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

IRS Offers Transition Relief for IRA Owners

The Internal Revenue Service is providing transition relief to owners of individual retirement accounts and individual retirement annuities relating to the application of a one-rollover-per-year limitation of the Tax Code.

March 20
Tax practice

IRS Already Received Over Half of Expected Tax Returns

The Internal Revenue Service said Thursday it has already received more than half of the tax returns it expects to receive during 2014, even though the filing deadline is nearly a month away.

March 20
Tax practice

IRS Looks to Distribute $760 Million in Unclaimed Tax Refunds

The Internal Revenue Service is giving the Mega Millions jackpot some serious competition, with tax refunds totaling $760 million ready to be handed over to an estimated 918,600 taxpayers who did not file a federal income tax return for 2010.

March 19
Tax tools

Common Taxpayer Misconceptions

The NAEA’s collection of ridiculous things tax clients believe

March 19
Financial planning

Executors Personally Liable for Estate’s Unpaid Taxes

The U.S. District Court for the District of Maryland has held a pair of family estate executors liable for the unpaid taxes of the estate.

March 19
AT Think CCH Provides Tax Tips for March Madness Bracketologists

CCH is warning participants in the NCAA college hoops March Madness brackets that any of their winnings in the office pool will be subject to taxes.

March 18
Tax practice

Report Lists States with Highest and Lowest Taxes

Consumer finance site WalletHub has released a report on the states with the highest and lowest taxes.

March 18

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.