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.

Estate taxes

IRS sees no ‘clawback’ from higher estate and gift tax exemption

Individuals who give lots of gifts to their heirs under a generous but temporary provision of the 2017 Republican tax overhaul won’t later owe taxes on them.

November 21
Tax prep software

Intuit releases tax year 2018 updates for ProSeries, Lacerte

The updates include tax reform related diagnostics to help tax pros stay on top of potential tax reform changes.

By Ranica Arrowsmith
Technology Editor

November 21
Tax planning

IRS proposes to extend bigger gift and estate tax exclusion amounts beyond 2025

Wealthy taxpayers taking advantage of the increased limits won’t have to worry about them expiring so soon.

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

November 21
AT Think In the blogs: Spelling ‘QBI’

A 199A formula; changes in gifting; scams and scandals; and other highlights from our favorite tax bloggers.

November 20

Jeff Stimpson
Hedge funds

Hedge fund investors lose key tax break for management expenses

For some hedge fund investors, President Donald Trump’s tax overhaul adds insult to the injury from poor investment performance.

November 20
Sales tax

Sales tax collection gone wrong

False accusations against a taco chain in Seattle offer a cautionary tale for businesses and their advisors.

By Roger Russell
Senior Editor

November 20
Tax reform

IRS points to new limits on like-kind exchanges

The Internal Revenue Service is reminding taxpayers about a change under the new tax law that limits exchanges of property.

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

November 19

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.