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.

AT Think Tax planning in the Trump era: What accountants need to know

Following the Republican victory in the 2024 election, tax reform and political changes are at the forefront of every accountant's agenda.

January 24

Matt McKinney

Source Advisors
International taxes

Trump blasts EU for targeting Apple, Google, Meta

Trump described the European Union's cases against the American tech companies as "a form of taxation," in comments at the World Economic Forum in Davos.

By Bloomberg News

January 24
International taxes

German prosecutors ramp up probe in tax dividend scandal

German prosecutors are preparing to bring the first criminal charges against staff who worked at Macquarie Group Ltd. over the Cum-Ex tax scandal.

By Karin Matussek
Reporter

January 24
Tax planning

Tax-slashing ETF trailblazer preps for a fresh $5B haul

Four years after handling the first conversion of a hedge fund to an ETF, Wes Gray is gearing up to lead a surge of tax-busting deals aimed at investors.

By Vildana Hajric

January 24
Tax-related court cases

Tax Fraud Blotter: Shipping and mishandling

Noted once more; a lot of shingles; refund's in the mail; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

January 23
Investment strategies

New 'investor-friendly' ETFs unlock tax deferral on appreciated assets

Funds that use Section 351 conversions are rolling out in 2025, led by the launch of one with the ticker TAX. Here's what financial advisors and investors should know.

By Tobias Salinger
Chief Correspondent

January 23
IRS

IRS can't verify LITC grant recipient eligibility

The IRS doesn't have the authority to independently verify that recipients of Low Income Taxpayer Clinic grants are eligible to receive them.

By Michael Cohn
Editor-in-chief, AccountingToday.com

January 23

Resources

The latest Accounting Today research and discussion:

Web Seminar Tax season post mortem

Join us for a transparent look at the challenges facing firms this year and how to overcome them for 2027.

Partner Insights from Canopy
Web Seminar Rethinking busy season: A modern operating model for K-1s

Busy season is over—but the bruises are still fresh. Many firms expected smoother K-1 workflows, yet encountered the same familiar bottlenecks, last-minute delays, and staff burnout. Instead of tweaking around the edges, we'll explore a modern operating model for managing K-1s at scale – from intake through exchange – designed to reduce rework, cycle time, and eliminate seasonal chaos.

Partner Insights from K1X
Tariffs and your clients

Dean Peterson and Blair Robbins of Eisner Advisory Group discuss the tax and business ramifications of the Trump administration's tariff policies that accountants should be advising clients about.

Sponsored by Intuit Quickbooks

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.