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.

IRS

On Tax Day, the implications of a Trump-era IRS still taking shape

How honest will Americans be about their income when there are suddenly fewer auditors to check them?

By Erik Wasson
Capitol Hill reporter

April 15
Tax exemptions

Trump threatens Harvard's tax-exempt status

Harvard's tax-exempt status affords the school a variety of benefits, such as not having to pay traditional property taxes on educational buildings.

By Amanda Albright
Reporter

April 15
Treasury Department

Bessent says 'Everything's on the table' for taxes on wealthiest

The Treasury Secretary said the administration and the GOP are looking at a range of ways to help pay for President Trump's tax agenda, including extending his 2017 tax cuts.

April 14
Tax cuts

Most Americans don't know TCJA tax cuts will expire

A majority of Americans do not know that many provisions of the Tax Cuts and Jobs Act are temporary and set to expire this year, according to a new survey

By Paige Hagy
Reporter

April 14
Tax forms

Forms 1042-S due Thursday

The IRS has extended the deadline for reporting income paid to non-resident aliens, foreign corporations, and other foreign entities.

By Jeff Stimpson
Freelance writer

April 14
AT Think Art of Accounting: The end of this year's tax season

If you were designing a CPA practice from scratch, what would you do about tax season? Keep it as is, make some changes or possibly eliminate it?

April 14

Edward Mendlowitz

Withum
Audit

By the numbers: Remote work, state tax burdens and more

The latest data on the number of accountants working remotely, and where residents experience the highest and lowest lifetime tax burdens.

By Editorial Staff

April 14

Resources

The latest Accounting Today research and discussion:

Web Seminar Tax season post mortem

Join us for a transparent look at the challenges facing firms this year and how to overcome them for 2027.

Partner Insights from Canopy
Web Seminar Rethinking busy season: A modern operating model for K-1s

Busy season is over—but the bruises are still fresh. Many firms expected smoother K-1 workflows, yet encountered the same familiar bottlenecks, last-minute delays, and staff burnout. Instead of tweaking around the edges, we'll explore a modern operating model for managing K-1s at scale – from intake through exchange – designed to reduce rework, cycle time, and eliminate seasonal chaos.

Partner Insights from K1X
Tariffs and your clients

Dean Peterson and Blair Robbins of Eisner Advisory Group discuss the tax and business ramifications of the Trump administration's tariff policies that accountants should be advising clients about.

Sponsored by Intuit Quickbooks

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.