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

Treasury and IRS Finalize Country-by-Country Reporting Tax Rule

The Treasury Department and the Internal Revenue Service have finalized a rule requiring U.S. parent companies of large multinational public and private companies to provide financial data to the IRS on a country-by-country basis.

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

June 30
Tax practice

Ex-Billionaire Wyly's Dallas Mansion Slipping Away in Court

Former billionaire entrepreneur Samuel Wyly will have to move out of his $12 million Texas mansion unless he miraculously wins a "home run" appeal of a fraud case in Manhattan, a federal judge ruled.

June 30
Tax practice

Ex-PwC Duo Get Suspended Jail Terms, Fines in LuxLeaks Trial

Luxembourgs criminal court handed out suspended jail terms and fines to former PricewaterhouseCoopers staffers Antoine Deltour and Raphael Halet for their role in the so-called LuxLeaks scandal.

June 29
Tax practice

In the Blogs: Brexit Fixit

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

June 28
Tax practice

Time After Time: Last Season’s Extensions

Give some people time and invariably theyll want more.

June 28
Tax practice

Tax Strategy

Changes affecting qualified retirement plans

June 28
Tax fraud

CPAs and Tax Pros Gone Wrong

Some of our favorite examples of tax and accounting professionals breaking bad

June 28

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.