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.
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The Texas senator pitched Republican senators on ending the Federal Reserve's authority to pay interest to banks, claiming it would save $1.1 trillion over a decade.
June 12
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The sale of federal land would provide billions of dollars to help pay for the massive package of tax cuts in the Senate's version of the bill.
June 12
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A $30,000 cap on the state and local tax deduction would be a compromise between current law and the more generous limit in the House's version of the bill.
June 11
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A recent report from CPA.com says that semi-autonomous AI bots are already completing bookkeeping workflows start to finish, fully automating the process.
June 11
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The Section 899 "revenge tax" in President Trump's massive tax and spending bill may be delayed as it faces pushback from Wall Street and businesses.
June 11
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The Senate is considering a plan to save a lucrative tax credit for the production of hydrogen that would be scrapped in the tax mega bill passed by the House.
June 11
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Rev. Proc. 2025-23 updates the list of 'automatic procedures' for changes in methods of accounting.
June 10
