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 Tax Strategy: 2025 tax planning after OBBBA

Congress did not simply extend the Tax Cuts and Jobs Act provisions starting in 2026 with the One Big Beautiful Bill Act; it also modified some of those provisions effective in 2025.

September 23

Mark A. Luscombe

Wolters Kluwer Tax & Accounting
Regulation and compliance

Northwestern Mutual $23M tax suit reflects changes in meal write-offs

The new tax law won't completely eliminate the complicated tax incentives for food on the job, but experts suggest businesses may change up their menus.

By Tobias Salinger
Chief Correspondent

September 22
Tax regulations

Treasury's no-tax-on-tips proposal excludes 'illegal activity'

The Treasury Department released its proposal regarding tax relief on tips, one of Donald Trump's key promises in the 2024 campaign, including new prohibitions.

By Bloomberg News

September 19
Tax regulations

Treasury rolls out guidance on no tax on tips

The proposed regulations on the "no tax on tips" provision of the One Big Beautiful Bill Act outline which jobs and tips would be eligible.

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

September 19
Tax-related court cases

Tax Fraud Blotter: One slice with everything

Reality bites; can buy you love; community mistrust; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

September 18
Income taxes

Lawmakers advance tax legislation for billionaires, IRS, Tax Court

Senate and House Democrats proposed a bill to ensure billionaires pay a "fair share" of taxes, without actually raising their tax rate under current law, while Republicans advanced legislation pertaining to the IRS and the U.S. Tax Court.

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

September 18
Technology

Instead to offer free tax prep and filing

Tax management platform Instead is planning to offer completely free tax return preparation and filing for Forms 1040, 1041, 1120, 1120-S and 1065.

By Chris Gaetano
Technology Editor

September 18

Resources

The latest Accounting Today research and discussion:

Web Seminar Rethinking busy season: A modern operating model for K-1s

Busy season is over—but the bruises are still fresh. Many firms expected smoother K-1 workflows, yet encountered the same familiar bottlenecks, last-minute delays, and staff burnout. Instead of tweaking around the edges, we'll explore a modern operating model for managing K-1s at scale – from intake through exchange – designed to reduce rework, cycle time, and eliminate seasonal chaos.

Partner Insights from K1X
Tariffs and your clients

Dean Peterson and Blair Robbins of Eisner Advisory Group discuss the tax and business ramifications of the Trump administration's tariff policies that accountants should be advising clients about.

Sponsored by Intuit Quickbooks
How Advisory Services Create a Competitive Edge

Design advisory services that drive growth

Partner Insights from Wolters Kluwer

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.