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

Tax Season Essentials: Additional Standard Deduction for Real Estate Taxes

There is an additional standard deduction for those who don’t qualify to itemize their tax deductions, but who do pay state or local real estate taxes, according to the Internal Revenue Service. This deduction is available for the 2008 and 2009 tax years.

March 9
Tax practice

IRS Reforms Contracting Practices

In the wake of its decision not to renew contracts with two private debt collection agencies, the Internal Revenue Service now appears set to review other types of outside contracts.

March 8
Technology

CCH Integrates Sales Tax Software with Dynamics

CCH has closely integrated its CorpSystem Sales Tax Office software with Microsoft Dynamics GP.

March 8
Tax research

30 Years in Jail for Attempted Hit on IRS Agent

A Florida man has been sentenced to 30 years in prison for hiring a hit man to murder an Internal Revenue Service employee who was auditing him and his construction business.

March 6
Tax practice

IRS Nixes Private Collection Contracts

The Internal Revenue Service has decided not to renew its contracts with two private debt collection agencies.

March 6
Tax practice

IRS Sees Taxpayers Filing Earlier This Season

The Internal Revenue Service said that taxpayers are filing their taxes earlier and receiving larger refunds so far this year, citing early filing season statistics.

March 6
Audit

Tax Season Essentials: Avoiding a Tax Audit

All taxpayers dread the prospect of facing an Internal Revenue Service audit. Here is some advice from the New Jersey Society of CPAs on some steps taxpayers can take to minimize the likelihood they will be audited or ensure a more positive experience if they are:

March 6

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.