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.

Growth Content

Where the money is: Top tax takes by state

See which 20 states grew their tax revenue the most last year.

July 12
International taxes

Truce on digital-tax extension sets up U.S. clash with Canada

The Biden administration secured an extension of a worldwide freeze on new digital taxes, putting it on a collision course with Canada after Ottawa refused to endorse the deal.

By Christopher Condon, William Horobin and Isabel Gottlieb

July 12
IRS

IRS probes Puerto Rico tax breaks

U.S. prosecutors and IRS agents are looking to build cases against individuals suspected of illegally taking advantage of breaks that lured crypto traders and fund managers.

By David Voreacos

July 12
IRS

IRS renews cybersecurity push for tax pros

The service and its Security Summit partners revived their summertime campaign to protect confidential client information against identity theft.

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

July 11
Cryptocurrency

Senate panel looks into changing tax treatment of crypto

Leaders of the Finance Committee are seeking input on how to adjust the rules for digital assets.

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

July 11
AT Think In the blogs: The jig is up

Next phases for the IRS; trust and bullies; tariffs' effects; and other highlights from our favorite tax bloggers.

July 11

Jeff Stimpson
Tax planning

Hightower invests in GMS Surgent

The wealth management firm has made a strategic investment in a tax and advisory firm.

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

July 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.