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.

Kevin Brady

GOP lawmaker Kevin Brady, leader of 2017 tax cuts, to retire

The top Republican on the House Ways and Means Committee said he would leave Congress at the end of this term.

By Laura Davison
Capitol Hill tax reporter

April 14
IRS

IRS to roll out expanded Child Tax Credit on July 1

Commissioner Charles Rettig left open the possibility that there may be delays.

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

April 14
IRS

IRS clarifies application of 2020 overpayments to Q1 estimated payments

The service offered information on how to elect to apply an overpayment on 2020 taxes against Q1 2021 estimated taxes, which are still due on April 15.

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

April 14
SALT deduction

N.Y. Democrats demand SALT break restoration

Seventeen Democrats told House Speaker Nancy Pelosi they would be ready to oppose any tax legislation that doesn't restore the break.

By Laura Davison
Capitol Hill tax reporter

April 14
Tax evasion

Tax cheats cost the U.S. $1T a year, IRS estimates

The new figure for the tax gap is multiples higher than previous estimates from the federal government.

By Laura Davison
Capitol Hill tax reporter

April 13
AT Think In the blogs: Reverse and forward

Cash for enforcement; lessons in fraud; when a deduction isn’t a subsidy; and other highlights from our favorite tax bloggers.

April 13

Jeff Stimpson
Tax planning

IRS sharpens focus on crypto transactions

A new initiative called Operation Hidden Treasure is only the latest in the service’s approach.

By Roger Russell
Senior Editor

April 13

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.