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 credits

Treasury announces states' housing credit carryovers

The carryovers range from some $2.4 million in California and some $1.9 million in Texas to $44,851 in Alaska and $39,297 in Vermont.

By Jeff Stimpson
Freelance writer

December 22
Tax planning

House plan sets tax harbor for stablecoins, crypto staking

The draft, a mix of bill text and policy aims, would exempt transactions of regulated stablecoins that consistently maintain a value between $0.99 and $1.01 from capital gains.

December 22
AT Think From CPA to financial chief of staff

What's behind the power of integrating taxes, investments and strategy for business owner clients?

December 22

Jim Capparelli

JCJ Wealth and Tax Advisory LLC
Tax fraud

Ex-bankers convicted over €45M in tax fraud deals

Two former bankers were convicted in Germany over Cum-Ex deals by Fortis Bank that caused €45 million ($52.7 million) of damage to the country's taxpayers.

December 19
Tax code

Lawyer sues IRS to recognize pets as dependents

Amanda Reynolds filed a complaint asking the court to determine whether pets can be recognized as non-humans dependents.

By Paige Hagy
Reporter

December 19
Technology

Networth2B launches billing solution

Networth2B, a small business accounting solutions provider specializing in local apps that stay on the user's device, announced the addition of new billing features for professional services providers.

By Chris Gaetano
Technology Editor

December 19
AT Think Tax professionals face broad challenges through 2026

Tax work has always required patience, judgment and a steady hand. What is different today is the speed of change and the pressure that comes with it.

December 19

Mark Friedlich

Resources

The latest Accounting Today research and discussion:

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
How Advisory Services Create a Competitive Edge

Design advisory services that drive growth

Partner Insights from Wolters Kluwer

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.