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 penalties

IRS penalizes more taxpayers for underpayment of estimated taxes

The Internal Revenue Service has seen a surge in recent years of taxpayers underpaying their estimated taxes and paying the penalty for it.

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

August 15
Tax reform

Senior finance pros favor tax reforms

Senior finance professionals want to lower the corporate tax rate, capital gains taxes, and taxes on foreign income, while instituting a carbon emissions tax, according to a survey by the Institute of Management Accountants.

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

August 15
Tax planning

Atlas Tax Advisors teams with CPAs on tax planning

Atlas Tax Advisors is partnering with accounting firms on providing tax planning and wealth management services for clients.

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

August 15
Tax preparers

Latino tax pros ally with Paychex for payroll, HR

Members of the Latino Tax Professionals Association now have access to many more resources.

By Jeff Stimpson
Freelance writer

August 15
Tax preparation

H&R Block offers prep scholarships to military spouses

The tax prep chain granted more than $200,000 in similar funds in 2016.

By Jeff Stimpson
Freelance writer

August 15
Data security

CSTC partners to protect tax pros from hackers

California Society of Tax Consultants members can now get VeriFyle for free.

By Jeff Stimpson
Freelance writer

August 15
Finance, investment and tax-related legislation

Bipartisan support for small business R&D Credit bill

New legislation would require the IRS and the SBA to educate businesses on the subject.

By Roger Russell
Senior Editor

August 15

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.