IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
IRS Broadens 3-Year Extension on CARES, Disaster Tax Relief Acts
By Melanie WaddellIRS has extended the deadline for plan sponsors to make amendments related to certain coronavirus aid or disaster relief rules.
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.
August 25, 2022
The New Electric Vehicle Tax Credit: Mind the DetailsThis Inflation Reduction Act tax break comes with income limitations, and not every electric vehicle will qualify.