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 planning

Illinois gov. says he'd veto Chicago financial transaction tax

Gov. Pritzker's comments follow months of speculation over how Chicago Mayor Brandon Johnson plans to raise revenue to tackle the city's embattled finances.

By Shruti Date Singh

October 16
IRS

How an IRS contractor leaked tax data on Trump, Bezos and Musk

The manner in which Charles Littlejohn pulled off one of the most egregious security breaches in IRS history was revealed in a court filing.

By David Voreacos

October 16
IRS

IRS offers tax relief to taxpayers affected by terror attack in Israel

The agency is responding to the unfolding crisis in the Middle East.

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

October 13
IRS

Guidance on R&D expensing helps, but more is needed

The IRS's interim guidance answers many questions but leaves others unaddressed, according to tax experts.

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

October 13
IRS

Tax return thief who took Trump data pleads guilty

A former IRS contractor admitted stealing information about the former president and thousands of wealthy Americans and leaking it to two news organizations.

By David Voreacos

October 13
Tax-related court cases

Tax Fraud Blotter: Closure

No temporary solution; cooking some books; French connection; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

October 12
IRS

IRS sees tax gap widen to $688B

The service updated its tax-gap projections for tax years 2020 and 2021, predicting a big jump from prior estimates.

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

October 12

Resources

The latest Accounting Today research and discussion:

Web Seminar The most important supply for tax firms isn't found on shelves

In this webinar, we'll show you how tax and accounting professionals are leveraging new technologies to make their firms more efficient and to stay ahead of competitors.

Partner Insights from Thomson Reuters
Web Seminar The psychology of a modern tax workflow: Reducing anxiety, decision fatigue & compliance risk

In this session you'll learn practical, firm-tested principles to reduce confusion, improve predictability, and strengthen both client and staff confidence.

Partner Insights from SmartVault
Web Seminar Tax Planning for 2027

This webinar will look at key opportunities and stumbling blocks for practitioners

Sponsored by 8am CPACharge

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.