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 credits

Tax Strategy: New clean energy prevailing wage and apprenticeship requirements

The Inflation Reduction Act introduced new requirements to receive larger credit amounts for many of the extended and new clean energy credit and deduction provisions.

By Mark A. Luscombe
Principal Federal Tax Analyst

December 29
IRS

IRS updates 1099-K FAQ

Fact Sheet 2022-41 now reflects the decision to move back the switch to a much lower reporting threshold.

By Daniel Hood
Editor-in-chief

December 28
Accounting

The top 15 stories of 2022

From firm splits and the entry of private equity into the field to ESG and the war for talent, these are the biggest developments in tax and accounting over the past 12 months.

By Daniel Hood
Editor-in-chief

December 28
Sales tax

2022 Sales Tax Nerd Award winner named

Nancy Wheeler of TaxOps won recognition for her passion for and commitment to the field of sales tax.

By Daniel Hood
Editor-in-chief

December 28
Tax returns

Trump's tax returns to be released by House on Friday

The former president's returns are being redacted to remove key identifying information, such as account numbers.

December 28
Retirement

Tax benefits for wealthy earners in SECURE 2.0

The package is aimed at boosting retirement security for most Americans, but several key provisions are useful for the affluent.

By Lynnley Browning
Managing Editor

December 27
AT Think In the blogs: Catching the omnibus

What did and didn't make it into the bill; Shopify and sales tax; why the IRS dawdled; and other highlights from our favorite tax bloggers.

December 27

Jeff Stimpson

Resources

The latest Accounting Today research and discussion:

Web Seminar From tax question to tax strategy: Turning everyday client conversations into advisory opportunities

This webinar demonstrates how firms can uncover planning opportunities hidden within everyday client conversations and transform routine compliance discussions into higher-value advisory engagements.

Partner Insights from Intuit
Web Seminar From returns to revenue: A tax planning framework for every firm

Most tax professionals are already sitting on planning opportunities, they just don't have a system to find them, package them, or get paid for them. This session walks through a simple, repeatable framework for turning completed returns into planning conversations, billable engagements, and stronger client relationships. Attendees leave with concrete next steps they can apply right away.

Partner Insights from Holistiplan
Report Progress under pressure: The 2026 post-tax season report

Leading firms share the tools, process changes, and strategies behind a better tax season experience.

Partner Insights from Rightworks

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.