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.

  • The Internal Revenue Service is encouraging more midsized companies to file their corporate returns electronically as the Sept. 17 deadline approaches for calendar-year filers who asked for extensions.

    August 23
  • More than 8 million people file tax returns each year who don’t need to do so, imposing heavy costs on the Internal Revenue Service, according to a new report from a Treasury Department watchdog.

    August 22
  • British firm Bentley Jennison has joined the RSM International network of audit, tax and consulting firms, expanding RSM’s reach abroad.

    August 22
  • The Justice Department sued the founder of an “asset protection” business that allegedly helped clients evade income taxes and hired actor Robert Wagner to plug its services.

    August 21
  • Tax information publisher BNA introduced the BNA Tax and Accounting Center, an online service that unites all of the company’s tax and accounting information in one place.

    August 21
  • The Houston Business & Tax Law Journal plans to hold a symposium in October on the patenting of tax strategies, an idea that has already generated some controversy among patent defenders and critics.

    August 21
  • The Taxpayer Advocacy Panel has issued a report calling on the Internal Revenue Service to improve its services and customer satisfaction as well as reduce the burden on taxpayers.

    August 20
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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.