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 planning

TCJA extension or sunset: Gamechangers for professional athletes

Uncertainty around sunsetting provisions should have professional athletes planning ahead on their taxes.

By Roger Russell
Senior Editor

October 29
AT Think In the blogs: Are we ready?

Foreign gifts and penalties; FBARs and the Constitution; contention and confusion; and other highlights from our favorite tax bloggers.

October 29

Jeff Stimpson
Tax breaks

How tax breaks brought a Chinese solar giant to Ohio

What looks like a domestic triumph is also a win for America's primary industrial and geopolitical rival.

By Bloomberg News

October 29
International taxes

U.S., Taiwan to talk on double taxation

Taiwan's firms see high U.S. taxes as a major impediment to additional investment in America.

By Bloomberg News

October 29
Income taxes

10M more 1040s by 2031

The number of taxpayers filing Forms 1040 and 1040-SR are projected to increase by about 10,000,000 over the next eight years.

By Editorial Staff

October 29
Donald Trump

Trump proposes tax credit for caregivers

It's the latest in a series of tax breaks announced by the Republican nominee with the election only about a week away.

By Michael Cohn
Editor-in-chief, AccountingToday.com

October 28
Tax relief

Alaska flood victims get tax relief

The IRS is pushing back filing and payment deadlines for those impacted in Juneau.

By Jeff Stimpson
Freelance writer

October 28

Resources

The latest Accounting Today research and discussion:

Web Seminar Tax season postmortem: What to fix for 2027

Join us for a transparent look at the challenges facing firms this year and how to overcome them for 2027.

Partner Insights from Canopy
On-Demand Web Seminar Rethinking busy season: A modern operating model for K-1s

Busy season is over—but the bruises are still fresh. Many firms expected smoother K-1 workflows, yet encountered the same familiar bottlenecks, last-minute delays, and staff burnout. Instead of tweaking around the edges, we'll explore a modern operating model for managing K-1s at scale – from intake through exchange – designed to reduce rework, cycle time, and eliminate seasonal chaos.

Partner Insights from K1X
Tariffs and your clients

Dean Peterson and Blair Robbins of Eisner Advisory Group discuss the tax and business ramifications of the Trump administration's tariff policies that accountants should be advising clients about.

Sponsored by Intuit Quickbooks

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.