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 avoidance

GRI issues international corporate tax reporting standard

The Global Reporting Initiative has issued a new international tax reporting standard that aims to ensure multinational companies are much clearer about how much they pay in taxes, and where.

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

December 9
SCOTUS

High court temporarily keeps Trump financial records private

A U.S. Supreme Court justice temporarily blocked subpoenas that would force Deutsche Bank AG and Capital One Financial Corp. to turn over years of President Donald Trump’s financial documents to two House committees.

By Greg Stohr
Reporter

December 9
Tax planning

Pro tips: How to cut tax bills in the final weeks of 2019

There are still several ways to minimize 2019 tax bills before the end of the year.

By Laura Davison
Capitol Hill tax reporter

December 9
Tax-related court cases

Tax Fraud Blotter: Prong sung blue

Her (dis)Honor; fenced in; death and taxes; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

December 5
Tax franchises

Liberty Tax parent settles with Justice Department, IRS

The deal includes a $3 million payment, and an agreement not to rehire the tax prep chain's founder, John Hewitt.

By Jeff Stimpson
Freelance writer

December 5
Donald Trump

Trump appeals to Supreme Court on financial-records subpoena

The president wants the justices to decide whether he has to hand over records held by his accounting firm, Mazars.

December 5
Tax season

Ready or not: Suggestions for preparing for tax season

The IRS has ideas for taxpayers and their advisors to get ready for filing.

By Jeff Stimpson
Freelance writer

December 5

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.