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 Issues Favorable Ruling on WTPs Like-Kind Exchange Program

The Internal Revenue Service has released a favorable private letter ruling allowing WTP Exchange, an affiliate of WTP Advisors, to provide both like-kind exchange software and qualified intermediary services.

February 26
Technology

Thomson Reuters Intros Cloud Version of Indirect Tax Software

The Tax & Accounting business of Thomson Reuters has introduced a cloud-based version of its software for managing sales and use taxes and value-added taxes.

February 26
Technology

Aplos Software to Assist Nonprofits with IRS Form 990-EZ

IRS e-file provider Aplos Software will begin offering its Aplos e-File online tax preparation and e-filing product for IRS Form 990-EZ in March of 2013.

February 25
Tax practice

No More Holds on EITC Returns, Says IRS

The IRS announced that it would no longer hold tax returns that both claimed the Earned Income Tax Credit and had incomplete or appropriate Forms 8867 attached.

February 25
Technology

Gramlich Resigns from CCH SFS, New President Named

CCH Small Firm Services president Jeff Gramlich has resigned from his post, with former Wolters Kluwer Financial & Compliance services vice president and general manager Jason Marx stepping into the role.

February 25
Financial planning

Providing Real Financial Services: How to Get There

For years, youve been hearing that you should include financial services among your tax or accounting practices service offerings.

February 25
Tax practice

Beware of Bogus IRS E-Mails

The IRS has issued warning to taxpayers who receive emails claiming to be from the agency.

February 23

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.