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 regulations

New 1099-K threshold set to sow confusion

The reprieve at the beginning of 2023 was temporary — and nothing has been done to fix the long-term issue.

By Roger Russell
Senior Editor

July 25
AT Think How to face the IRS attacks on Malta pension plans

The crackdown on the potentially listed transactions could bring stiff penalties to both clients and tax advisors.

July 25

Tom Cullinan

Chamberlain Hrdlicka
Tax planning

$158M in payments to Epstein sparks Senate probe

The Senate Finance Committee is questioning whether the sum from Leon Black amounted to gifts for which the private equity leader owes taxes.

By David Voreacos

July 25
IRS

IRS ends unannounced visits to protect agents

The service is stopping most unannounced visits to taxpayers' residences and businesses after a rising number of threats has put its employees' safety at risk.

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

July 24
IRS

IRS offers FTC relief

A new notice offers relief for foreign taxes paid during tax years 2022 and 2023.

By Jeff Stimpson
Freelance writer

July 24
Sales tax

Regulating crypto: NFT sales taxes looming

Sales of non-fungible tokens are taking place across jurisdictions, both state and national, and tax authorities are starting to take notice.

By Chris Gaetano
Technology Editor

July 24
Accounting

Regulating crypto

Accountants are helping clients stay abreast of the latest accounting, tax and regulatory issues around cryptoassets.

By Chris Gaetano
Technology Editor

July 24

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.