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 preparation

Many tax pros are undercharging clients: NATP

The NATP has released the latest edition of its annual fee study for practitioners.

By Jeff Stimpson
Freelance writer

September 8
IRS

New model W-2 language for sick and family leave wages

Guidance in Notice 2021-53 from the IRS will help employers with the ‘Instructions for Employee’ and other statements.

By Jeff Stimpson
Freelance writer

September 7
Tax

Did the TCJA reduce wealth inequality?

One measure in particular — home values — suggests it may have shifted some relative wealth down the income scale.

By Roger Russell
Senior Editor

September 7
M&A

Sovos buys 1099 Pro

This is the third acquisition Sovos has made this fiscal year.

By Ranica Arrowsmith
Technology Editor

September 7
AT Think In the blogs: Let’s be honest

Assessing the delays; myths about preparers;the numbers behind the season;and other highlights from our favorite tax bloggers.

September 7

Jeff Stimpson
IRS

COVID led to big backlogs, bad penalties for biz returns: TIGTA

Unprocessed paper-filed business returns jumped from 239,285 to 7.9 million.

By Daniel Hood
Editor-in-chief

September 7
Tax relief

Tax relief for disaster victims in California, Tennessee

The IRS is giving those affected by recent wildfires and floods extra time to file.

By Jeff Stimpson
Freelance writer

September 7

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.