IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
Expanded Child Tax Credit Monthly Payments to Start July 15
By Bernice NapachPayments will be automatic for those who filed their 2020 tax returns by May 17, this year's tax deadline.
April 13, 2021
U.S. Likely Failing to Collect $1 Trillion a Year in TaxesCryptocurrency and tax evasion by the wealthy contribute to the tax gap, IRS Commissioner Rettig says.
April 08, 2021
Ed Slott, American College Launch IRA Planning Course for AdvisorsThe CE-eligible, self-study program covers planning under the SECURE and CARES acts.
April 02, 2021
IRS to Refund Taxes Paid on 2020 Jobless BenefitsTaxpayers don't need to file an amended return unless the change qualifies them for additional tax benefits.
March 29, 2021
IRS Extends IRA Contribution DeadlineContributions to HSAs and Coverdell Education Savings Accounts also are extended to May 17.
March 26, 2021
Employee Retention Tax Credit Extended Through 2021Clients should note the changes that may make the tax credit more valuable, as well as important technical changes.
March 22, 2021
Can the IRS Rein In Wealthy Tax Cheats? Ed Slott Is SkepticalThe IRS commissioner recently pledged a crackdown, but Slott says that the agency is outgunned and that its efforts could ensnare lower earners.
March 18, 2021
Don't Forget These New Rules for RMDsThe Secure and Cares Acts brought several changes to retirement plan distributions that advisors should be aware of.