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.

  • While late-year legislative changes again delayed filing for some taxpayers, the season proceeded relatively smoothly, according to veteran practitioners.“It was one of the smoothest ones I’ve had, and my colleagues say the same. In part it’s because the software is getting better,” said Holliston, Mass.-based preparer Larry Novick. “I did notice that a lot fewer of my clients claimed non-cash contributions, and the amount of collection plate contributions decreased substantially. Most of them had heard of the stricter substantiation rules.”

    June 1
  • The number of tax evasion prosecutions fell 5.3 percent last year, continuing a steady decline for at least two decades, according to a new study.

    May 29
  • The American Institute of CPAs has sent the Internal Revenue Service a spreadsheet-full of comments on the draft instructions for the revised Form 990 that will be used by tax-exempt organizations to file their returns next year.

    May 29
  • The Internal Revenue Service won another tax shelter case, this one involving a sale-in/lease-out transaction.

    May 29
  • The New York State Society of CPAs has promoted Joanne Barry to deputy executive director.

    May 29
  • The brother of the former manager of the Washington, D.C., tax office has pleaded guilty in a wide-ranging tax scandal.

    May 29
  • The Internal Revenue Service reported that its e-file program set another record this tax season, with more than 86 million individual tax returns filed so far this year, a 12 percent increase over last year at this time.

    May 28
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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.