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.

IRS

IRS revises guidance on residential clean energy credits

The IRS has updated and added new guidance for claiming the Energy Efficient Home Improvement Credit and the Residential Clean Energy Property Credit.

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

January 17
IRS

Werfel resigns as IRS commissioner

IRS Commissioner Danny Werfel announced plans Friday to resign next Monday, Jan. 20, coinciding with Inauguration Day.

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

January 17
AT Think Steps to take as bonus depreciation phases down

As we enter the beginning of 2025, bonus depreciation continues to leverage down as more portions of the Tax Cuts and Jobs Act expire.

January 17

Dave McGuire

McGuire Sponsel
Tax cuts

Surging long-term rates stoke GOP tensions on paying for tax cut

The mood in markets and the financial situation are starkly different from 2017, when Trump and congressional Republicans passed a deficit-expanding tax cut.

By Steven T. Dennis
Reporter

January 17
Technology

Tech news: CPA.com announces updates to Dynamic Audit Solution

Plus, Corecentric enhances its International Tax Management Engine; and other accounting tech news and updates.

By Chris Gaetano
Technology Editor

January 17
Tax-related court cases

Tax Fraud Blotter: Blessed is the weed

Not so Fussy; that's a wrap; at sea, in the air and on the road; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

January 16
Practice and client management

Guiding clients through the tax implications of a divorce

The emotionally and financially taxing process of a separation demands careful planning, multifaceted form-filing to the IRS and, probably, an advisor for each spouse.

By Tobias Salinger
Chief Correspondent

January 16

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.