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.

401(k)

Backdoor Roths one step closer to demise; regular Roth conversions on 10-year leash for higher earners

With Senate tax writers in agreement with the House to ban the favored tax-free strategy, wealth advisors have a narrow window to make moves.

By Lynnley Browning
Managing Editor

December 15
Tax returns

Musk faces $10B tax bill as he spars with Warren

The Tesla founder's exercise of a huge number of stock options has put him on track for what may be the biggest tax payment of all time.

December 15
Tax returns

Judge dismisses Trump suit to block release of tax returns

The former president told the court he would be appealing the ruling.

December 15
Treasury Department

Treasury plans first analysis of tax benefits by race

The study will start by looking at coronavirus-related stimulus payments.

December 14
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

Resources

The latest Accounting Today research and discussion:

Web Seminar The psychology of a modern tax workflow: Reducing anxiety, decision fatigue & compliance risk

In this session you'll learn practical, firm-tested principles to reduce confusion, improve predictability, and strengthen both client and staff confidence.

Partner Insights from SmartVault
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

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.