IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
IRS to Hire 3,700 Agents to Audit Wealthy Tax Dodgers
By Melanie WaddellThe new hires will be specialized agents focused on high earners and complex partnerships, the IRS says.
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.
August 25, 2023
IRS Extends Deadline for Roth Catch-Up Contributions in New Secure 2.0 GuidanceCatch-up contributions made by wealthy 401(k) participants must be designated as after-tax Roth contributions by 2026.
August 16, 2023
IRS Cuts Wait Times, Makes New HiresThe IRS says it has reached several milestones with funds from the year-old Inflation Reduction Act.
August 15, 2023
Tax Watchdog Says IRS Botched Oversight of Taxpayer RecordsA new report suggests the IRS has mishandled and misplaced key tax records and sensitive information for individuals and businesses.
August 09, 2023
IRS Warns of Schemes Tied to Employee Stock Ownership PlansIn addition, the IRS said that it has seen promoted arrangements using ESOPs that are "potentially abusive."
August 08, 2023
New IRS Crypto Ruling Can Save Your Clients MoneySome clients with income from crypto staking may have paid taxes prematurely.
August 03, 2023
Taxpayers' Gift Tax Bill Rose to $2.8 Billion in 2021A newly released table for 2021 shows that 1,101 taxpayers owed $1 million or more.