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.

  • Joe Francis, founder of the Girls Gone Wild video series, pleaded not guilty to two counts of federal tax evasion, saying he was being victimized by the Internal Revenue Service's whistleblower program.

    July 22
  • Eight state CPA associations have signed deals with LeapFile, a company that provides secure file transfers, to offer some of its services to their members for free.

    July 22
  • A Senate subcommittee plans to release another blockbuster report on the use of foreign tax havens after the first reports caused repercussions both here and abroad.

    July 22
  • The Internal Revenue Service said it plans to send a second set of information packages to an estimated 5.2 million retirees and disabled veterans who have not yet filed their tax returns in order to give them their economic stimulus payments.

    July 21
  • The New York State Department of Taxation and Finance has reportedly sent letters to 182,000 individual taxpayers asking them to justify the tax refunds they have requested.

    July 21
  • More than 28 percent of large public companies are not fully meeting disclosure requirements for tax reserve estimates, according to a new report.

    July 21
  • Consideration of any tax reform for small business must take into account the difficulties small-business owners face when deciding how to structure their business and comply with the Tax Code’s complex requirements, said Dewey Martin, a Hampden, Maine-based CPA.Martin, who testified at the recent hearings before the Senate Finance Committee on business entities and small-business tax reform, is a small-business owner himself, as well as an advisor to 200-plus small-business owners and chair of the Accounting Department at Husson College in Bangor, Maine.

    July 20
Resources
The latest Accounting Today research and discussion:




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.