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 planning

A new appreciation for bonus depreciation

The Tax Cuts and Jobs Act puts a whole new spin on an old strategy.

By Roger Russell
Senior Editor

December 19
Tax refunds

Oil trader sues for $52M tax refund

The company claims a huge amount of fuel taxes were improperly collected.

December 18
Accounting standards

FASB updates accounting for income taxes

ASU 2019-12 aims to simplify Topic 740 in GAAP.

By Daniel Hood
Editor-in-chief

December 18
Tax regulations

Regs proposed on compensation deductions

Among other things, the IRS’s proposals offer a new set of definitions.

By Jeff Stimpson
Freelance writer

December 18
Finance, investment and tax-related legislation

House passes $1.4T spending plan with tax provisions

The legislation extends a number of credits, and kills some Affordable Care Act taxes.

December 17
IRS

As new withholding looms, IRS launches tool to help small businesses

The online assistant is aimed at those who need to fill out the redesigned W-4.

By Jeff Stimpson
Freelance writer

December 17
AT Think In the blogs: Feelin’ risky

Year-end tips; why DIY; tolls, fees and taxes; and other highlights from our favorite tax bloggers.

December 17

Jeff Stimpson

Resources

The latest Accounting Today research and discussion:

Web Seminar The psychology of a modern tax workflow: Reducing anxiety, decision fatigue & compliance risk

In this session you'll learn practical, firm-tested principles to reduce confusion, improve predictability, and strengthen both client and staff confidence.

Partner Insights from SmartVault
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

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.