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

New Bill Would Eliminate IRS Penalties and Interest

A Republican congressman has introduced a bill that would provide all U.S. taxpayers with immunity from IRS penalties and interest, but the main goal seems to be tweaking his Democratic colleagues.

January 29
Tax practice

House Approves Stimulus Package

The House has approved an $819 billion economic stimulus package despite unanimous Republican opposition.

January 29
Tax practice

IRS Taps Former Block CEO as Deputy Commissioner

Former H&R Block Chairman and CEO Mark Ernst has taken a job with the Internal Revenue Service as deputy commissioner for operations support.

January 28
Tax practice

Senate Committee Approves Stimulus Tax Cuts

The Senate Finance Committee has approved approximately $522 billion in tax cuts, incentives and investments by a vote of 14-9.

January 28
Tax practice

Stimulus Wends Its Way

Congress and the Obama administration are crafting what is shaping up to be the single most expensive spending bill in American history, and nobody can agree on whether it will work.

January 28
Tax practice

Lawmakers Hone Tax Stimulus Package

The Senate Finance Committee is considering President Obama's economic stimulus package as leaders call for increased tax cuts.

January 27
Technology

SpeedTax Offers Business Partner Programs

Online sales tax management software developer SpeedTax has introduced business partner programs for technology consultants who resell products from Sage, Microsoft and Intuit.

January 27

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.