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

Waiver expanded for some accounting method changes

A new IRS revenue procedure is applicable for some research or experimental expenses.

By Jeff Stimpson
Freelance writer

December 26
AT Think In the blogs: Just in time

BOI is back; phantom stocks; continuous compliance; and other highlights from our favorite tax bloggers.

December 24

Jeff Stimpson
Retirement planning

5 changes for IRAs and 401(k)s in 2025

The SECURE 2.0 Act contained changes to traditional and Roth individual retirement accounts and 401(k) plans that are being phased in over several years.

By Editorial Staff

December 24
Corporate taxes

CAMT: 'Its own little tax system'

Proposed regs for the corporate alternative minimum tax may place a major burden on smaller partnerships.

By Roger Russell
Senior Editor

December 24
IRS

IRS to send out $2.4B for unclaimed credits

The agency will send out checks for up to $1,400 to taxpayers who didn't claim the Recovery Rebate Credit.

By Jeff Stimpson
Freelance writer

December 24
Tax returns

Santa Claus's tax return released

H&R Block is making the jolly old elf and small-business owner's tax details public for the first time.

By Jeff Stimpson
Freelance writer

December 24
International taxes

Public losing trust in taxes

Only about one-third of taxpayers globally believe tax revenues in their country are being spent for the public good.

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

December 24

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.