IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
IRS Again Delays $600 Reporting Requirement for Venmo Payments, Crowdfunding
By John ManganaroThe agency will phase in the reporting requirement with a higher threshold in 2024.
November 09, 2023
IRS Announces Tax Inflation Adjustments for 2024The Internal Revenue Service just posted standard deductions and other adjustments for 60-plus 2024 tax provisions.
November 03, 2023
IRS Indefinitely Extends E-Signature AuthorizationThe acceptance of digital signatures on key documents continues "until more robust technical solutions are deployed."
November 01, 2023
IRS Raises 401(k), IRA Contribution Limits for 2024The agency just announced 2024 increases to a number of income ranges and limits tied to retirement accounts.
October 20, 2023
IRS Proposes Electric Car Tax Credits for Down PaymentsThe regulations, if finalized, would allow EV buyers to put the tax credit directly toward their purchase.
October 18, 2023
4 States to Test-Run IRS Free Filing Tool in 2024Taxpayer eligibility will be limited to those with relatively simple returns, the IRS says.
October 12, 2023
Tax Gap Jumps to $688B, IRS ProjectsNonfiling, underreporting and underpayment contribute to the revised increase for 2021, the agency says.
October 12, 2023
IRS Misled Taxpayers About Free Filing Tool, Watchdog Report SaysTaxpayer interest in a Direct File tool may be overstated due to flawed survey design, according to a report.