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 integrated its CertiTax software and Sales Tax Load Utilities with Microsoft Dynamics GP 10.0.The company's CertiTax Plug-in for Dynamics GP 10.0 provides an interface from CertiTax, CCH's hosted sales tax calculation system, to the Dynamics GP 10.0 sales order process module.

    July 15
  • Senate Finance Committee Chairman Max Baucus, (D-Mont.), and fellow committee member Chuck Grassley, (R-Iowa), are calling on the Internal Revenue Service to do a better job of publicizing the Saver's Credit to encourage more low-to-middle-income workers to save money for retirement.The credit applies to up to 50 percent of the first $2,000 of retirement contributions for families earning up to $50,000 a year. First created in 2001, the credit became permanent in the Pension Protection Act of 2006.

    July 15
  • The Internal Revenue Service said it would add three more excise tax forms to the lineup of federal tax return forms and schedules that taxpayers can file electronically.The first form that will be available for e-filing is the 2290, Heavy Highway Vehicle Use Tax Return, debuting this summer. Form 720, Quarterly Federal Excise Tax Return, and Form 8849, Claim for Refund of Excise Taxes, will premiere later this year.

    July 12
  • The IRS said it is reconsidering some of the private letter rulings its associate chief counsel’s office has issued regarding the gift tax consequences of trusts that employ distribution committees.The IRS’s chief counsel has discovered that some of the conclusions in the rulings may disagree with some prior revenue rules.

    July 11
  • Intentional disregard of the law is the primary contributor to the tax collection gap experienced by the IRS, according to nearly half the CPAs surveyed in an online poll by the AICPA.

    July 10
  • CCH said it will begin reselling tax exemption certificate management software and services from Imaging Science and Services Inc. on an exclusive basis worldwide.The products automate the organization of sales tax exemption and resale certificates. They include TeamsExpress on Demand, a hosted system for managing a database of tax documents, and LineLinkXL, a Microsoft Excel add-in.

    July 10
  • Thomson Tax & Accounting released Version 8.0 of its ePropertyTax software, adding extra edit, query and data entry features to the Web-based system for commercial property taxpayers.The upgrade expands the mass-editing tool to help users copy, paste, import and export data throughout the system. Users can now customize queries in any data field to search for information.

    July 10
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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.