IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
Estate and Gift Tax Exclusions for 2023: How the Changes Affect Your Clients
By Joshua DeckerThe IRS has adjusted these thresholds for inflation.
December 07, 2022
IRS Highlights Shrinking Tax Credits, Third-Party Payment Changes for 2023Taxpayers who took certain credits in 2021 could get much smaller refunds in 2022, the IRS says.
November 29, 2022
IRS to Hike Interest Rates for Q1For individuals, the rate for overpayments and underpayments will be 7% per year, up from 6%.
November 17, 2022
How to Calculate 2023 RMDs for IRA HeirsMost experts assume that no RMDs from inherited IRAs will actually be required for 2021 and 2022.
November 07, 2022
IRS Expands 401(k) Tax-Favored Approval Process to 403(b)sCertain groups can soon use the same IRS process as qualified retirement plans when applying for tax-favored treatment.
November 01, 2022
How One Small Firm Uses Tech to Tackle Tax PlanningJames Hargrave explains to ThinkAdvisor how his firm, with about 10 people, punches above its weight — with a little help.
October 28, 2022
New Tax Gap Projected to be $540B a Year: IRSThe increase in the tax gap estimates "reflects that the IRS needs to do more," said Commissioner Rettig.
October 26, 2022
IRS Faces 2023 Audit of Its Own IRA Enforcement EffortsThe audit could affect clients who take early IRA withdrawals, or who contribute too much.