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

IRS to Assess Risks of Tax Software

The Internal Revenue Service should determine whether using tax software creates any security and compliance risks, recommended the Government Accountability Office in a new report.

April 2
Audit

Former KPMG Execs Sentenced in Tax Case

Two former KPMG managers received prison terms and multimillion-dollar fines in a long-running tax shelter case.

April 2
Tax practice

IRS Grants Relief to Flood Victims

Victims of severe flooding in Minnesota and North Dakota have an extra 30 days, until May 15, to file their 2008 individual tax returns and pay any taxes due.

April 2
Tax practice

Congress Passes Budget Plan

Both the House and Senate approved the Democrats’ version of a $3.5 trillion budget plan for fiscal year 2010, but without a single Republican vote.

April 2
Tax planning

Practical Accountant Ranks Top Regional Accounting Firms

Practical Accountant magazine has released its 16th annual survey of the top regional accounting firms across the U.S.

April 2
Tax practice

Accountant Arrested for UBS Tax Shelters

The first U.S. client of Swiss bank UBS has been arrested on tax evasion charges by federal authorities, and he’s an accountant.

April 2
Tax practice

Congress to IRS: Go Easy on Small Biz

Lawmakers at a congressional hearing Wednesday pressed Internal Revenue Service Commissioner Douglas Shulman to ease up on audits of small businesses.

April 1

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
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.