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.

Practice management

Tax season: Time to make your clients happy

Using these seven steps during the busy season will enhance your client experience and boost your revenue.

By Judy Bodenhamer and Katie Tolin

February 24
IRS

IRS boosts interest rates for Q2

The rate for both overpayments and underpayments will be 4%.

By Jeff Stimpson
Freelance writer

February 23
IRS

Lawmakers want to close ‘revolving door’ between big accounting firms and Treasury, IRS

Two legislators want to open an investigation into personnel moves between the five largest accounting firms and the upper echelons of the Treasury and IRS.

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

February 23
Accounting

CFOs see other risks this year besides COVID-19

CFOs rank supply chain disruptions, the talent shortage and tax reform as higher risks than COVID-19, according to a recent survey from BDO USA.

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

February 23
Tax crimes

Trump CFO says his refusal to ‘flip’ on boss led to N.Y. charges

Allen Weisselberg claims charges filed against him in New York are barred by his federal immunity deal in a separate case involving former President Trump’s payments to a porn star.

By Erik Larson and Chris Dolmetsch

February 23
Tax exemptions

Munis for pro-sports stadiums would lose tax exemption in House bill

A new bill would end the tax-exempt status for new sales of municipal bonds that finance professional sports stadiums.

By Danielle Moran
Journalist

February 23
AT Think In the blogs: Mind your FAQs

Public offers; a second soda tax mess; never fail to put off; and other highlights from our favorite tax bloggers.

February 22

Jeff Stimpson

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.