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

Don’t Trust the Shoebox

What to do when youre not sure about your clients documents

July 24
Tax practice

Hedge Fund Manager Faulted for 'Unconscionable' Tax Scheme by Teachers

Hedge fund manager Daniel Loeb was singled out for criticism by labor leaders who are urging the U.S. to limit investors ability to lower tax obligations through offshore reinsurance ventures.

July 24
Tax practice

In the Blogs: The Early Bird Gets the Shaft

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

July 24
Tax practice

Democrats Introduce Bills to Fund Highways via Corporate Tax Reform

House Democrats introduced two bills to shore up the Highway Trust Fund with money from corporate taxes.

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

July 20
Tax practice

Ex-Congressman Grimm Gets Eight Months over False Tax Return

Former New York congressman and FBI agent Michael Grimm is heading to prison for scamming the government out of taxes in his operation of a Manhattan health food restaurant.

July 20
Tax practice

Tax Fraud Blotter: Multiservice, Multi-Arrests

Some of our favorite recent tax fraud cases.

July 18
Tax practice

It's a Jungle Out There: A Practical Overview of So-called 'Amazon' Tax Laws

Given the remarkably rapid rise of Internet commerce, its no surprise that cash-strapped states are looking for ways to tap into (i.e., tax) the bountiful stream of revenue.

July 17

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
On-Demand 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.