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.

Technology

Tax automation tools top firms' wishlists

A survey from Wolters Kluwer found that accounting firms are planning major tech investments in 2025.

By Chris Gaetano
Technology Editor

January 15
IRS

IRS Advisory Council names 18 new members

The newly appointed council members will serve three-year terms.

By Jeff Stimpson
Freelance writer

January 15
International taxes

World readies for Trump tariffs

Shortly after Trump's victory, countries began quietly looking for ways to avoid tariffs — or to retaliate.

By Bloomberg News

January 15
IRS

Tax pros brace for 2026: Trump, TCJA extensions and crypto

The Internal Revenue Service ended 2024 with new regulations on reporting cryptocurrency transactions, amendments for outdated provisions and more.

By Frank Gargano
Data Reporter

January 15
AT Think In the blogs: Buzzing sounds

Flat tax; doubts about 'automatic' IRS calculations; when to shred; and other highlights from our favorite tax bloggers.

January 14

Jeff Stimpson
IRS

IRS works to deter tax season scams

The Internal Revenue Service is making some changes this tax season in an effort to combat tax scams in areas like the Fuel Tax Credit.

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

January 14
Donald Trump

Trump floats 'External Revenue Service' for tariffs

The post on Truth Social is the latest indication that the president-elect aims to carry out his promises for sweeping trade levies when he retakes office.

By Gregory Korte

January 14

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.