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.

Tax deductions

Don’t hold your breath on expiring tax breaks

A host of provisions will expire at the end of the year, and there's no telling whether they'll be renewed, says Wolters Kluwer's Mark Luscombe.

By Roger Russell
Senior Editor

December 14
AT Think In the blogs: The year that will be

New forms’ questions; taxpayers behaving badly; why people leave; and other highlights from our favorite tax bloggers.

December 14

Jeff Stimpson
IRS

Filing relief available to Kentucky weather victims

The IRS has extended filing and payment deadlines for them until May 16.

By Jeff Stimpson
Freelance writer

December 14
IRS

IRS spotlights charitable tax benefit expiring Dec. 31

The pandemic-related tax provision permits more people to deduct donations to qualifying charities on their 2021 federal income tax return.

By Danielle Lee
Editor-in-Chief

December 14
AT Think ’Tis the season of giving, but are tax-exempt orgs prepared?

Five tips can help charities carry out effective fundraising programs.

December 14

Bettina Lipphardt

The Bonadio Group
Trusts

SLAT is tax ‘acronym du jour’ for the married and wealthy: What you need to know

Spousal lifetime access trusts are surging in popularity, but they aren’t as simple as some advisors or clients may think.

By Lynnley Browning
Managing Editor

December 14
Finance, investment and tax-related legislation

Clients confused over tax lawmaking

Tax pros share what aspects of the current tax legislation being considered in Congress brings the most questions from clients.

By Jeff Stimpson
Freelance writer

December 14

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.