IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
IRS Warns of Schemes Involving Art Donations
By Melanie WaddellHigh-income taxpayers must "watch out for inflated values or questionable appraisals" tied to exaggerated deductions.
September 27, 2023
How to Get Tax Breaks, Tap Retirement Accounts After a Natural DisasterAmericans dealing with disasters may be eligible for tax deductions, deferred deadlines or penalty-free withdrawals.
September 27, 2023
How to Help Wealthy Clients Avoid Audits as IRS Cracks DownSome assets popular with wealthy investors, such as real estate, are likely to attract the IRS' attention.
September 20, 2023
New IRS Unit to Focus on Tax Dodging by Pass-ThroughsThe unit will crack down on large partnerships using pass-throughs to shield income, IRS' commissioner said.
September 18, 2023
IRS to Hire 3,700 Agents to Audit Wealthy Tax DodgersThe new hires will be specialized agents focused on high earners and complex partnerships, the IRS says.
September 15, 2023
9 Inflation-Related Tax Predictions for 2024 Retirement PlanningBloomberg Tax has projected the IRS' annual inflation adjustments for key tax thresholds and deferral limits.
September 08, 2023
IRS Launches New Crackdown on Wealthy Tax CheatsThe new initiative will be driven by AI and other technology to help IRS better detect tax cheating.
August 30, 2023
IRS Issues Guidance on 2023 State Tax PaymentsThe notice gives updates on refunds, deductions for state income and property taxes, and spillover payments.