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.

Income taxes

Senate Democrats aim to close loopholes for billionaires

A group of Senate Democrats and independents introduced legislation Thursday to eliminate loopholes and tax breaks for billionaires.

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

November 30
Tax-related court cases

Tax Fraud Blotter: Don't touch

A dim bulb; morally bankrupt; 1st to jail; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

November 30
Make property tax a profit center: What firms need to know

With the right tools and resources in place, property tax advisory services can become a profit center for top firms. Read on to learn how.

Partner Insights from Avalara
Practice management

AuditClub rebrands as CPAClub

The company has added outsourced tax and advisory services for CPA firms as part of the renaming.

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

November 29
Tax credits

U.S. weighs reprieve for carmakers on EV credits

The Biden administration has discussed granting automakers a temporary reprieve from new rules poised to limit a consumer tax credit, a Michigan senator said Tuesday.

By Bloomberg News

November 29
Tax fraud

Tax Fraud Blotter: Numbers games

Sanctions list; getting out of the Market; why oh Y; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

November 28
AT Think In the blogs: Hidden costs

ERC red flags; moving to the cloud; security and the holidays; and other highlights from our favorite tax bloggers.

November 28

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.