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

Tax reform’s biggest winners

The Tax Cuts and Jobs Act that Congress passed last December produced some winners and some losers among different categories of taxpayers.

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

November 28
AT Think Savvy CPAs see AI as a tool, not a threat

AI is not just impacting tax preparers, but the companies that make tax prep software too. Many are going to be left behind.

November 28

Anthony Glomski

AG Asset Advisory
Tax breaks

Key GOP senator skeptical of Trump effort to strip GM tax break

Senate Finance Committee Chairman Orrin Hatch questioned President Donald Trump’s call to end a tax break for electric cars made by General Motors Co. and others following the company’s announcement that it would lay off workers and close plants.

November 28
Tax extenders

In final tax push, GOP’s best shot is extending industry breaks

House Ways and Means Committee Chairman Kevin Brady has given up on an additional round of tax cuts. Now, the only tax item he might be able to get passed this year is something he hates: the annual renewal of prized industry tax breaks.

November 28
Tax credits

Trump’s threat to kill GM’s tax credit subsidies prompts skeptical response

A legislative repeal of the credit could actually end up giving GM a better competitive position.

November 28
AT Think In the blogs: Declawed

Reform and job creation; Ohio takes bitcoin; getting everyone to agree; and other highlights from our favorite tax bloggers.

November 27

Jeff Stimpson
AT Think Stop deducting medical expenses. Here’s what to do instead

In today’s age of lost tax deductions many accountants are looking for new tax deductions they can offer their clients.

November 27

Henry Montag

The TOLI Center East

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.