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 planning

Biden battles for budget deal amid Democratic infighting

The administration struggles to unite Dems behind a bill that can pass in the face of united Republican opposition.

By Billy House
Reporter

September 23
Tax rates

White House decries low taxes for rich as Congress takes aim

The 400 wealthiest families slashed their income tax to an average rate of 8.2% from 2010-2018 because of preferential capital gains rates.

By Laura Davison
Capitol Hill tax reporter

September 23
IRS

New IRS site gives insight into Joint Committee cases

Certain high-value refunds and credits get sent to the JCT for review.

By Jeff Stimpson
Freelance writer

September 22
IRS

IRS signs three new collection agencies

The service also noted that it would always notify taxpayers that their accounts are going to collections.

By Jeff Stimpson
Freelance writer

September 22
Charitable deductions

AOC's 'Tax the Rich' dress could've used a different slogan

Paying guests at the Met Gala get to deduct much of the $35,000 ticket price, says Matthew Yglesias.

September 22
AT Think In the blogs: Long-standing questions

Tax rates since WWII; OZs and 5G; Intuit and Mailchimp; and other highlights from our favorite tax bloggers.

September 21

Jeff Stimpson
Tax planning

Tech millionaires fear their favorite tax break will be chopped

Qualified small business stock may lose a lot of its value if congressional proposals go through.

September 21

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.