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.

IRS

IRS offers guidance on overtime deduction ahead of tax season

The Internal Revenue Service and the Treasury released a set of questions and answers on the new deduction for overtime pay under the One Big Beautiful Bill Act.

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

January 23
Technology

Tech news: Canopy adds AI tax prep features via integration with Filed

Plus, Schneider Downs Digital launches AI finance companion; Ramp introduces live budget tracking; and other accounting tech updates.

By Chris Gaetano
Technology Editor

January 23
Tax planning

A dozen 2026 tax-planning moves to help your business owner clients

The OBBBA reshaped several baseline assumptions for 2026 planning around state and local tax, above-the-line deductions and updated inflation adjustments.

By Blake Christian and Malachi Trujillo

January 23
Tax-related court cases

Tax Fraud Blotter: Prophet motive

Credits galore; boost boast; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

January 22
Accounting

Tennessee CPAs lobby lawmakers

The Tennessee Society of CPAs organized an annual visit to the state capital in Nashville to visit legislators and call on them to make changes in state laws.

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

January 22
Tax practice

NATP debuts tax pro credential program

The National Association of Tax Professionals unveiled two new credentials focusing on representation, due diligence and ethical practice.

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

January 22
IRS

IRS revises safe harbor, RMD explanations for retirement plan administrators

Notice 2026-13 provides safe harbor explanations that may be used by plan administrators for explaining eligible rollover distributions.

By Jeff Stimpson
Freelance writer

January 21

Resources

The latest Accounting Today research and discussion:

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
How Advisory Services Create a Competitive Edge

Design advisory services that drive growth

Partner Insights from Wolters Kluwer

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.