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 relief

Ohio tornado victims get filing relief

The IRS is postponing tax and filing deadlines for storm victims.

By Jeff Stimpson
Freelance writer

May 22
AT Think In the blogs: Speculation rules

IRS errors; hiring your kids; investment fund audits; and other highlights from our favorite tax bloggers.

May 21

Jeff Stimpson
Investment strategies

5 tax strategies that pay off in real estate and homeownership

Changes in residency, qualified personal residence trusts and other methods cited by experts carry big savings — with some caveats.

By Tobias Salinger
Chief Correspondent

May 20
Donald Trump

With Trump in court, former advisors are quietly drafting his economic and tax policy

These competing factions of outside advisors are offering sometimes conflicting plans on tariff hikes, China, health care and taxes.

By Bloomberg News

May 20
Financial planning

The 20 most financially savvy states

The top state in the ranking received a total score for financial literacy of 72.46 out of 100.

By Editorial Staff

May 20
Tax regulations

Getting ready for new digital asset reporting regs

Insights into the IRS's progress on the Form 1099-DA and forthcoming regs on crypto asset reporting.

By Roger Russell
Senior Editor

May 17
Treasury Department

Two contenders jockey to run Trump's Treasury

One man, in the eyes of Donald Trump, is a "money machine." The other is a guy named "Scott."

By Katherine Burton

May 17

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.