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.

Practice and client management

The top tax stories of 2024 for financial advisors

Here's a roundup of tax-related news and insights on politics, practice management, investment strategies, health savings accounts, estate planning and more.

By Tobias Salinger
Chief Correspondent

December 23
IRS

IRS proposes new requirements for tax pros

If enacted, the regs would require practitioners to maintain a certain level of technological competence, among other things.

By Jeff Stimpson
Freelance writer

December 23
State taxes

The best and worst states for individual taxes

From those with no individual income tax at all, to those with complex tax structures — a guide to most and least competitive states when it comes to individual income taxes.

By Editorial Staff

December 23
Tax-related court cases

Tax Fraud Blotter: Crooks R Us

The shadow knows; body of evidence; make a Note of it; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

December 20
Accounting

Accounting in 2025: The year ahead in numbers

Accounting Today's annual survey reveals firms' expectations, worries and plans for the next 12 months.

By Daniel Hood
Editor-in-chief

December 20
Technology

Tech news: Wolters Kluwer adds conversational AI

Plus, HubSync adds bevy of new enhancements; Crowe announces cyber risk analysis solution; and other accounting tech news.

By Chris Gaetano
Technology Editor

December 20
AT Think Alternative investments tax pros need to know

These strategies are more than just smart tax moves; they're powerful tools for reshaping financial outcomes.

December 20

Jackie Meyer

TaxPlanIQ

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.