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

Tax pros: The IRS may be calling you

The service is conducting a random survey of practitioners Nov. 27-Jan. 19.

By Jeff Stimpson
Freelance writer

November 24
Property taxes

The 20 worst states to be a property owner

The five states with the highest real-estate taxes have an average rate of 2.17%.

November 22
AT Think In the blogs: All that looms

Bumping the 1099-Ks; nonsensical language; showing your appreciation; and other highlights from our favorite tax bloggers.

November 21

Jeff Stimpson
Practice and client management

Planning for next year's tax brackets after the tweaks for inflation

The annual IRS announcement could affect certain clients seeking to avoid bumping up against higher rates when they file their federal income taxes.

By Tobias Salinger
Chief Correspondent

November 21
IRS

IRS's crypto regs threaten an undue burden

Among other things, they may unintentionally snare mutual funds, an expert testifies.

By Roger Russell
Senior Editor

November 21
IRS

IRS delays $600 1099-K threshold for another year

The service will postpone the lower threshold, but will phase in a threshold of $5,000 for tax year 2024.

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

November 21
IRS

The returns you'll be filing more (and less) of in 2023

Five types of return are projected to increase in volume by more than 45% in FY 2023.

November 21

Resources

The latest Accounting Today research and discussion:

Case Study A blueprint for a smoother, more automated tax workflow

For tax leaders: a real-world blueprint to streamline workflows and improve client experience.

Partner Insights from Thomson Reuters
White Paper Find and fix tax workflow gaps to save time and reduce rework

For tax professionals: a 3-step guide to spot workflow gaps and streamline your tax tech stack.

Partner Insights from Thomson Reuters
White Paper Start making next busy season easier, now

Built for tax teams: a practical post-season plan to reduce churn, fix bottlenecks, and prep for next busy season.

Partner Insights from Thomson Reuters

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.