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 planning

Judge Declines to Dismiss Jackson Hewitt Suit

A federal judge has turned down Jackson Hewitt's request to have a class-action lawsuit dismissed against the company and some of its franchises.

August 26
Tax research

IRS Places Tax Lien on Ruben Studdard

American Idol winner Ruben Studdard is facing tax liens from the Internal Revenue Service and the state of Alabama for failing to pay more than $193,000 in back taxes.

August 25
Tax practice

Taxpayers Subsidize CEO Pay

Average U.S. taxpayers subsidize executive compensation by more than $20 billion per year, thanks to various tax and accounting loopholes, according to a new report.

August 25
Tax research

Aussie Authorities Probe Crocodile Dundee's Taxes

Australian tax authorities are continuing to investigate the taxes of actor Paul Hogan, star of the hit Crocodile Dundee movies.

August 25
Tax practice

Online Retailer Rebels Against Sales Tax

Web electronics site Newegg has sent an e-mail to customers saying that it will not comply with a controversial New York State law requiring Internet retailers to collect sales tax for purchases by state residents.

August 24
Tax practice

Court Bars Tax 'Decoding' Scam

A federal court has permanently barred a Tacoma, Wash., woman from selling a tax scam, according to the Justice Department.

August 24
Technology

Petz Adds Text Messaging to 1040 Software

Petz Enterprises has introduced TextLink, a text-messaging service for its CrossLink 1040 Professional Tax Software.

August 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.