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

Biden to urge 25% billionaire tax

The president is proposing a series of tax increases on billionaires, rich investors and corporations.

By Laura Davison
Capitol Hill tax reporter

March 9
AT Think In the blogs: Open FBAR

The changing CPA exam; evils of voicemail; CHIPS may fall; and other highlights from our favorite tax bloggers.

March 7

Jeff Stimpson
Corporate taxes

Stripe faces $3.5B tax bill

One of the world's most valuable startups plans to use money from its latest round of fundraising to help cover a roughly $3.5 billion tax bill.

By Jenny Surane and Gillian Tan

March 7
Tax planning

Biden eyes tax hike on income over $400K to fund Medicare

His plan has little chance of becoming law, but the proposal is an important signpost for negotiations over government spending.

By Justin Sink and Josh Wingrove

March 7
Technology

3 challenges tech will solve for your firm in 2023

While there's a whole laundry list of bookkeeping bottlenecks that automation can alleviate, these solutions will have the biggest impact.

By Jason Richelson
CEO

March 7
Tax season

Tax season so far: ERC abuses and new frauds

A look at how filing season is going, five weeks in.

By Roger Russell
Senior Editor

March 7
Tax refunds

Who gets the biggest refunds?

The top five states in our ranking had an average individual income tax refund of $1,742.80 in 2021.

March 7

Resources

The latest Accounting Today research and discussion:

Case Study A blueprint for a smoother, more automated tax workflow

For tax leaders: a real-world blueprint to streamline workflows and improve client experience.

Partner Insights from Thomson Reuters
White Paper Find and fix tax workflow gaps to save time and reduce rework

For tax professionals: a 3-step guide to spot workflow gaps and streamline your tax tech stack.

Partner Insights from Thomson Reuters
White Paper Start making next busy season easier, now

Built for tax teams: a practical post-season plan to reduce churn, fix bottlenecks, and prep for next busy season.

Partner Insights from Thomson Reuters

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.