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

Texas Hurricane Victims Get Extra Tax Relief

The Internal Revenue Service said that Texas taxpayers harmed by Hurricane Ike qualify for tax relief and can postpone their tax-filing and payment deadlines until Jan. 5, 2009.

September 18
Tax practice

IRS Warns of Industry-Specific Issues

The Internal Revenue Service has released a list of industry-specific issues that its auditors may consider when examining a business's returns.

September 18
Tax planning

D.C. Tax Manager Pleads Guilty to $48.1M Fraud

A former District of Columbia tax office manager has pleaded guilty to running a scam that resulted in nearly $50 million in fake property tax refund checks being issued to her and her associates.

September 17
Tax practice

Analysts Forecast 2009 Tax Brackets and Deductions

CCH and Thomson Reuters' RIA unit have calculated the inflation-adjusted amounts for tax brackets, standard deductions and exemptions for next tax season.

September 17
Tax practice

Rangel to Hire Forensic Accountant

Rep. Charles Rangel, D-N.Y., plans to hire a forensic accountant to sort through his tax liabilities as he comes under increasing pressure to step down from his chairmanship of the tax-writing House Ways and Means Committee.

September 16
Audit

KPMG Loses $17.6 Million Verdict in Tax Advice Case

KPMG was on the losing side of a $17.6 million verdict in a case involving an investor who claimed the firm gave him bad tax advice.

September 16
Tax practice

Senate Leaders Agree on AMT Patch and Tax Extenders

Senate leaders in both parties have agreed on patching the alternative minimum tax for another year, passing a set of clean energy tax incentives and extending several expiring tax cuts for businesses and families.

September 16

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.