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 forms

Congressional panel advances repeal of 1099-K threshold change

The Ways and Means Committee advanced five tax-related bills, including one that would eliminate a requirement to report payments of $600 from third-party networks.

By Michael Cohn
Editor-in-chief, AccountingToday.com

September 12
Tax relief

Tax relief for weather victims in Conn., New York

The IRS is pushing back payment and filing deadlines for taxpayers hit by August weather.

By Jeff Stimpson
Freelance writer

September 12
IRS

IRS and Treasury propose guidance on CAMT

The Internal Revenue Service and the Treasury issued proposed regs on the Corporate Alternative Minimum Tax.

By Michael Cohn
Editor-in-chief, AccountingToday.com

September 12
Apple

Windfall Apple tax payment 'exciting,' says Irish PM

The EU Court of Justice backed a 2016 decision that Ireland broke state-aid laws by giving the company tax benefits that resulted in an unfair advantage.

By Bloomberg News

September 12
Inflation

Tax inflation adjustments expected to shrink

Bloomberg Tax & Accounting projects that inflation-adjusted amounts in the Tax Code will increase 2.8% in 2025 — roughly half the increase in 2024 and down from 7.1% in 2023.

By Paige Hagy
Reporter

September 11
Tax planning

November's election is shaping up to be critical to tax planning

Whoever wins, '2025 is going to be a very interesting tax legislative year.'

By Roger Russell
Senior Editor

September 11
Corporate taxes

Presidential debate touches on taxes

The debate Tuesday night between Kamala Harris and Donald Trump included little discussion about taxes, but pointed to at least some of their economic policies.

By Michael Cohn
Editor-in-chief, AccountingToday.com

September 11

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.