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.

IRS

New IRS commissioner plans implementation of Trump tax bill

Billy Long explained his plans for the Internal Revenue Service and the new tax bill during his first public talk as IRS commissioner.

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

July 28
Tariffs

Trump floats rebate checks for Americans from tariff revenue

President Donald Trump said he is considering sending rebate checks to Americans using revenue from tariff increases his administration is imposing on U.S. trading partners.

By Bloomberg News

July 25
IRS

IRS may eliminate non-English tax services

The Treasury Department is reportedly mulling plans for the IRS to eliminate its multilingual services, such as tax forms and assistance in languages other than English.

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

July 25
IRS

IRS warns: Revalidate business tax accounts by July 29 or lose access

The Internal Revenue Service said "designated officials" need to revalidate their business tax account by the July 29 deadline in order to maintain access.

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

July 25
Tax-related court cases

Tax Fraud Blotter: Getting personal

The not-so-great outdoors; spear itself; pain and gain; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

July 24
IRS

IRS ups ACA employer penalties

The Internal Revenue Service announced indexing adjustments to the applicable dollar amount used to calculate employer shared responsibility payments under the Affordable Care Act.

By Paige Hagy
Reporter

July 24
Trump tax plan

Johnson bets Trump tax cuts will help GOP in 2026

House Speaker Mike Johnson is betting the upfront rewards from President Donald Trump's tax law will carry his party in the 2026 midterm elections.

By Bloomberg News

July 24

Resources

The latest Accounting Today research and discussion:

Web Seminar Rethinking busy season: A modern operating model for K-1s

Busy season is over—but the bruises are still fresh. Many firms expected smoother K-1 workflows, yet encountered the same familiar bottlenecks, last-minute delays, and staff burnout. Instead of tweaking around the edges, we'll explore a modern operating model for managing K-1s at scale – from intake through exchange – designed to reduce rework, cycle time, and eliminate seasonal chaos.

Partner Insights from K1X
Tariffs and your clients

Dean Peterson and Blair Robbins of Eisner Advisory Group discuss the tax and business ramifications of the Trump administration's tariff policies that accountants should be advising clients about.

Sponsored by Intuit Quickbooks
How Advisory Services Create a Competitive Edge

Design advisory services that drive growth

Partner Insights from Wolters Kluwer

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.