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.

Corporate taxes

House said to consider five-year phase-in for corporate tax cut

House tax writers are discussing a gradual phase-in for the corporate tax-rate cut that President Donald Trump and Republican leaders want—a schedule that would have the rate reach 20 percent in 2022, according to a member of the chamber’s tax-writing committee and a person familiar with the discussions.

October 30
Tax relief

Tax relief granted to storm victims in La., S.C.

The IRS has extended deadlines and more for some taxpayers affected by Harvey and Irma.

By Jeff Stimpson
Freelance writer

October 27
Tax reform

White House sees 3 to 5% boost to economy from corporate tax cut

Cutting the corporate tax rate to 20 percent would boost U.S. economic growth by 3 to 5 percent over time, according to an analysis produced by President Donald Trump’s White House.

October 27
Identity theft protection

IRS still grappling with e-Services delay

The Internal Revenue Service has not been able to upgrade its online e-Services applications to a more secure authentication method, the IRS admitted Friday.

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

October 27
AT Think Tax Strategy: The broad principles of tax reform

As Congress moves closer to drafting the details, it's worth revisiting the GOP's Unified Framework.

October 27

Mark A. Luscombe

Wolters Kluwer Tax & Accounting
Tax reform

Tax plan makes lobbyists swarm; lawmakers ask what’s in it?

Republicans are barreling into a lobbying frenzy next week, when House Ways and Means Chairman Kevin Brady plans to unveil a sweeping tax bill to remake the U.S. economy that’s being crafted with rigorous secrecy.

October 27
Tax reform

Tough choices remain for tax reform

House passage of the Senate budget resolution opens the door to wrangling next week.

By Roger Russell
Senior Editor

October 26

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
On-Demand 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.