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 cuts

Trump allies fret tax-cut plans at risk with GOP infighting

Republicans broadly agree that there's little room for error on what is a rare opportunity for the GOP to update the Tax Code without having to make any concessions to Democrats.

By Steven T. Dennis and Billy House

January 9
IRS

IRS Free File starts Jan. 10

The program will start accepting individual returns to be held for filing once tax season kicks off.

By Jeff Stimpson
Freelance writer

January 9
Tax relief

Extra filing time granted for Carter remembrance

Any returns or payments due on Jan. 9 can be sent in on Jan. 10.

By Jeff Stimpson
Freelance writer

January 9
Tax evasion

UBS set to settle Credit Suisse US tax evasion case, WSJ reports

UBS Group is close to making a settlement of at least hundreds of millions of dollars over violations by Credit Suisse of a decade-old agreement with the DOJ.

By Bloomberg News

January 9
Growth Content

The best and worst states for sales taxes

Data from the Tax Foundation's 2025 State Tax Competitiveness Index ranked which states compete on sales and excise taxes, and which don't.

By Editorial Staff

January 9
IRS

Taxpayer Advocate spotlights IRS delays in ERC claims

Taxpayer Advocate Erin Collins released her annual report, highlighting improvements in taxpayer service, but pointing to persistent delays.

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

January 8
Tax fraud

Tax fraudster ordered to reveal Bitcoin access codes to $124M

An early Bitcoin investor sentenced to two years in prison for tax fraud related to cryptocurrency sales has been ordered to disclose his secret pass codes.

By David Voreacos

January 8

Resources

The latest Accounting Today research and discussion:

Web Seminar Tax season postmortem: What to fix for 2027

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

Partner Insights from Canopy
On-Demand 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.