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: Room for improvement

What’s wrong with the IRS?; lessons from court; a new blog; and other highlights from our favorite tax bloggers.

December 21

Jeff Stimpson
Tax planning

Tax moves are still possible with Build Back Better delay

Uncertainty in Washington doesn't mean tax professionals can't offer clients guidance.

By Roger Russell
Senior Editor

December 21
Finance, investment and tax-related legislation

Where will Dems cut their wish list to satisfy Manchin?

Handicapping which tax credits and other provisions will stay in the Build Back Better package.

December 21
Tax

Musk says he'll pay over $11B in taxes this year

That would be the largest individual payment to the IRS ever.

December 21
Tax-related court cases

UBS appeals $2B tax penalty at French Supreme Court

The bank has already won a significant reduction of its previous penalties.

December 21
Capital gains taxes

'Personal finance secret': Donating stock is more lucrative than giving cash

The ability to deduct the full value of the stock and avoid capital gains taxes is lesser-known by rich investors and many advisors.

By Lynnley Browning
Managing Editor

December 21
Tax preparation

Tax planning is worth 5 times tax prep

A survey from Intuit Accountants indicates that tax-related planning and advisory services bring in much more than compliance services.

By Daniel Hood
Editor-in-chief

December 21

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.