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 credits

Treasury, IRS propose guidance on clean electricity tax credits

The proposed rules on the Clean Electricity Production Credit and the Clean Electricity Investment Credit aim to spur renewable energy development.

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

May 29
Tax forms

Expanded 401(k) eligibility is taking businesses by surprise

There's a new method of counting defined contribution retirement plan participants that can make a big difference for clients.

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

May 29
AT Think Move beyond the busy season mindset

There are advantages to an extended (but carefully scheduled) tax season.

May 29

Kyle Walters

L&H CPAs and Advisors
AT Think In the blogs: Something fishy

Debate over the Tax Cuts and Jobs Act; assessing last season; Etsy and sales tax; and other highlights from our favorite tax bloggers.

May 28

Jeff Stimpson
Investment strategies

Excluding capital gains of $10M — or more — from taxes with QSBS

Qualified small business stock carries major potential savings for startup founders and investors, but the benefits come with some important caveats to keep in mind.

By Tobias Salinger
Chief Correspondent

May 28
IRS

Application portal opens for bonus energy credit

The Internal Revenue Service is accepting applications for the Low-Income Communities Bonus Credit Program through June 27.

By Jeff Stimpson
Freelance writer

May 28
IRS

IRS update: Boosting alternative dispute resolution, and more

The decline in taxpayers taking advantage of the ADR process was a major topic at a recent IRS meeting.

By Roger Russell
Senior Editor

May 28

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.