IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
Biden, McCarthy Forge Debt Deal in Bid to Avert Default
By Josh Wingrove, Jennifer Jacobs & Erik WassonThe deal would clawback funding for IRS agents and speed up some energy project environmental reviews, according to a GOP summary.
April 11, 2023
Big CPA Group Calls on IRS to Ease S-Corp Stock Reporting IssuesThe IRS provided a pathway for S corp owners to fix certain stock issuance mistakes.
April 07, 2023
8 'Nerdy' S Corp Facts to Impress Your Small-Business Owner ClientsKnowledge about S corporation rules can help advisors deliver insights to these clients, Jeff Levine says.
April 03, 2023
Watch Out When Using This Type of Trust: IRSThis kind of annuity trust can be misused by promoters, advisors and taxpayers trying to eliminate ordinary income and capital gains.
March 22, 2023
IRS Seeks Feedback on Tax Treatment of NFTsThe agency is seeking comments on the treatment of NFTs as collectibles.
March 20, 2023
Ed Slott: New IRS Guidance Clarifies 2023 RMDsWarn clients who turn 72 this year that they might get an incorrect RMD notice, Slott advises.
March 09, 2023
IRS Reminds Taxpayers of April 1 RMD Deadline"Starting in 2023 retirees can wait until age 73 to begin receiving RMDs," the IRS said.
February 28, 2023
Supreme Court Limits Fines for Not Reporting Overseas AccountsA businessman living abroad argued that the law left unwitting taxpayers vulnerable to draconian fines.