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.

Finance, investment and tax-related legislation

Bipartisan $78B tax deal hits GOP roadblock in Senate

Senate Republicans don't want to hand President Joe Biden an election-year victory on the legislation, which includes both child and business tax breaks, lawmakers and aides have said.

April 4
Tax-related court cases

Tax Fraud Blotter: What a relief

Chief culprit; tag, you're it; trust them not; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

April 4
IRS

Maine, Rhode Island storm victims get tax relief

Filing and payment deadlines for taxpayers in designated areas have been pushed back.

By Jeff Stimpson
Freelance writer

April 4
AT Think Navigate the IRS audit storm: Essential extension strategies for partnerships

With tax authorities scrutinizing partnerships, CPAs and tax pros need to think more strategically about filing for extensions.

April 4

Tom Wheelwright

WealthAbility
International taxes

Thomson Reuters girds for global tax reform

Thomson Reuters recently closed its $800 million acquisition of Pagero, a Swedish e-invoicing company, placing a big bet on the future of electronic invoicing amid wider changes in international tax and accounting.

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

April 3
Tax relief

Federal tax relief extended for Hawaii

The Internal Revenue Service has granted extended filing and payment deadlines for wildfire victims in the state.

By Jeff Stimpson
Freelance writer

April 3
AT Think In the blogs: The rubber and the road

Off and Bozo-ing; the 100% tariff; Johnston on hot trends; and other highlights from our favorite tax bloggers.

April 2

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.