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 practice

Man Arrested in Attempted Murder of IRS Employee

A Florida man was arrested for trying to hire a hit man to kill an Internal Revenue Service employee who had been investigating his personal and business tax liabilities.

July 31
Tax practice

Senate Discusses Health Benefits in the Tax Code

The Senate Finance Committee held a hearing on incentives for providing health benefits in the Tax Code.

July 31
Tax practice

IRS Revises Business Tax Forms

The Internal Revenue Service has released draft revisions of the Corporate 1120 and Partnership 1065 tax forms, along with related schedules, for public comment.

July 30
Tax practice

Bush Signs Housing Rescue Bill

President Bush has signed into law a bill that will help homeowners facing foreclosure and shore up Fannie Mae and Freddie Mac.

July 29
Tax practice

Businesses Owe $58 Billion+ in Payroll Taxes

Over 1.6 million businesses owed more than $58 billion in unpaid federal payroll taxes, including interest and penalties, as of last September, according to a new report.

July 29
Tax practice

To Hike or Not Hike Payroll Taxes

Sen. John McCain, R-Ariz., is provoking some ire among conservatives for a comment he made Sunday that appears to be a bit of a retreat from his no-tax-increase pledge.

July 29
Tax practice

Senate Approves Housing Bailout Bill

The Senate has passed a housing rescue plan by a vote of 72-13 aimed at stemming the tide of foreclosures and shoring up Fannie Mae and Freddie Mac.

July 28

Resources

The latest Accounting Today research and discussion:

Special Report The Future of Tax Services

Tax compliance will never go away, but more and more it will only be the foundation of much more profitable tax planning and tax advisory offerings — provided they start taking the right steps to build up those services.

Sponsor Content from Accordance Aug 2026
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
On-Demand 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

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.