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 planning

IRS Gives Advice on Choosing Tax Preparers

The Internal Revenue Service has offered taxpayers tips on choosing tax preparers as part of the agency's efforts to combat tax preparer fraud.

January 14
Tax practice

Taxing Virtual Worlds

The IRS could start taxing virtual environments like Second Life and World of Warcraft to get a cut of the real dollars that are spent on potions, armor and weapons in the online gaming world.

January 14
Finance

Geithner Admits Back Tax Problems

Treasury Secretary-designate Timothy Geithner admitted owing more than $34,000 in self-employment taxes between 2001 and 2004.

January 14
Tax practice

IRS May Expand Enforcement During Tax Processing

A new report by the Government Accountability Office on last tax-filing season suggests the Internal Revenue Service beef up its enforcement efforts while it processes returns.

January 13
Tax practice

Majority of Americans Would Fail Tax Quiz

A survey of over 1,000 U.S. adults found that most of them could not answer basic tax questions.

January 13
Tax practice

CCH Speeds Access to IRS Tax Transcripts

CCH has introduced an online service that promises to offer tax professionals a way to get faster access to client documents from the Internal Revenue Service.

January 13
Tax practice

Woman Sues IRS After She is Fired for Wearing Knife to Work

An internal revenue agent has sued the IRS for firing her after she insisted on wearing a ceremonial knife on the job.

January 12

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.