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

Preparers Make the Strangest Mistakes

The most common errors tax pros run across in prior years' returns

May 26
Financial planning

Tax Strategies Scan: When Doing Nothing Is Best

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

May 26
Tax practice

States Extend Tax Grab

Bloomberg BNA releases its annual state tax survey

By Roger Russell
Senior Editor

May 25
Tax practice

Small Captive Insurance Companies Hit the IRS Dirty Dozen List

If your business has formed a captive insurance company that has elected small insurance status under section 831(b) of the Internal Revenue Code, you may be hearing from the IRS.

May 22
Tax practice

Florida CPA Charged with Filing Fraudulent Tax Returns

A Florida CPA has been arrested and charged with using her tax preparation business to facilitate an income tax refund fraud scheme.

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

May 22
Tax practice

In the Blogs: Post-Season’s Greetings

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

May 21
Tax practice

Yahoo Sticks to Spinoff Plan as IRS Triggers Share Slump

Yahoo! Inc. is pushing ahead with plans to spin off its stake in Alibaba Group Holding Ltd. after comments by the IRS triggered a share slump amid concerns the deal could hit a snag.

May 20

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.