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.

IRS

Trump tax leaker acted out of 'deep, moral belief,' judge told

The former IRS contractor who stole and leaked the tax returns of former President Trump and other billionaires believed Americans had a right to the information, his lawyers told a judge.

By David Voreacos

January 19
Corporate taxes

NYC seeks millions from Silicon Valley Bank for taxes

The city cites corporation business tax "deficiencies" for 2017 through 2021 and is also seeking interest and penalties from the failed bank.

By Robert Burnson

January 19
Tax-related court cases

Tax Fraud Blotter: Painful lessons

Shocking behavior; mother's day; Ferrari mad; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

January 18
IRS

Some tax-exempts won't be able to e-file until March

A limited number of tax-exempt organizations won't be able to electronically file their income tax returns until the middle of March due to technology upgrades.

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

January 18
Tax extenders

Affordable housing advocates praise tax extenders deal

Proponents of affordable housing are hearted by provisions related to the Low-Income Housing Tax Credit, saying they could result in financing over 20,000 homes.

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

January 18
HSAs

The HSA 'deathbed drawdown': Making tax-efficient distributions when there isn't much time

As tax-friendly as the rules are for HSA funds during an individual's lifetime, they can become much more punitive for funds left over after the original account owner dies.

By Ben Henry-Moreland
Senior Financial Planning Nerd

January 18
Growth Content

What they'll owe: Income tax brackets for 2024

The IRS reviews all income tax brackets annually, making adjustments as necessary to balance for inflation.

January 18

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.