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's major legislative agenda will pass by May, Johnson says

Johnson said the massive bill would address issues such as border security, including money for the mass deportations of undocumented immigrants; and an extension of the 2017 Trump tax cuts.

By Bloomberg News

January 6
Tax cuts

Trump picks tax policy chief at Treasury

The president-elect has announced members of his senior leadership team at the Treasury, who'll work alongside Scott Bessent, his pick for secretary.

By Laura Davison
Capitol Hill tax reporter

January 3
Tax credits

Car sales get boost from Trump's threat to end EV credits

EV sales grew 12% in the fourth quarter of 2024, pushing the full-year total to a record 1.3 million.

By Gabrielle Coppola
Reporter

January 3
Tax-related court cases

Tax Fraud Blotter: Job woes

Heavy metal; with a side of alimony; Landing in jail; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

January 2
Technology

Thomson Reuters acquires SafeSend

Thomson Reuters acquired cPaperless, doing business as SafeSend, for $600 million in cash to expand its tax and accounting offerings.

By Paige Hagy
Reporter

January 2
Practice management

The most-read stories of 2024 in accounting

The worsening talent shortage and new policies from the Internal Revenue Service top the list of the stories our readers flocked to.

By Frank Gargano
Data Reporter

January 2
AT Think In the blogs: Meltdown mode

Foreshadowing TCJA talk; BOI ping-pong; rightful claims; and other highlights from our favorite tax bloggers.

December 31

Jeff Stimpson

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.