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.

  • In a deal that lawmakers and the White House hope will help jumpstart a wheezing economy, leaders on both sides of the aisle agreed on a $150 billion economic stimulus plan that would hand most taxpayers rebate checks of between $600 and $1,200.

    February 25
  • A case currently before the U.S. Supreme Court could have huge implications for state tax law when it's decided in late spring.

    February 25
  • IRS FILES OVERWHELM STORAGE SPACE

    February 25
  • Former pro baseball player Lenny Dykstra plans to fight a lawsuit from his former accounting firm, which claims he owes the firm $111,097 in fees.

    February 25
  • Regional accounting firm Cherry, Bekaert & Holland has acquired Massey + Pittman, giving the firm a larger presence in the Atlanta area and expanding its real estate and construction industry group.

    February 25
  • The Internal Revenue Service has given some farmers, fishermen and other agricultural industry taxpayers until March 10 to electronically file the newly revised Form 4136, "Credit for Federal Tax Paid on Fuels."

    February 25
  • The Marketplace provides you, the tax and accounting professional, a tool to help find the products and services you need to easily and efficiently run your practice or to recommend to your clients. Browse by category below or search by company name.

    February 25
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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.