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

Taxpayers want Direct File, but relatively few have used it

The Internal Revenue Service's Direct File program is attracting interest this tax season, but lack of familiarity and budget cuts at the IRS may doom it.

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

March 26
Accounting

Treasury publishes rule narrowing BOI reporting

The Treasury Department limited the scope of the Corporate Transparency Act's beneficial ownership reporting requirement to foreign companies.

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

March 26
Tax fraud

French tax authorities use AI to clamp down on fraud

The French government is deploying increasingly aggressive methods to uncover tax fraud.

By Bloomberg News

March 26
Treasury Department

Treasury risks payment default as soon as August, CBO says

Much depends on tax-collection proceeds, with the April 15 filing date fast approaching.

By Erik Wasson
Capitol Hill reporter

March 26
Tax breaks

GOP moves closer to tax cut plan

Republican leaders say they are closer to a plan to extend the 2017 tax cuts and increase the debt ceiling.

By Erik Wasson and Billy House

March 26
IRS

IRS gives new guidance for scam victims to deduct theft losses

Taxpayers that suffer a smaller loss might not have the sophistication to know that they could be entitled to take a theft loss deduction, warns one expert.

By Roger Russell
Senior Editor

March 26
AT Think In the blogs: Seamwork

Welcome to Tax Court; the subscription model; new blog on the block; and other highlights from our favorite tax bloggers.

March 25

Jeff Stimpson

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.