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

Taxpayers Are the Craziest People

Tax preparers share their clients' strangest misconceptions

April 4
AT Think Manhattan Had Highest Salary and Wages in 2013, but Wyoming Had Highest AGI

While New York County, also known as Manhattan, topped the list of counties in 2013 ranked by average wages and salaries with $96,941, the richest county in the country during filing year 2013 in terms of average adjusted gross income was Teton County, Wyo.

April 2

Michael Cohn
AT Think CPA Tax Advice for Financial Literacy Month

April is Financial Literacy Month and Fred Slater, CPA, and Ellen Minkow, CPA, of MS 1040 LLC in New York City are offering some special tax advice.

April 2

Michael Cohn
Tax practice

In the Blogs: Because You ObamaCare

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

April 1
Tax practice

Tax Software: Big Impact for Small Business

Small businesses should ask these five questions about software when selecting a tax preparer.

April 1
Tax practice

Inspector General Warns of Employment Tax Fraud Risks

Better processes are needed to reduce the risks of employment tax fraud, according to a new government report.

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

April 1
Tax practice

Swiss Asset Manager Admits He Helped Americans Evade Taxes

A former Swiss asset manager pleaded guilty to helping U.S. clients hide millions of dollars in offshore accounts and avoid paying federal income taxes.

April 1

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.