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 relief

Idalia victims in Georgia get tax relief

The IRS is pushing back filing and payment deadlines for those impacted by the storm.

By Jeff Stimpson
Freelance writer

September 13
Tax rates

Inflation expected to drive up tax bracket limits in 2024

Inflation-adjusted amounts in the Tax Code are predicted to increase 5.4% in 2024, according to a new report from Bloomberg Tax.

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

September 13
IRS

IRS cracks down on illegal sports betting

The Internal Revenue Service's Criminal Investigation division is targeting illegal activity tied to sports betting as the pro football season gets underway.

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

September 13
AT Think In the blogs: Of significant interest

Future of contactless prep; reverse convenience; importance of the invoice; and other highlights from our favorite tax bloggers.

September 12

Jeff Stimpson
IRS

IRS clarifies new corporate alternative minimum tax

Notice 2023-64 offers guidance on the 15% levy on large businesses — and waives some penalties.

By Jeff Stimpson
Freelance writer

September 12
IRS

AI in IRS audits could be a game-changer, but comes with pitfalls

The service will need to tread carefully with how it uses artificial intelligence amid growing questions about the reliability of the technology.

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

September 11
Tax planning

Cetera acquires Avantax for $1.2B

The tax-focused financial planning and wealth management company that partners with accounting firms is going private and joining a larger financial firm.

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

September 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.