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 practice

Congresswoman Introduces Bill to Tax Millionaires and Billionaires

Rep. Jan Schakowsky, D-Ill., has introduced a bill that would levy taxes of 45 to 49 percent on millionaires and billionaires.

March 18
Career moves

Breeden Resigns as H&R Block Chairman

H&R Block chairman Richard Breeden plans to step down on April 18.

March 18
Tax practice

Tax Reform Shouldnt Be Much of a Threat to Accountants

It’s comforting to know that tax reform is proceeding apace on several different fronts.

By Roger Russell
Senior Editor

March 17
Tax practice

Camp Proposes Cutting Top Tax Rates to 25%

House Ways and Means Committee Chairman Dave Camp, R-Mich., has proposed reducing the top individual and corporate tax rate to 25 percent.

March 17
Tax practice

Intuit Sees Increase in First-Time Pro E-filers

Intuit reported Thursday that it has seen an increase in the number of tax returns electronically filed by professional preparers so far this tax season.

March 17
Tax practice

Congress Deliberates on Taxes and Abortions

The House Ways and Means Subcommittee on Select Revenue Measures held a hearing Wednesday on the tax implications of a proposed bill aimed at preventing taxpayer money from being used to fund abortions.

March 16
Tax practice

Congressman Proposes Bill to Let IRS Prepare Taxes

A Tennessee congressman has introduced a bill that would allow the Internal Revenue Service to prepare taxes for a taxpayer.

March 16

Resources

The latest Accounting Today research and discussion:

Web Seminar The most important supply for tax firms isn't found on shelves

In this webinar, we'll show you how tax and accounting professionals are leveraging new technologies to make their firms more efficient and to stay ahead of competitors.

Partner Insights from Thomson Reuters
On-Demand Web Seminar The psychology of a modern tax workflow: Reducing anxiety, decision fatigue & compliance risk

In this session you'll learn practical, firm-tested principles to reduce confusion, improve predictability, and strengthen both client and staff confidence.

Partner Insights from SmartVault
On-Demand Web Seminar Tax Planning for 2027

This webinar will look at key opportunities and stumbling blocks for practitioners

Sponsored by 8am CPACharge

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.