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 season

H&R Block reports strong year, conditionally

Changes to tax deadlines during the pandemic required some 'normalizing' of the company's results.

By Jeff Stimpson
Freelance writer

August 11
Tax-related court cases

Tax Fraud Blotter: Vital cogs in fraud

Self abuse; sufferin' sovereigns; 1 more thing 2 do; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

August 11
IRS

Missouri weather victims get federal filing relief

The IRS is granting postponements to St. Louis and a number of nearby counties.

By Jeff Stimpson
Freelance writer

August 11
Finance, investment and tax-related legislation

Tax Strategy: Inside the Inflation Reduction Act legislation

With the House expected to take up the bill soon, here are its important details.

By Mark A. Luscombe
Principal Federal Tax Analyst

August 11
Corporate taxes

Summers decries tax compromises by Democrats to pass new bill

Former Treasury Secretary Lawrence Summers criticized the stripping of a global corporate minimum tax from the recent tax-and-climate change bill.

By Bloomberg News

August 11
Sales tax

State sales tax rates hit historic high

Many jurisdictions are increasing rates 'at an impressive clip,' according to the Vertex Mid-Year Report.

By Roger Russell
Senior Editor

August 11
IRS

IRS seeks SFOX customer information in cryptocurrency tax push

The summonses are part of a broader effort by U.S. lawmakers and regulators, including the SEC and the CFTC, to extend their oversight to crypto trading.

By Bob Van Voris
Reporter

August 11

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.