IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
IRS Extends Tax Deadlines for Hurricane Ian Victims in Carolinas
By Melanie WaddellSimilar relief was announced last week for Ian victims in Florida.
September 28, 2022
Lawmakers Press IRS to Extend Late Fee ReliefLawmakers are asking that taxpayer penalty relief be extended from Sept. 30 to mid- to late November.
September 21, 2022
Senate Finance Chair Broadens Inquiry Into Private Placement Life InsuranceThe mailing list now includes Prudential, Zurich and the ACLI.
September 21, 2022
IRS: Improperly Forgiven PPP Loans Are TaxablePPP loans forgiven based upon misrepresentations or omissions can't be deducted from income, the IRS said.
September 16, 2022
Yellen Outlines Taxpayer Service Upgrades in IRS OverhaulThe effects of the IRS' $80 billion budget boost should be noticeable by next filing season, Yellen said.
September 08, 2022
Debate: Should Tax Deferrals From Opportunity Zone Investments Be Extended?Two professors discuss delaying the taxation of these capital gains through 2028.
September 02, 2022
IRS Posts LTCI Issuer Rehabilitation Letter RulingThe transaction should not affect the policyholders' federal income taxes, according to an IRS senior counsel.
August 26, 2022
Debate: When Is Workplace Health Insurance 'Unaffordable'?Two professors discuss the likely effects of reducing the income threshold for an Affordable Care Act tax credit.