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

IRS phases in Form 1099-K threshold at $2,500 in 2025

The Internal Revenue Service extended its transition relief for the new Form 1099-K information reporting threshold.

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

November 26
Tax breaks

Tesla excluded from EV buyer credits in California proposal

Tesla Inc.'s electric vehicles would be shut out from consumer rebates under a proposal by California Governor Gavin Newsom, pitting him against Elon Musk.

By Bloomberg News

November 26
Tax breaks

Colleges' bond tax break at risk

A Republican sweep in November's election threatens a niche tax break that helps American colleges upgrade dorms and academic buildings on campus cheaply.

By Amanda Albright
Reporter

November 26
Sales tax

Voluntary sales tax disclosure: A potential boon for states and retailers

A pending proposal from the Streamlined Sales Tax Governing Board would let businesses that haven't been remitting sales tax come in from the cold.

By Roger Russell
Senior Editor

November 26
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

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.