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.

Retirement

8 key do's and don'ts for advisors and their clients as Tax Day approaches

From accidentally paying state taxes on T-bill income to wonky filing deadlines, these tips will help make a federal tax return sparkle. Or at least clean.

By Lynnley Browning
Managing Editor

April 12
Practice management

EY's failed split highlights challenges of partnership model

The Big Four firm's U.S. business will instead embark on a $500 million cost-saving program and focus on freeing up capital for investment.

April 12
Technology

Vendor Spotlight: Ledgible

In this week's Vendor Spotlight, we discuss cryptocurrency accounting with Kell Canty, CEO and co-founder of crypto tax and accounting platform Ledgible.

By Chris Gaetano
Technology Editor

April 12
AT Think In the blogs: Plan on it

The spending slice for honest taxpayers; crypto and filing goofs; God is your AI; and other highlights from our favorite tax bloggers.

April 11

Jeff Stimpson
IRS

IRS suggests some early filers amend their returns

Taxpayers who filed early this year and reported state tax refunds they received in 2022 as taxable income should consider filing an amended return.

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

April 11
Finance, investment and tax-related legislation

Inside the latest attempt to kill the estate tax

Senate Republicans have a new proposal to end the 'Death Tax.'

By Roger Russell
Senior Editor

April 11
Retirement

Cashing out 401(k) accounts: the new retirement crisis

Americans pay billions of dollars in taxes each year when draining their retirement plans as they change jobs. The "leakage" doesn't bode well for long-term savings, data shows.

By Lynnley Browning
Managing Editor

April 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.