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.

IRS

IRS adds more guidance on CTC payments

The service has updated the information on its FAQ page for the CTC and advance CTC payments.

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

January 12
Tax exemptions

Coaches’ pay spurs lawmaker’s demand for inquiry

A senior Democrat is expanding his inquiry into whether some college football coaches' compensation packages run afoul of laws for tax-exempt organizations.

By Laura Davison
Capitol Hill tax reporter

January 12
AT Think In the blogs: What a world

Accountants go meta; muddy start to the season; the controller as preparer; and other highlights from our favorite tax bloggers.

January 11

Jeff Stimpson
IRS

IRS adds new members to Advisory Council

The nine new representatives represent a wide range of stakeholder constituencies.

By Jeff Stimpson
Freelance writer

January 11
Financial planning

A grandparents’ guide to funding college

Understanding how gifted money will impact the student’s FASFA is critical.

By Roger Russell
Senior Editor

January 11
IRS

AICPA’s Melancon concerned about IRS bottlenecks

Barry Melancon is warning that the backlog at the service threatens to make this tax season a difficult one for tax professionals and their clients.

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

January 11
Income taxes

This tax season could be 'potentially worse' than last year's disaster, IRS watchdog warns

The National Taxpayer Advocate's annual report to Congress sounded alarm bells as millions gear up to file their federal returns.

By Lynnley Browning
Managing Editor

January 11

Resources

The latest Accounting Today research and discussion:

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
Report Progress under pressure: The 2026 post-tax season report

Leading firms share the tools, process changes, and strategies behind a better tax season experience.

Partner Insights from Rightworks

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.