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.

  • There are already numerous studies attempting to peg the effect of tax rates on economic activity. There will undoubtedly be more, as politicians, economists and tax experts seek the magic formula to maximize both economic activity and government revenue.

    January 9
  • The American Institute of CPAs has updated its Total Tax Insights calculator with information from 2013 to help taxpayers gauge the impact of more than 20 different federal, state and local taxes, including a new Medicare surtax that took effect last year, on their own taxes for this year.

    January 9
  • National Taxpayer Advocate Nina E. Olson urged the Internal Revenue Service to adopt a comprehensive Taxpayer Bill of Rights in her annual report to Congress Thursday, saying it would increase trust in the agency and, more generally, strengthen the IRS’s ability to serve taxpayers and collect tax. She also recommended allowing voluntary certification of unenrolled tax preparers if the IRS fails to win a court appeal of a ruling invalidating its testing requirements for tax preparers.

    January 9
  • The Internal Revenue Service audited 0.96 percent of individual tax returns in fiscal 2013, declining for the second straight year and reaching the lowest rate since 2005.

    January 9
  • Bill.com has signed an integration deal with tax filing solutions creator TechAtlantis and its Tax1099.com product to automate the process of creating and e-filing 1099-MISC forms.

    January 8
  • The tax and business advisory firm WTP Advisors is predicting that Congress will renew the expired Research and Experimentation Tax Credit as it has traditionally done over the years.

    January 7
  • CCH has published a new tax briefing outlining some of the significant tax changes of the past year.

    January 6
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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.