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.

AT Think What's new on the 2017 draft Form 1040

The first of two articles on the draft tax forms and instructions for the 2017 tax year released by the IRS.

October 20

Jeffrey Pretsfelder

Thomson Reuters Checkpoint
Tax reform

House GOP to keep higher tax rate on wealthy, Ryan says

House Speaker Paul Ryan said Friday that Republicans will include a fourth income tax bracket in their tax-overhaul plan so that top earners "do not see a big rate cut."

October 20
Tax preparation

PTIN renewal season opens

Tax preparers have until Dec. 31 to renew their registration with the IRS.

By Jeff Stimpson
Freelance writer

October 20
Tax reform

Senate adopts budget, giving momentum to Trump's tax plans

The GOP show of unity will allow reform to pass on a party-line vote.

October 20
Tax-related court cases

Tax Fraud Blotter: Silver and gold and jail

No more prep for mother and son; big refund for undercover agent; this will hurt a bit; and other highlights of recent tax cases.

By Jeff Stimpson
Freelance writer

October 19
Tax rates

IRS releases inflation adjustments for 2018

The standard deductions and personal exemptions will rise slightly.

By Jeff Stimpson
Freelance writer

October 19
AT Think In the blogs: Taxes in space

A stack of wants; the IRS and Equifax; limits to the Form 2848; and other highlights from our favorite tax bloggers.

October 19

Jeff Stimpson

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.