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 season

Smoother sailing for next tax season?

The IRS and preparers are preparing to navigate the filing season ahead.

By Roger Russell
Senior Editor

November 10
AT Think Tax Strategy: Guidance on the Clean and Used Clean Vehicle Credits

Proposed regulations from the IRS are generally effective beginning in 2024.

November 10

Mark A. Luscombe

Wolters Kluwer Tax & Accounting
Tax-related court cases

Tax Fraud Blotter: Urgent matters

Wire happy; defense rests; re-model behavior; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

November 9
Technology

Intuit rolls out bevy of new features

The accounting software giant announced a cavalcade of enhancements set for use in the upcoming tax season.

By Chris Gaetano
Technology Editor

November 9
IRS

IRS adjusts tax items for inflation in 2024

The service announced its annual inflation adjustments, including increases in the standard deduction and changes in tax brackets.

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

November 9
International taxes

Apple risks $14B tax bill in EU setback

The iPhone maker risks having to pay billions to Ireland after an advisor to the European Union's top court said its victory in an earlier challenge should be thrown out.

By Stephanie Bodoni
Reporter

November 9
International taxes

Trader loses last fight to kick out $1.8B U.K. tax fraud case

The U.K. Supreme Court rejected lawyers' claims that London isn't the proper place for the Danish tax agency to bring its claim.

By Bloomberg News

November 8

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.