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

College Sports Ticket Tax Break Would Vanish in Obama Budget

President Barack Obama wants to remove a tax benefit for college sports fans.

February 3
Tax practice

Obama Proposes Sweeping Tax Changes in 2016 Budget

The Obama administration has released its fiscal year 2016 budget tax proposals, which would raise taxes on the wealthy and multinational corporations stashing profits offshore, while promising middle-class tax cuts.

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

February 2
Audit

Accounting Today February 2015 Digital Edition

Check out the digital edition of the February 2015 issue of Accounting Today.

February 2
Tax practice

$4 Trillion Obama Budget Challenges Republicans on Income Gap

President Barack Obama sent a $4 trillion budget blueprint to Congress today that would raise taxes on corporations and the nations top earners, fund major investments in infrastructure and education and stabilize, but not eliminate, the annual U.S. budget deficit.

February 2
Tax practice

Good News, Bad News

Issues to keep an eye out for as the 2015 tax season progresses

February 1
Financial reporting

Happy Tax Season!

Does it have to be as bad as all that?

February 1
Tax practice

Tax Strategy

2014 tax developments as a guide to 2015

February 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.