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

Updated 1099-DA includes multiple changes

There's still room for improvement, say experts.

By Jeff Stimpson
Freelance writer

August 12
Tax breaks

Harris backs Trump's idea of ending taxes on tips

Vice president Kamala Harris said she would seek to end taxes on tipped income for service industry workers — matching a proposal Donald Trump has also made.

By Bloomberg News

August 12
Tax relief

Debby victims in Southeast get tax relief

The IRS has postponed payment and filing deadlines for those affected by the storm.

By Jeff Stimpson
Freelance writer

August 9
IRS

Connecticut joins IRS Direct File free tax prep system

The Treasury Department and the Internal Revenue Service said Friday that Connecticut will be the latest state to join the IRS Direct File program for free tax preparation.

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

August 9
Tax regulations

Federal tax update: A six-month look back

Everything you need to know about regs, judicial decisions, IRS pronouncements and more from the first half of 2024.

By Roger Russell
Senior Editor

August 9
Tax-related court cases

Tax Fraud Blotter: State of crisis

Fictitious relatives; countless meals; the road to Morocco; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

August 8
IRS

IRS processing more ERC claims, moves moratorium to Jan. 31, 2024

The Internal Revenue Service is paying out more claims for the Employee Retention Credit program even as it gives them greater scrutiny.

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

August 8

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.