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 scams

Tax trading scam made my life a 'shambles,' asset manager says

Henry Gabay, founder of the now-defunct Duet Group, told a German court that he's innocent and that the Cum-Ex charges against him are built on lies.

By Karin Matussek
Reporter

August 21
Tax preparation

H&R Block reports 'strong' fiscal year, raises dividends

The tax preparation giant grew its total revenue to $3.5 billion, or 0.3%.

By Jeff Stimpson
Freelance writer

August 18
Technology

Tax workpapers are key, but automation lags

A recent survey found workpapers are vital in supporting the overall tax cycle, but professionals struggle with lack of modern solutions.

By Chris Gaetano
Technology Editor

August 18
IRS

Deadline for truckers' Form 2290 approaching

Heavy Highway Vehicle Use Tax Returns are due Aug. 31, the IRS warns.

By Jeff Stimpson
Freelance writer

August 18
IRS

Mets owner fights $10M tax bill to derail IRS plan

Billionaire Steve Cohen is fighting the Internal Revenue Service's goal of having hundreds of money managers pay self-employment taxes.

August 18
Technology

Tech News: OpenEnvoy promises perfect data extraction

Plus, Boast AI unveils universal data ingestion feature; and other news and updates from the accounting technology arena.

By Chris Gaetano
Technology Editor

August 18
Tax preparers

Tax pros hike fees by more than 20%: NATP

The association's biannual fee study also points to an industry shortage of professionals.

By Roger Russell
Senior Editor

August 17

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.