IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
Emerging U.S. Debt Deal Would Raise Limit, Cap Spending for 2 Years
By Akayla Gardner and Justin SinkThe tentative deal would cut $10 billion from the $80 billion IRS budget increase and would upgrade the electric grid.
April 07, 2023
8 'Nerdy' S Corp Facts to Impress Your Small-Business Owner ClientsKnowledge about S corporation rules can help advisors deliver insights to these clients, Jeff Levine says.
April 03, 2023
Watch Out When Using This Type of Trust: IRSThis kind of annuity trust can be misused by promoters, advisors and taxpayers trying to eliminate ordinary income and capital gains.
March 22, 2023
IRS Seeks Feedback on Tax Treatment of NFTsThe agency is seeking comments on the treatment of NFTs as collectibles.
March 20, 2023
Ed Slott: New IRS Guidance Clarifies 2023 RMDsWarn clients who turn 72 this year that they might get an incorrect RMD notice, Slott advises.
March 09, 2023
IRS Reminds Taxpayers of April 1 RMD Deadline"Starting in 2023 retirees can wait until age 73 to begin receiving RMDs," the IRS said.
February 28, 2023
Supreme Court Limits Fines for Not Reporting Overseas AccountsA businessman living abroad argued that the law left unwitting taxpayers vulnerable to draconian fines.
February 22, 2023
New Bill Cuts IRS Funding to Boost Social Security, MedicareSen. Rick Scott's Protect Our Seniors Act is drawing skepticism from Social Security advocates.