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 Video, the busy season time saver

There’s nothing more valuable for successful people than saving time and having complex things simplified.

April 1

Kyle Walters

L&H CPAs and Advisors
Tax planning

Inside Biden’s last shot at salvaging his personal New Deal

Manchin doomed two pieces of the plan — ending a tax break for fossil fuels and taxing unrealized capital gains — just hours after Biden announced them.

By Erik Wasson and Laura Davison

April 1
AT Think Happy April 1 Day

Here is a peek into what can be expected in the near future.

April 1

Edward Mendlowitz

Withum
Tax-related court cases

Tax Fraud Blotter: Crook of all trades

Twenty and out; stop snapping; agent for change; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

March 31
IRS

Federal court vacates IRS notice on micro-captives

A district court has vacated IRS Notice 2016-66, which designated micro-captive insurance arrangements as “transactions of interest,” and thus reportable.

By Roger Russell
Senior Editor

March 31
Tax season

Filing season so far: Frustrating but predictable

Backlogs at the IRS and bearing bad news can be challenging, but it’s no more than preparers expected.

By Roger Russell
Senior Editor

March 31
IRS

IRS continues to audit poorest families more heavily

The service has been auditing the poorest wage earners more than higher-earning taxpayers, according to an updated report.

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

March 30

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
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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.