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 reform

IRS gives foreign banks a break in Trump tax law's new levy

Proposed regs would give them some leeway in their calculations.

December 17
Tax credits

High Tesla sales trigger tax credit phase-out

The company sold more than 200,000 eligible cars, so the taxpayer credit will start shrinking.

By Jeff Stimpson
Freelance writer

December 17
South Dakota v. Wayfair

California sets new post-Wayfair sales tax rules

Experts see the state’s position spurring sellers to sit up and take notice.

By Daniel Hood
Editor-in-chief

December 16
Tax deductions

IRS raises mileage rates for 2019

For business use, taxpayers will be able to deduct 58 cents a mile starting Jan 1.

By Jeff Stimpson
Freelance writer

December 15
Tax season

10 smart end-of-year tax moves

It’s not too late to cut down clients' tax liability before the end of the year.

By Mike D'Avolio
Senior tax analyst

December 13
Tax-related court cases

Tax Fraud Blotter: Man of steal

Big bank shuffle; tax fraud smoked; asphalt, trees and evasion; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

December 13
Tax regulations

IRS proposes regulations on base erosion and anti-abuse tax for multinationals

The Internal Revenue Service issued a set of proposed rules on the new BEAT provisions added by the Tax Cuts and Jobs Act.

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

December 13

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.