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 Shortens Delays for Education Tax Credit Refunds

The Internal Revenue Service has reduced the amount of time it is estimating it will take to process hundreds of thousands of delayed tax returns claiming refunds from education tax credits.

March 28
Tax practice

Appeals Court Refuses to Lift Injunction against IRS Tax Preparer Regulation

A federal appeals court has refused to lift an injunction by a lower court against the Internal Revenue Services tax preparer regulation regime.

March 28
Tax planning

Bankrupt Dionne Warwick Owes $10 mn in Taxes

Songstress Dionne Warwick has filed for bankruptcy. The multi-Grammy award winner owes nearly $10 million in back taxes to the IRS and the state of California.

March 27
Tax practice

Late Start to Season Impacts TurboTax Sales

While its figures for the overall season were flat, Intuit reported today that from January 30 through March 16, sales of TurboTax Online units increased 29 percent versus the comparable prior-year period, and that total TurboTax federal units were up 26 percent in the same span.

March 26
Tax practice

IRS Increases Examinations of High-Income Taxpayers

The Internal Revenue Service has stepped up its examinations in the past year of taxpayers with high adjusted gross incomes, according to newly released IRS figures.

March 25
Wealth management

Payroll Tax Hike Hasnt Dimmed Consumer Confidence

More than half of working Americans either have not noticed or been unaffected by the January 1 expiration of the payroll tax cut, according to a new survey.

March 25
Tax practice

Senate Democrats Pass Budget with Tax Increases

The Senate narrowly passed a budget for the first time in four years on a mostly party line vote, calling for $975 billion in additional tax revenue over the next 10 years along with state sales tax collections on online sales.

March 24

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
On-Demand 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.