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.

  • CCH has named Dee Hairgrove as vice president of ProSystem fx Tax development.

    November 15
  • The U.S. Treasury Dept. has released a study on the income mobility of U.S. taxpayers between 1996 and 2005, and found evidence of upward mobility even as the gap between incomes at the upper and lower ends of the scale has grown.

    November 14
  • Two firms in South Florida said they were merging, with Berenfeld, Spritzer, Shechter & Sheer LLP, expanding by combining with Lefcourt, Billig, Tiktin & Yesner.

    November 14
  • Southern accounting firm Carr, Riggs & Ingram has acquired Bumpus Hall, allowing the firm to expand into the Nashville area.

    November 13
  • The House has voted to approve a $78 billion bill that would provide a temporary fix to prevent the alternative minimum tax from spreading to about 23 million more taxpayers this coming tax season.

    November 12
  • Intuit appointed R. Neil Williams as its new chief financial officer, succeeding Kiran Patel, who in June became general manager and senior vice president of the company's consumer tax business.

    November 12
  • Lawyers for actor Wesley Snipes have filed a motion requesting a change of venue in his tax evasion trial, claiming that the current location is "a hotbed of Klan activity."

    November 12
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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.