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.

AT Think Maximize tax benefits with year-end tax planning

With changing tax regulations and incentives, staying informed about the latest updates is crucial for optimizing client outcomes.

December 11

Greg Bryant

Source Advisors
IRS

Modernized e-File system slates shutdown for December

IRS Business Modernized e-File system will partially and temporarily offline for maintenance just before the end of the year.

By Jeff Stimpson
Freelance writer

December 11
Joe Biden

Biden defends economic record

President Joe Biden also warned that Donald Trump's plans to extend tax cuts and reshape global trade through tariffs risked reversing economic gains.

By Gregory Korte and Josh Wingrove

December 11
Trump tax plan

Treasury nominee to meet with senators

Scott Bessent, President-elect Donald Trump's pick to serve as Treasury secretary, is aiming to build support for his nomination

By Bloomberg News

December 11
AT Think CPAs are collateral damage in DOL freelance rule

An Atlanta court ruled in favor of a Biden administration Department of Labor guideline reclassifying many freelancers as full-time employees.

December 10

Petr Marek

Invoice Home
State taxes

Boston's plan to hike commercial property taxes fails

Boston relies heavily on property tax revenue, making it particularly vulnerable to the nationwide slump in office demand.

By Bloomberg News

December 10
AT Think In the blogs: Respect the unexpected

BOI on hold; the TCJA and future budgets; using private equity; and other highlights from our favorite tax bloggers.

December 10

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.