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-related court cases

Tax Fraud Blotter: In the gutter

Host of problems; comp it; plan to fail; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

August 15
Tax credits

America's hydrogen-fueled future stalls over tax credits

Two years after a landmark climate law promised to kick-start green hydrogen production with tax credits, companies still don't know who will qualify.

August 15
IRS

IRS urges pre-filing registration for elective pay

Organizations looking to claim elective pay for 2023 projects should complete the process in advance, the agency recommends.

By Jeff Stimpson
Freelance writer

August 15
Technology

Xero enhances bank recs, compliance, payments

Diya Jolly, Xero's chief product and technology officer, announced several new products and enhancements for bank reconciliations, payments, compliance and more.

By Chris Gaetano
Technology Editor

August 14
Sales tax

City and local sales taxes spike

A new study reveals increases in both local and new tax rates across the country, highlighting an urgent need for revenue at the municipal level.

By Roger Russell
Senior Editor

August 14
Tax relief

Post-Debby tax relief expands to all Vermont

Everyone in the state who was affected by the storm now has until Feb. 3 to file and pay.

By Jeff Stimpson
Freelance writer

August 14
IRS

IRS updates information security plan for tax pros

A new template for a 'Written Information Security Plan' is available for practitioners to meet their mandate.

By Jeff Stimpson
Freelance writer

August 13

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.