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.

Recommendations and Referrals: A Digital Twist on a Traditional Growth Strategy

Referrals are a traditional growth and marketing strategy for tax and accounting firms, but referrals today have a tech twist that firms should master

Partner Insights from Wolters Kluwer
4 Steps to Increasing Your Firm’s Cross-Selling Activities

Busy season is an ideal time to consider cross-selling, especially if your firm is considering expanding into client accounting services

Partner Insights from Wolters Kluwer
Best Practices For Tax Professionals Filing Tax Returns in 2022

We're now three weeks into the 2022 tax return filing season, and I'm often asked for filing best practices. More specifically, best practices for filing income tax returns and dealing with the IRS and state and local taxing authorities.

Partner Insights from Wolters Kluwer
Tax credits

Congress presses IRS on ERTC processing and tax penalty relief

Lawmakers are asking the Internal Revenue Service to expedite the processing of Employee Retention Tax Credits and not to penalize small businesses for incorrectly paying their estimated quarterly taxes as they await their claims.

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

March 18
Tax exemptions

Do these March Madness coaches make too much money?

Rep. Bill Pascrell is looking at coach compensation information to see if their large salaries run afoul of the schools’ tax-exempt status.

By Laura Davison
Capitol Hill tax reporter

March 18
AT Think Paying a nanny in Venmo? Pay attention to new tax-reporting rule

Your clients with household help — such as nannies, housekeepers and senior caregivers — may be paying their workers through a mobile app like Venmo or PayPal. It’s quick and easy, but thanks to a new tax-reporting rule, it may no longer be a good idea.

March 18

Guy Maddalone

GTM Payroll Services
IRS

IRS plans to improve taxpayer service with budget increase

Internal Revenue Service Commissioner Charles Rettig pledged to do more to improve taxpayer service after Congress approved a $675 million funding increase.

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

March 17

Resources

The latest Accounting Today research and discussion:

Web Seminar Tax Planning for 2027

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

Sponsored by 8am CPACharge
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

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.