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.

IRS

Final regs issued for clean energy partnership credits

Entities that co-own clean energy projects can access clean energy tax credits through elective pay, according to the IRS.

By Jeff Stimpson
Freelance writer

November 26
IRS

IRS plans National Tax Security Awareness Week

The Internal Revenue Service and its partners in the public and private sectors are planning to highlight the importance of cybersecurity next week.

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

November 25
IRS

IRS extends R&D tax credit transition period

The Internal Revenue Service is extending the transition period for revising claims for the research and development tax credit through Jan. 10, 2026.

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

November 25
Portfolio management

The most wonderful time of the year, for tax-loss harvesting

Avoiding fund distributions or using offsetting losses in any month can deliver big savings on payments to Uncle Sam at the end of the year, experts say.

By Tobias Salinger
Chief Correspondent

November 25
Tax credits

California pledges EV rebate if Trump kills tax credit

California Governor Gavin Newsom is promising to step in with a state electric-car tax credit if Trump repeals a federal subsidy after he takes office.

By Bloomberg News

November 25
Treasury Department

Trump nominates hedge fund chief to lead Treasury

Scott Bessent is expected to play a key role in pushing for a renewal of Trump's 2017 tax cuts, many of which are set to expire at the end of 2025.

By Saleha Mohsin
Reporter

November 25
IRS

TCJA extensions or revisions: What lies ahead for 2025

With Republican control of Congress, Donald Trump will have a greater chance of success in renewing parts of his 2017 Tax Cuts and Jobs Act.

By Frank Gargano
Data Reporter

November 25

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.