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 relief

Businesses get extension relief for winter storms

The IRS is allowing many companies extra time to file the income tax returns.

By Jeff Stimpson
Freelance writer

March 13
Trump tax plan

IRS offers more info on transition tax for multinationals

The Internal Revenue Service provided additional information Tuesday to help corporate taxpayers deal with the new section 965 transition tax for repatriating foreign profits under the tax law that Congress passed in December.

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

March 13
Tax evasion

IRS plans to end offshore voluntary disclosure program

The Internal Revenue Service said Tuesday it plans to close the 2014 Offshore Voluntary Disclosure Program on Sept. 28, 2018 and will start winding it down before that date.

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

March 13
Bitcoin

Cryptocurrencies and taxes: A primer

Clients may face unexpected tax consequences from transactions with these digital assets.

By Roger Russell
Senior Editor

March 13
Credit scores

Block to offer clients credit scores and analysis

The tax prep chain has partnered with online lender LendingTree.

By Jeff Stimpson
Freelance writer

March 13
Tax returns

IRS more likely to question returns than taxpayers think: Block

Audits aren’t the only ways the service can put them on the spot, the tax prep chain warns.

By Jeff Stimpson
Freelance writer

March 13
Tax rules

Illinois CPA Society shares March Madness tax tips

The Illinois CPA Society has some advice for taxpayers who are betting on the March Madness tournament and manage to win money on their picks for the brackets.

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

March 13

Resources

The latest Accounting Today research and discussion:

Web Seminar The most important supply for tax firms isn't found on shelves

In this webinar, we'll show you how tax and accounting professionals are leveraging new technologies to make their firms more efficient and to stay ahead of competitors.

Partner Insights from Thomson Reuters
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

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.