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.

Joe Biden

Biden mocks Trump Media share drop in broadside over tax plan

Biden's comments, timed to follow Tax Day, sought to highlight differences between his tax and economic agenda and Trump's.

By Skylar Woodhouse and Justin Sink

April 17
International taxes

Hedge fund founder on trial in £1.4B tax scam

Cum-Ex was a tax-driven trading strategy in which bankers, lawyers and others exploited dividend payout laws across Europe to reap duplicate tax refunds.

By Bloomberg News

April 17
Uber

Uber raided in tax probe of Portuguese partners

Food delivery fleets allegedly used false invoices that didn't match the services they provided.

By Bloomberg News

April 17
Treasury Department

Treasury cash balance hits 2-year high as tax payments rise

Payments poured in at the government's mid-April deadline for income taxes.

By Bloomberg News

April 17
IRS

IRS extends RMD relief to 2024

The Internal Revenue Service is extending tax relief on required minimum distributions from inherited retirement accounts not made in 2024 after providing similar relief in recent years.

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

April 16
IRS

IRS chief defends budget as tax season concludes

Internal Revenue Service commissioner Danny Werfel testified at a hearing of the Senate Finance Committee to discuss this past tax season and the proposed budget for carrying out the agency's future plans.

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

April 16
AT Think In the blogs: Getting things done

Clock ticks on 2020 returns; remembrances; what's ahead for marketing tech; and other highlights from our favorite tax bloggers.

April 16

Jeff Stimpson

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.