

Slow Times

Even as you woke up from that three-day nap after April 18, you knew you had to make money the rest of 2016, too. Lucky youre in a field where thats getting easier.

July 28
Financial planning

Planning for the Boomer Generation's Lifetime Required Minimum Distributions: Part 2

Tax practitioners and their baby boomer clients are beginning to cope with a monumental financial and tax eventthe onset of required minimum distributions from traditional IRAs and qualified plans.

July 28
Tax practice

In the Blogs: The Great Unpleased

Highlights of some of our favorite tax-related blogs from the past week.

July 28
Tax practice

Choosing among Transfer Pricing Risk Assessment Alternatives: What’s Ahead for CPA Firms?

The Organization for Economic Cooperation and Development, together with its Global Forum members, is intent upon providing transfer pricing tax risk assessment assistance to tax administrations.

July 27
Tax planning

Tax Tips for Newlyweds

Looking for a gift to give after all those June weddings? How about some solid tax advice for the newlyweds?

July 27
Financial planning

Planning for the Boomer Generation’s Lifetime Required Minimum Distributions: Part 1

A torrent of money has started to flow from the IRAs and qualified plans used by over 77 million U.S. baby boomers to save for retirement.

July 27
Tax practice

Facebook Fails to Show Up for Seventh Tax Summons from IRS

Facebook Inc. officials failed to show up after getting seven summonses from the Internal Revenue Service demanding internal corporate records on one of its offshore tax strategies, according to an IRS court filing.

July 27

Resources

The latest Accounting Today research and discussion:

Web Seminar The most important supply for tax firms isn't found on shelves

In this webinar, we'll show you how tax and accounting professionals are leveraging new technologies to make their firms more efficient and to stay ahead of competitors.

Partner Insights from Thomson Reuters
Web Seminar The psychology of a modern tax workflow: Reducing anxiety, decision fatigue & compliance risk

In this session you'll learn practical, firm-tested principles to reduce confusion, improve predictability, and strengthen both client and staff confidence.

Partner Insights from SmartVault
Web Seminar Tax Planning for 2027

This webinar will look at key opportunities and stumbling blocks for practitioners

Sponsored by 8am CPACharge

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.