Tax & Industry News
Fast briefings on tax-law changes, IRS deadlines, state tax updates, and accounting-industry news that directly affect CPA-firm operations. Each post breaks down what changed, who it impacts (which client segments, which filing types), what action firms need to take, and the operational implications — not just the legal text. We cover federal updates from IRS.gov and treasury.gov, state-level changes from FTB, NYDTF, Texas Comptroller, FBI, FinCEN; plus industry news on AICPA standards, peer-review requirements, and the practice management software landscape.
15 articles
How TaxScout news differs from IRS bulletins
When the IRS issues a notice or revenue procedure, the official text is written for tax counsel — multi-page, statutory citations, no operational guidance. By the time it filters down to your firm's tax season, you've lost a week trying to figure out who's affected and what to actually do.
TaxScout news posts cut that loop. Every brief follows the same structure: what changed, when it takes effect, which client segments are affected (1040 individual, S-corp owners, partnerships, nonprofits), what action firms need to take this week, and a link back to the primary IRS or Treasury source. If a change affects fewer than 5% of typical CPA-firm clients, we'll still cover it but flag it as low-priority — so reviewers can skim.
What we cover
Federal updates from IRS.gov, Treasury, and the Federal Register: revenue procedures, revenue rulings, notices, regulations, and form changes. State updates from the major revenue departments: California FTB, New York DTF, Texas Comptroller, Florida DOR, Illinois IDOR. Industry standards from AICPA, the state CPA societies, and peer-review bodies. Compliance regimes touching CPAs: BOI, FinCEN, GLBA Safeguards Rule. Industry consolidation, new entrants, and platform changes that affect firm tooling decisions.
Topics covered
The clusters under this pillar — jump directly to the playbook for your current question.
All tax & industry news
Section 898(c) Transition Rule for Allocating Foreign Taxes: What CPA Firms Must Do Now
Section 898(c) Transition Rule for Allocating Foreign Taxes: What CPA Firms Must Do Now
On August 31, 2026, the IRS published a correction to proposed regulations REG-115145-25 in the Federal Register, amending rules on the Section 898(c) transition rule for allocating foreign taxes and the Section 960(d)(4) foreign tax credit disallowance. CPA firms with clients holding interests in controlled foreign corporations need to review the corrected text and update their international compliance checklists now.
Pro Rata Share of Subpart F Income, Tested Income, or Tested Loss: What CPA Firms Must Do Now
Pro Rata Share of Subpart F Income, Tested Income, or Tested Loss: What CPA Firms Must Do Now
The IRS published proposed regulations on August 26, 2026 that reshape how U.S. shareholders must calculate their pro rata share of Subpart F income, tested income, or tested loss from controlled foreign corporations. The rules affect any CPA firm with clients who hold CFC interests — including S-corporation shareholders, individual investors, and partnerships with offshore structures. Here is a focused action brief for firm owners.
Guidance on Eligible Investments for Trump Accounts: What CPA Firms Must Do Now
Guidance on Eligible Investments for Trump Accounts: What CPA Firms Must Do Now
The IRS released proposed regulations on August 21, 2026 defining eligible investments for Trump Accounts—the new minor-beneficiary savings vehicles created under recent tax legislation. The rules restrict allowable assets until the beneficiary turns 18 and affect trustees, account administrators, and CPAs advising individual and employer-plan clients. Here is what small and mid-size CPA firms need to know and do this week.
IRS Income Taxes Rule Published August 21 2026: What CPA Firms Must Do Now
IRS Income Taxes Rule Published August 21 2026: What CPA Firms Must Do Now
The IRS published a new income taxes document in the Federal Register on August 21, 2026 (Document No. 2026-17154). This brief cuts through the agency language to tell CPA firm owners exactly which client segments are affected and what steps to take before the week is out.
Employer Contributions to Trump Accounts and Nondiscrimination Rules Explained for CPAs
Employer Contributions to Trump Accounts and Nondiscrimination Rules Explained for CPAs
On August 11, 2026, the IRS published proposed regulations governing employer contributions to Trump accounts and nondiscrimination rules for dependent care assistance programs. This news brief extracts the operational impact for small and mid-size CPA firms and lists what to do this week across 1040, S-corp, partnership, and nonprofit client files.
Foreign Currency Gain or Loss of Controlled Foreign Corporations: What CPA Firms Must Do Now
Foreign Currency Gain or Loss of Controlled Foreign Corporations: What CPA Firms Must Do Now
Treasury and the IRS published proposed regulations on August 14, 2026 that reshape how controlled foreign corporations compute and recognize foreign currency gain or loss on QBU remittances. CPA firms with international clients need to assess exposure now and document their review before comments close.
Agency Information Collection Activities: IRS Seeks Comments on Contractor Disclosure Burden
Agency Information Collection Activities: IRS Seeks Comments on Contractor Disclosure Burden
The IRS published a Paperwork Reduction Act comment request on July 27, 2026, targeting the disclosure of return information under written contractor agreements for tax administration. Small and mid-size CPA firms that serve government contractors, nonprofits, or multi-entity clients with IRS data-sharing agreements have a narrow window to comment. Here is the operational breakdown your firm needs.
Information Reporting and Transfer for Valuable Consideration Rules: What CPA Firms Must Do Now
Information Reporting and Transfer for Valuable Consideration Rules: What CPA Firms Must Do Now
The IRS published final regulations on July 9, 2026 that extend information reporting and transfer for valuable consideration rules to Section 1035 exchanges of life insurance contracts. Small and mid-size CPA firms with individual and business clients holding life insurance policies need to act now to identify affected transactions and update their intake workflows.
Charitable Remainder Annuity Trust Listed Transaction: What CPA Firms Must Do Now
Charitable Remainder Annuity Trust Listed Transaction: What CPA Firms Must Do Now
The IRS published final regulations on July 9, 2026, officially designating certain charitable remainder annuity trust (CRAT) transactions as listed transactions. CPA firms with high-net-worth clients, nonprofit advisees, or estate planning engagements face immediate disclosure obligations and stiff penalties for non-compliance. Here is the operational breakdown every firm owner needs this week.
Qualified Domestic Trust Regulations Under Section 2056A Revised by IRS
Qualified Domestic Trust Regulations Under Section 2056A Revised by IRS
The IRS published final regulations on July 10, 2026, revising the Qualified Domestic Trust rules under Section 2056A to eliminate outdated references and modernize filing procedures. CPA firms with clients who have noncitizen spouses in estate plans need to review open files now. Here is what changed, who it affects, and a short action checklist for this week.
Increase in Threshold for Requiring Information Reporting
Increase in Threshold for Requiring Information Reporting
On July 2, 2026, the IRS published a hearing notice for proposed regulations (REG-113229-25) that would raise the dollar thresholds triggering 1099 information reporting and backup withholding for trade or business payments. CPA firms serving self-employed clients, S-corps, partnerships, and nonprofits need to understand the operational implications now — before the public comment window closes.
Returns Relating to Sales or Exchanges of Certain Partnership Interests: What CPAs Must Do Now
Returns Relating to Sales or Exchanges of Certain Partnership Interests: What CPAs Must Do Now
The IRS published final regulations on May 20, 2026 modifying information reporting obligations for sales or exchanges of certain partnership interests — specifically those holding inventory or unrealized receivables. CPA firms with partnership clients need to review engagement scope, update intake workflows, and flag affected returns before the next filing deadline.
IRS Tax Deadlines 2026: What Every CPA Must Know
IRS Tax Deadlines 2026: What Every CPA Must Know
The 2026 IRS deadline calendar isn't just a list of dates — it's a series of operational triggers your firm needs to act on. This practitioner-facing guide maps every key cutoff to the workflow actions that keep your pipeline moving. Stop reacting to missed deadlines and start building a firm that runs ahead of them.
BOI Reporting Deadline 2026: Prepare Your Firm Now
BOI Reporting Deadline 2026: Prepare Your Firm Now
The 2026 BOI reporting deadline is an active operational challenge for every CPA managing business-entity clients. FinCEN's beneficial ownership requirements under the Corporate Transparency Act have shifted enough times that firm-wide clarity is critical. This guide delivers a practical action checklist covering who's affected, key deadlines, penalty exposure, and exactly how to operationalize compliance.
New York State Tax Updates 2026 CPAs Need to Know
New York State Tax Updates 2026 CPAs Need to Know
New York State's 2026 tax changes are already hitting client accounts — from revised income tax brackets to updated NYC resident surcharges and corporate franchise tax shifts. For CPAs managing multi-state books, falling behind isn't an option. Get the updates that matter most before your next client call.
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