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

Survey Forecasts Few Tax Changes

A survey of leading corporate tax executives predicts that taxes will not be a major issue in Congress in 2008, apart from the one-year alternative minimum tax patch and the one-year extenders package.

February 7
Tax planning

Kellogg & Andelson Acquires UHY Office

Kellogg & Andelson Accountancy Corp. has acquired the Los Angeles office of a subsidiary of UHY Advisors.

February 7
Tax practice

Congress Passes Stimulus Package

The Senate and the House have passed an economic stimulus package that adds tax rebates for 20 million senior citizens and 250,000 disabled veterans to a package passed by the House last week.

February 7
Tax research

Jeter Settles Tax Flap

New York Yankees captain Derek Jeter has reportedly settled his tax problems with the State of New York.

February 6
Tax planning

Gilman Ciocia Acquires Kelchlin

Gilman Ciocia has acquired Kelchlin Business Services, an accounting firm located in the Buffalo, N.Y., suburb of Depew.

February 6
Tax practice

Tax Season Essentials: W-2 Social Security Box Moves

The Social Security Administration and the Internal Revenue Service have moved several boxes on Form W-2.

February 6
Tax practice

Bush Budget Plan in Focus

The White House has issued its budget for the coming year, and as usual it is already drawing complaints.

February 6

Resources

The latest Accounting Today research and discussion:

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
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
On-Demand Web Seminar Tax Planning for 2027

This webinar will look at key opportunities and stumbling blocks for practitioners

Sponsored by 8am CPACharge

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.