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 named Linda Stiff as the replacement for outgoing Acting Commissioner Kevin M. Brown.

    July 29
  • Accounting firm Lovoy, Summerville & Shelton has acquired Granberry & Associates, allowing the firm to expand its client base beyond its home town of Birmingham to Granberry's turf in the Auburn-Opelika area of Alabama.

    July 29
  • The Internal Revenue Service has granted relief to some homeowners struggling to rebuild after Hurricane Katrina devastated the Gulf area in August 2005 so they can continue to qualify for a low-income housing credit.

    July 29
  • Following on the heels of his former boss, Internal Revenue Service Acting Commissioner Kevin M. Brown plans to leave the IRS in mid-September to become chief operating officer of the American Red Cross.

    July 26
  • Nearly 55,000 tax-exempt organizations owed close to $1 billion in unpaid payroll and other federal taxes as of last September, according to a report released by the Government Accountability Office.

    July 25
  • CCH has appointed Gene McGovern as vice president of tax and accounting publishing, replacing Catherine Wolfe, who was named U.K. CEO of the publisher's parent company, Wolters Kluwer, earlier this year.

    July 25
  • Remember the old days? Forms shipped off to service bureaus? Is it possible that manual data entry will seem as quaint within a few years?

    July 25
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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.