IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
Taxpayers' Gift Tax Bill Rose to $2.8 Billion in 2021
By Allison BellA newly released table for 2021 shows that 1,101 taxpayers owed $1 million or more.
July 25, 2023
Debate: Will 2023 RMD Relief Come Back to Haunt IRA Beneficiaries?Some IRA beneficiaries may actually face higher total tax liability, one of our Tax Facts experts argues.
July 24, 2023
IRS Halts Most Unannounced Home VisitsThe change is a response to safety concerns for both agents and taxpayers, the IRS says.
July 24, 2023
6 New IRS Guidelines Advisors Should KnowDigital assets, RMDs, and HSAs are just a few of the topics addressed so far in 2023.
July 21, 2023
Summertime Phishing Schemes Are Heating Up, IRS WarnsThe IRS is seeing a rise in scams, most notably promises related to a third round of Economic Impact Payments.
July 19, 2023
IRS Collection Notices Send Taxpayers in Disaster Areas ScramblingThe IRS buried a disclaimer on page 4 of its notice that it didn't apply to those in disaster areas.
July 17, 2023
IRS Issues New 2023 RMD Relief for IRA BeneficiariesNew guidance also gives 72-year-olds who mistakenly started RMDs early extra time to return the money.
July 14, 2023
IRS Cracks Down on 175 Millionaire Tax CheatsThe agency is touting its crackdown efforts after receiving an $80 billion 10-year funding boost.