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 research

'Survivor' Winner Pleads Not Guilty

Richard Hatch, who won $1 million on the first season of the CBS reality show "Survivor," pleaded not guilty to charges that he failed to pay taxes on his winnings and other income. He was released on a $50,000 bond.

September 20
Tax practice

Oxley, Baker Could Direct Housing to Katrina Survivors

In response to the housing crisis as a result of Hurricane Katrina, House Financial Services chairman Michael G. Oxley, R-Ohio, and Rep. Richard Baker, R-La., said they would adjust an affordable housing fund, currently in pending legislation, in order to meet housing needs of Katrina survivors.

September 20
Tax practice

Congress Passes Katrina Tax Cuts

Both the House and Senate passed nearly $5 billion in tax cut bills, aimed at helping victims of Hurricane Katrina and the people who provide them shelter.

September 18
Tax practice

GAO Gives Overview of Tax Reform Debate

The Government Accountability Office released a comprehensive overview of the tax reform debate.

September 18
Audit

KPMG Announces New Tax Services Heads

Moving on from its recent legal troubles, KPMG named vice chairs for its tax services and tax services operations.

September 12
Audit

GAO: Taxpayers Not Using Education Breaks

Although Congress has authorized tens of billions of dollars in tax breaks to help American families cope with rising college costs, millions of taxpayers are failing to cash in on this government assistance.

September 11
Audit

IRS Announces Trio of Relief Efforts

The Internal Revenue Service said victims of Hurricane Katrina will have until Jan. 3, 2006 to file any returns, pay any taxes, or make any deposits due -- extending an earlier announced reprieve.

September 11

Resources

The latest Accounting Today research and discussion:

Web Seminar The most important supply for tax firms isn't found on shelves

In this webinar, we'll show you how tax and accounting professionals are leveraging new technologies to make their firms more efficient and to stay ahead of competitors.

Partner Insights from Thomson Reuters
On-Demand Web Seminar The psychology of a modern tax workflow: Reducing anxiety, decision fatigue & compliance risk

In this session you'll learn practical, firm-tested principles to reduce confusion, improve predictability, and strengthen both client and staff confidence.

Partner Insights from SmartVault
On-Demand Web Seminar Tax Planning for 2027

This webinar will look at key opportunities and stumbling blocks for practitioners

Sponsored by 8am CPACharge

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.