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 In the blogs: Slight detours

The problem with some tax credits; a PPP forgiveness portal; crypto replies; and other highlights from our favorite tax bloggers.

August 3

Jeff Stimpson
AT Think Tax Strategy: Helping your clients with CTC advance payments

Changes to the Child Tax Credit may require a second look as the system gets simultaneously simpler and more complex.

August 3

Mark A. Luscombe

Wolters Kluwer Tax & Accounting
IRS

IRS updates: Restarting the income tax levy program, and more

NCCPAP’s Stephen Mankowski offers news about the IRS Office of Promoter investigations, Forms 940X and 941, and more.

By Roger Russell
Senior Editor

August 3
AT Think How domicile location can reduce state and local tax burdens

While tax residency rules vary from state to state, changing residency generally requires a concurrent determination of domicile.

August 3

Kyle Wissel

Mazars USA
Roth IRAs

This Roth IRA conversion trick can save investors big money

Using RMDs to pay the taxes due on a rollover can ease the psychological pain of forking over money to the IRS.

By Lynnley Browning
Managing Editor

August 3
Finance, investment and tax-related legislation

The winners and losers in the bipartisan infrastructure bill

A Senate plan to spend $550 billion on U.S. infrastructure stands to benefit industries heavily dependent on transportation.

By Laura Davison and Steven T. Dennis

August 3
Tax credits

Senate plans to end employee retention tax credit early

The bipartisan infrastructure bill would end a tax break Congress crafted to help businesses struggling during the pandemic but relatively few companies have claimed.

By Laura Davison
Capitol Hill tax reporter

August 3

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.