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.

SPECIAL REPORT: 2021 Year-End Tax Planning

Planning Strategies and Techniques Available Through End of Year

Partner Insights from Wolters Kluwer
How to Budget and Plan with Data You Already Have

Let’s be honest; no-one (well, almost no-one) likes the budgeting and planning process. But what if there was a way to draw a direct line from daily activities and engagements to the accounting firm and client data you need when making annual budgeting and planning decisions?

Partner Insights from Wolters Kluwer
Biden Administration

Biden admits Build Back Better likely to be put off to 2022

In a statement, the president expressed confidence that the measure would eventually pass and urged patience as negotiations continue.

December 16
Biden Administration

Democrats drop year-end push on Biden plan amid discord

Action on the tax and spending bill has been punted to January.

December 16
Tax credits

Final advance CTC payments have begun, IRS says

Families will soon need to reconcile the money they received against what they can officially claim.

By Daniel Hood
Editor-in-chief

December 16
Tax-related court cases

Tax Fraud Blotter: ‘Romance fraud’

What becomes of the brokenhearted; steal thyself; inside job; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

December 16
Tax-related court cases

Billionaire Brockman may fight IRS for years, even with dementia

The biggest tax evasion case against an individual in U.S. history could drag on through a wide range of courts and strategies.

December 16

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.