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.

SALT deduction

New York's Lawler says SALT cap must go to pass GOP tax bill

A New York Republican congressman says that lifting the cap on state and local taxes will be crucial to getting Trump's tax overhaul through the House.

By Bloomberg News

November 21
Tax season

Jackson Hewitt looks to hire thousands for tax season

The tax prep giant is once again looking to bring on 18,000 seasonal workers.

By Jeff Stimpson
Freelance writer

November 21
Finance, investment and tax-related legislation

Tough choices ahead in the federal, state and local tax landscape

Who controls how many branches of government is having repercussions at every level.

By Roger Russell
Senior Editor

November 21
Technology

TaxPlanIQ releases pricing tool for advisory services

TaxPlanIQ released a new workbook and calculator for its ROI Method of Value Pricing for advisory services.

By Chris Gaetano
Technology Editor

November 20
Technology

Intuit and H&R Block fall on report of 'DOGE' interest in tax app

The leaders of President-elect Donald Trump's "Department of Government Efficiency" discussed creating a new way for Americans to file their taxes.

By Bloomberg News

November 20
IRS

IRS interest rates decrease for Q1 2025

For individuals, the overpayment and underpayment rate will be 7%.

By Jeff Stimpson
Freelance writer

November 20
AT Think In the blogs: Questions for the moment

Fighting scope creep; QCDs as the year ends; advising ministers; and other highlights from our favorite tax bloggers.

November 19

Jeff Stimpson

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.