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

Wealthy Taxpayers Misreport Income More

A recent study of unpublished Internal Revenue Service data has found that wealthier people are hiding their income at greater rates than those in lower income brackets.

October 22
Tax practice

Companies Opt to Settle with IRS on Tax Shelters

The Internal Revenue Service reported that it has seen a strong response to its settlement offer for two types of tax shelters, with companies agreeing to pay back taxes totaling billions of dollars.

October 21
Tax practice

What Kind of Stimulus Will Work?

Federal Reserve Chairman Ben Bernanke has given new life to calls for an economic stimulus package, but exactly what it will be is anybody's guess.

October 21
Audit

NYSSCPA to Hold Auditing Conference

The New York State Society of CPAs and its Foundation for Accounting Education plan to hold an auditing conference on Oct. 27.

October 21
Tax research

Cindy McCain Releases 2007 Tax Information

Cindy McCain has released the summary pages of her recently filed 2007 federal tax return.

October 20
Tax research

BNA Mourns Vice Chair Sandra Degler

BNA said its vice chair, Sandra C. Degler, has died of cancer.

October 20
Audit

IRS Employee Sentenced for Accessing Friend's Info

An Internal Revenue Service employee has been sentenced to one year's probation for improperly accessing tax information about one of his acquaintances.

October 20

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.