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.

  • A federal grand jury indicted 10 people at a private investigator's office, charging them with a scheme to obtain confidential information on more than 12,000 citizens across the country, including their tax, medical and employment information, by posing as employees of the Internal Revenue Service, the Social Security Administration, doctor's offices and other businesses.

    December 7
  • Cosmi Corp. introduced a consumer tax prep package to compete with Intuit's TurboTax and H&R Block's TaxCut, with the help of CCH tax experts providing information and support.

    December 7
  • The U.S. Supreme Court issued a unanimous decision that will allow railroads to challenge state methods for determining the value of railroad property, as well as how those methods are applied.

    December 6
  • Accounting firm Hausser + Taylor has changed its name to Maloney + Novotny and severed its association with RSM McGladrey.

    December 5
  • Tax pros have their own rituals for getting ready for tax season, including checking supplies, test-driving software, training staff, sending out organizers, and wrapping up year-end planning tips for their clients.

    December 5
  • Senate Finance Committee Chairman Max Baucus, D-Mont., and House Ways and Means Committee Chairman Charles Rangel, D-N.Y., unveiled a $21 billion package of energy tax legislation that Congress will consider this year, although opposition is expected from the White House as the bill would raise taxes on major oil and gas producers.

    December 5
  • The Internal Revenue Service has found problems with many of the conservation easements it gives to landowners in Colorado.

    December 4
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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.