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.

Income taxes

For Ballmer, joining the $100B club comes with tax scrutiny

The former Microsoft CEO was cited in a ProPublica story that showed how billionaires use ownership of sports teams to lower their tax obligation.

By Bloomberg News

July 8
AT Think A turn for the worse in IRS treatment of the R&D credit

The IRS needs to clarify that service firms qualify for the credits, writes Julio Gonzalez.

July 8

Julio Gonzalez

Engineered Tax Services
Tax credits

IRS plans weekend events to help families with Child Tax Credits

The Internal Revenue Service is planning to host events this weekend in a dozen cities to help people who usually don’t file a tax return register for monthly Advance Child Tax Credit payments.

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

July 7
AT Think Prepping for tax season 2022

Is tax season ever really over? Here's what you need to be ready for next year.

July 7

Nicole Fluty

AbacusNext
AT Think How the increase in capital gains taxes can affect your client’s business

The recent change in presidency is set to bring about substantial changes in the way high-net worth individuals are taxed in relation to capital gains.

July 7

Michelle Seiler Tucker

Seiler Tucker Inc.
Tax fraud

Billionaire deemed competent for trial in record tax-fraud case

Three court-appointed experts determined that billionaire Robert Brockman is competent to stand trial in the largest tax-evasion case in U.S. history, despite his claims of dementia, prosecutors said in a court filing.

By David Voreacos and Neil Weinberg

July 7
AT Think In the blogs: Smart advice

Infrastructure fantasies; trouble with the U.S.-Malta Treaty; the future of contactless prep; and other highlights from our favorite tax bloggers.

July 6

Jeff Stimpson

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.