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.

Audit

By the numbers: Future accountants, new state tax rates

The latest data on the number of students studying accounting, new state tax rates for 2025 and other major metrics.

By Editorial Staff

March 13
Tax cuts

Trump to meet with Senate Finance panel as tax talks heat up

The meeting, scheduled for Thursday at the White House, will be the first sit-down between the Senate tax panel and Trump since he took office again.

By Erik Wasson
Capitol Hill reporter

March 12
Tax breaks

Lawmakers reintroduce R&D expensing bill

A bipartisan group has reintroduced legislation to allow immediate expensing of research and development costs, all the way back to 2022 when the tax break expired.

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

March 12
Technology

Bloomberg announces new gen AI research features

Bloomberg Tax and Accounting released two new generative AI-driven features to aid users in tax research.

By Chris Gaetano
Technology Editor

March 12
Technology

5 megatrends in business process and tax digitalization

Businesses are facing mounting regulatory requirements that fundamentally reshape tax and financial processes.

By Christiaan Van Der Valk
Vice president of strategy and regulatory

March 12
Tax evasion

Ex-Credit Suisse client pleads guilty to hiding $90M from US

Gilda Rosenberg, a Florida businesswoman, admitted in a Miami federal court that she conspired to defraud the U.S., evade taxes and fail to file FBARs.

By David Voreacos

March 12
Trump administration

House GOP passes stopgap, daring Senate Democrats on shutdown

GOP congressional leaders didn't negotiate with Democrats on the President Donald Trump-backed funding measure, which runs through Sept. 30.

By Erik Wasson and Billy House

March 12

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.