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.

Technology

Intuit Ranks on Influential Company List

Tax and accounting software vendor Intuit made BusinessWeek's list of the World's Most Influential Companies.

December 30
Tax practice

IRS Changes Regulations on Foreign Sales Income

The Internal Revenue Service is proposing temporary regulations on foreign base company sales income.

December 29
Tax practice

IRS Finalizes Nonprofit Form 990

The Internal Revenue Service has finalized the revised Form 990 and 990-EZ information returns that tax-exempt organizations will need to file next year.

December 26
Tax research

IRS Revises Tuition Program Rules

The Internal Revenue Service has given Section 529 tuition programs the ability to change their investment strategies more frequently in response to the financial crisis.

December 26
Tax practice

Tax Law Changes Reduce Taxes Next Year

Lawmakers have passed more than 100 new tax law changes that could help millions of individual taxpayers save money on their taxes this coming season.

December 26
Tax practice

IRS Collects Billions Less from Audits

The Internal Revenue Service collected about $3 billion less in revenue from audits this year after assigning staff to work on processing economic stimulus payments.

December 24
Tax research

Getting Fat off the Obesity Tax

New York Governor David Paterson is trying to close a record deficit of $15.4 billion with 137 new tax and fee increases, including a new tax on sugary sodas.

December 24

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.