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.

  • Retailers and other businesses that sell prepaid phone cards for long-distance service can usually qualify for the telephone tax refund, according to the Internal Revenue Service.

    March 21
  • In an effort to assist taxpayers who pay their taxes owed with a credit card, H&R Block Inc. has teamed with payment processing company Link2Gov to lower the convenience fee to 1.99 percent, from 2.49 percent.

    March 20
  • Everyone has a story of the email they accidentally sent to the wrong recipient, or the computer that crashed and lost an entire day’s worth of work.The disaster recovery industry has proven to be a lucrative one in the age of information, and recent snafus at the Alaska Department of Revenue and the Canada Revenue Agency only serve to underscore that problems can happen -- and illustrate the different ways in which an organization can be prepared for the worst-case scenario.

    March 20
  • Although I have been in professional publishing and writing for tax practitioners for over 30 years, a good Internal Revenue Service letter ruling or a Tax Court decision still excites me. This is especially true when they are taxpayer victories that tax practitioners can use to benefit clients that are similarly situated.

    March 19
  • Financial services conglomerate JPMorgan is expanding JPMorgan E-Tax — its Internet-based tax service providing institutional investors with global tax intelligence, rates and breaking news.

    March 19
  • In spite of legal woes over its refund anticipation loan program, tax preparation services giant H&R Block recently announced that it had passed the 1 million mark with its tax refund card - a figure that it said could reach 3 million by the close of tax season.Block's Emerald MasterCard, a prepaid debit card issued through the company's H&R Block Bank, is issued to customers who are expecting a tax refund. Rather than waiting for refund checks or arranging for direct deposits of a refund to a bank account, taxpayers can acquire the card when the tax return is prepared.

    March 18
  • Backed by a 20-year resume in claims experience, Redwood City, Calif.-based Camico Mutual Insurance Co. has identified the areas and sources of frequent tax claims lodged against CPAs.With tax season in full swing, here are some of the fruits of the company's experience with practitioner claims - and things to watch for as you wade through all those 1040s.

    March 18
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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.