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

In the Blogs: The Bucket Stops Here

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

August 27
Tax practice

Thomson Reuters Offers Tax Research Certificates for Tax Pros

Thomson Reuters has begun offering a new Checkpoint Learning Tax Research Certificate Program for tax professionals.

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

August 27
Tax planning

BofA Settlement Includes $490 mn of Tax Relief

Bank of America Corp. must set aside $490 million of its $16.7 billion settlement to cover taxes that borrowers face on forgiven mortgage debt.

August 25
Tax practice

Home Office Deduction Not Precluded by Minor Personal Use

The Tax Court sided with the plaintiff in a recent case involving the rules surrounding the home office deduction.

August 21
Tax tools

IRS Chooses Wolters Kluwer CCH for Taxability Tables

For the 10th consecutive year, the IRS has chosen Wolters Kluwer, CCH, to deliver sales tax rate and taxability tables to help millions across the country prepare their tax returns.

August 20
Technology

Libra Launches Bitcoin Tax Reporting Software

Libra Services has released LibraTax, a new software solution that lets individuals and businesses that have transacted business in Bitcoin and other digital currencies to calculate their tax obligations.

By Daniel Hood
Editor-in-chief

August 19
Tax practice

In the Blogs: Maybe They Should Tax Doritos

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

August 19

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.