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.

AT Think In the blogs: Sense of discomfort

Remembering a reform expert; more suggestions for IRS improvement; fluffy nonsense; and other highlights from our favorite tax bloggers.

September 20

Jeff Stimpson
Tax planning

A $2 trillion fraud with employee retention credits puts financial advisors on edge

ERC "mills" have come out of the woodwork to lure small business owners into taking a lucrative tax credit they don't qualify for. Here's what advisors need to know.

By Lynnley Browning
Managing Editor

September 20
IRS

Federal contractors with tax debts still scoring big contracts

A system that Congress mandated allowing federal contractors to self-certify they don't owe a significant amount of taxes is enabling many of them to score lucrative contracts while still owing plenty.

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

September 19
Technology

Ryan buys Thomson Reuters product lines

The tax services firm announced the purchase of OneSource Property Tax and OneSource Transfer Pricing.

By Chris Gaetano
Technology Editor

September 19
State tax revenues

California sees warning sign from weak tax revenue collections

California drew in 11% less in personal income tax revenue than it expected so far this year.

By Amanda Albright
Reporter

September 19
Tax breaks

Patagonia billionaire who gave up company skirts $700M tax hit

Yvon Chouinard described his decision to give away the outdoor apparel-maker as his last-ditch effort to do all he could to protect the planet, but the deal is structured in ways that bring his family tax perks.

By Devon Pendleton and Ben Steverman

September 16
AT Think Inflation Reduction Act significantly changes 179D building deduction

The Act provides higher deductions for meeting prevailing wage and apprenticeship requirements.

September 16

Alexander Bagne

ICS Tax LLC

Resources

The latest Accounting Today research and discussion:

Web Seminar The most important supply for tax firms isn't found on shelves

In this webinar, we'll show you how tax and accounting professionals are leveraging new technologies to make their firms more efficient and to stay ahead of competitors.

Partner Insights from Thomson Reuters
Web Seminar The psychology of a modern tax workflow: Reducing anxiety, decision fatigue & compliance risk

In this session you'll learn practical, firm-tested principles to reduce confusion, improve predictability, and strengthen both client and staff confidence.

Partner Insights from SmartVault
On-Demand Web Seminar Tax Planning for 2027

This webinar will look at key opportunities and stumbling blocks for practitioners

Sponsored by 8am CPACharge

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.