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.

AT Think Tax Strategy: 2024 year-end tax planning

2024 has so far not produced significant tax legislation impacting year-end tax planning, but it continues to be impacted by legislation from prior years,

September 26

Mark A. Luscombe

Wolters Kluwer Tax & Accounting
AT Think In the blogs: Thought, politics, repeat

Relative accuracy; biggest cyberthreats; end-of-year meetings; and other highlights from our favorite tax bloggers.

September 24

Jeff Stimpson
Election 2024

Trump's tax break wishlist reaches $11 trillion

If elected, Trump would go into negotiations with Congress regarding a set of tax proposals totaling $11 trillion and counting, according to the Tax Foundation.

September 24
Sales tax

Sales tax holidays: Boon or bust?

They're great for customers, but these annual events are not necessarily great for retailers.

By Roger Russell
Senior Editor

September 24
Tax relief

Debby victims in Pennsylvania get tax relief

The Internal Revenue Service is postponing filing and payment deadlines for those impacted by the tropical storm.

By Jeff Stimpson
Freelance writer

September 24
Tax regulations

The clock is ticking on voluntary ERC disclosures

The IRS is reminding tax pros and employers that the window for voluntarily disclosing incorrect ERC claims is Nov. 22.

By Jeff Stimpson
Freelance writer

September 23
Tax planning

Trump, Harris to turbocharge economic pitches at dueling events

Kamala Harris will deliver a speech "to outline my vision for the economy." Donald Trump, meanwhile, is set to offer remarks in swing-state Georgia on a plan to lower taxes for U.S. business owners.

By Jennifer Epstein and Josh Wingrove

September 23

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.