IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
IRS Expands Crackdown on Bogus Employee Retention Credit Claims
By John ManganaroThe agency is sending an initial round of more than 20,000 letters notifying taxpayers of disallowed ERC claims.
November 28, 2023
Government Shutdown Would Cause Tax Filing Nightmare, CPAs Warn IRSThe continuing resolution that's currently funding the IRS expires less than two weeks after tax season starts.
November 22, 2023
IRS Again Delays $600 Reporting Requirement for Venmo Payments, CrowdfundingThe agency will phase in the reporting requirement with a higher threshold in 2024.
November 15, 2023
New Tax Credit Boosts Appeal of Used Electric CarsFor taxpayers who qualify, the Section 25E credit can make buying a used electric vehicle more affordable.
November 10, 2023
13 New Tax Numbers to Know for 2024The newly released updates to brackets, estate exemptions and more reflect another year of persistent inflation.
November 09, 2023
IRS Announces Tax Inflation Adjustments for 2024The Internal Revenue Service just posted standard deductions and other adjustments for 60-plus 2024 tax provisions.
November 03, 2023
IRS Indefinitely Extends E-Signature AuthorizationThe acceptance of digital signatures on key documents continues "until more robust technical solutions are deployed."
November 01, 2023
IRS Raises 401(k), IRA Contribution Limits for 2024The agency just announced 2024 increases to a number of income ranges and limits tied to retirement accounts.