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 evasion

Hunter Biden pleads not guilty to tax charges in California

Hunter Biden may face trial this summer in the middle of his father's election campaign after pleading not guilty to charges that he failed to pay taxes on millions of dollars in income from foreign businesses.

By David Voreacos

January 12
IRS

IRS delivers on greater scrutiny for the wealthy

The service reported on its increased enforcement efforts on Friday, including collecting over half a billion dollars from millionaires who didn't pay their taxes.

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

January 12
Tax-related court cases

Tax Fraud Blotter: Good people

Not so amusing; in the rough; interior designs; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

January 11
IRS

IRS to begin accepting business tax returns next week

The official start date of tax season for individual taxpayers will be on Jan. 29, but the Internal Revenue Service plans to accept business tax returns as soon as Jan. 16.

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

January 11
Tax exemptions

Harvard, MIT tax status probed by Congress over antisemitism

The failure of the leaders of the Ivy League universities to condemn antisemitism could affect their tax-exempt status, the chairman of the House Ways and Means Committee said.

By Bloomberg News

January 11
Tax extenders

Congress nears deal on $70B tax break for businesses, children

Negotiators are nearing a bipartisan deal in time for many voters to receive the benefits during the current election year.

By Erik Wasson
Capitol Hill reporter

January 11
Growth Content

20 states that burden individuals the least

The seven states that impose the least on residents have an individual income tax burden of 0.00%.

January 11

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.