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.

Finance

CPAs Offer Financial Literacy Calendar

The Virginia Society of CPAs is offering a free financial wall calendar for consumers, developed in partnership with the American Institute of CPAs.

December 8
Tax practice

Man Sentenced to 210 Months for $60M Tax Fraud

The fourth of six defendants in a $60 million tax fraud conspiracy case has been sentenced to more than 17 years in prison for his role.

December 8
Audit

Former IRS Commissioner Brown Joins PwC

Former Internal Revenue Service Acting Commissioner Kevin Brown has joined PricewaterhouseCoopers as a partner in the firm's IRS Service Team.

December 5
Tax practice

Group Urges Obama to Scale Back Estate Tax Cuts

Tax advocacy group Citizens for Tax Justice has released a report urging President-elect Barack Obama to avoid cutting the federal estate tax.

December 5
Tax practice

IRS Practitioner Tax Center

Disaster Relief Resource Center for Tax Professionals

December 5
Tax practice

Obama Drops Windfall Profits Tax

President-elect Barack Obama has quietly dropped his original proposal for a windfall profits tax on oil companies, according to a spokesperson.

December 4
Audit

KPMG Tax Case Not Going to Supreme Court

Prosecutors have decided not to appeal the dismissal of charges against 13 defendants in the KPMG tax shelter case to the U.S. Supreme Court.

December 4

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.