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-related court cases

Tax Fraud Blotter: Pro and con

J'accuse; just a little boost; independent thinking; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

November 29
IRS

IRS could lose another $20B in funding

The Treasury is warning Congress that it needs lawmakers to unlock funding for the Internal Revenue Service that could be rescinded due to legislative language.

By Michael Cohn
Editor-in-chief, AccountingToday.com

November 27
AT Think Get intentional and reclaim your calendar

By viewing time as a valuable asset — much like the financial assets you manage for clients — you can make better choices about how you invest your hours.

November 27

Amy Vetter

The B3 Method Institute
IRS

Notable 401(k) and IRA plan changes for 2025

The IRS introduced changes to certain contribution limits to 401(k) and retirement plans for 2025, while some limits will remain the same.

By Editorial Staff

November 27
IRS

IRS funding and preparer oversight are top issues for IRSAC

The IRS Advisory Council's annual report covered 37 different areas of concern and recommendations.

By Jeff Stimpson
Freelance writer

November 26
Trump tax plan

Trump tax policy 2.0: 11 proposed changes and impacts

What does the 2024 Trump tax plan mean for you and your clients this time around?

By Blake Christian and Cole Dellinger

November 26
AT Think In the blogs: You will survive

Saving Social Security; sued over an address; more 5471 opinions; and other highlights from our favorite tax bloggers.

November 26

Jeff Stimpson

Resources

The latest Accounting Today research and discussion:

Web Seminar Tax season postmortem: What to fix for 2027

Join us for a transparent look at the challenges facing firms this year and how to overcome them for 2027.

Partner Insights from Canopy
On-Demand Web Seminar Rethinking busy season: A modern operating model for K-1s

Busy season is over—but the bruises are still fresh. Many firms expected smoother K-1 workflows, yet encountered the same familiar bottlenecks, last-minute delays, and staff burnout. Instead of tweaking around the edges, we'll explore a modern operating model for managing K-1s at scale – from intake through exchange – designed to reduce rework, cycle time, and eliminate seasonal chaos.

Partner Insights from K1X
Tariffs and your clients

Dean Peterson and Blair Robbins of Eisner Advisory Group discuss the tax and business ramifications of the Trump administration's tariff policies that accountants should be advising clients about.

Sponsored by Intuit Quickbooks

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.