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.

AT Think In the blogs: It don't come easy

Whether crypto tax legislation is coming; don't miss QSBS savings; Bears on the move; and other highlights from our favorite tax bloggers.

December 30

Jeff Stimpson
IRS

IRS updates Premium Tax Credit FAQs

Provisions from the OBBBA required new answers to questions about the Premium Tax Credit.

By Jeff Stimpson
Freelance writer

December 30
AT Think Help clients take advantage of new opportunity zone tax advantages

The updated framework under the OBBBA has created new opportunities for the sports and entertainment industries in rural areas and low-income urban areas.

December 30

Blake Christian

Holthouse Carlin & Van Trigt LLP
Tax season

Tax season ahead: Countdown to the kickoff

Major tax legislation, IRS staffing issues, and plenty of client confusion promise a challenging tax season.

By Antoinette Alexander

December 30
IRS

Standard business mileage rate to go up

According to IRS Notice 2026-10, however, some other mileage rates will go down.

By Jeff Stimpson
Freelance writer

December 29
Portfolio strategies

Why charity can be an heir's best option for tax-inefficient IRAs

Financial advisors and their clients have a range of options to consider for traditional IRA holdings — but also a finite deadline.

By Tobias Salinger
Chief Correspondent

December 29
IRS

IRS-CI helped catch Brown University killer

Agents with the Internal Revenue Service's Criminal Investigation unit reportedly helped track down the shooter who terrorized Brown University and MIT.

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

December 29

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.