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-related court cases

Tax Fraud Blotter: Rainy day feelings

Diversionary tactic; bad intentions; keeping it real; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

September 5
Tax credits

Congress proposes to eliminate taxes on Social Security, extend Obamacare credits

Lawmakers introduced two pieces of legislation to completely eliminate taxes on Social Security benefits and extend the premium tax credits for health insurance for one year

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

September 5
Technology

Tech news: Xero announces new upgrades

Plus, ADP launches wave of new AI features; Deloitte announces AI Infrastructure Center of Excellence; and other accounting tech updates.

By Chris Gaetano
Technology Editor

September 5
Tariffs

Trump's tariffs leave US business tied up in costly red tape

The bureaucratic burden is a less-discussed consequence of Trump's move to hike import taxes to a hundred-year high.

By Jordan Fabian
Reporter

September 5
IRS

IRS withdraws passport revocation rules for taxpayers

The State Department can disclose tax return information to contractors who help revoke or deny a passport of anyone with a seriously delinquent tax debt.

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

September 4
Tax breaks

AI data centers near tax break with $165B of phantom debt

Commissioners in a New Mexico county voted four to one to advance a resolution that would provide tax breaks to the backer of a massive data center development.

By Bloomberg News

September 4
Tax credits

GM cuts Bolt EV production plan as tax credit loss looms

General Motors will launch the Chevrolet Bolt electric vehicle in December with one shift at its plant in Kansas, less than the two shifts initially planned.

By Bloomberg News

September 4

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.