IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
Sen. Wyden Calls for 6 Economic Actions Against Russia
By Melanie WaddellCongress must address key areas to punish Putin for invading Ukraine, the Senate Finance Committee chair said.
February 18, 2022
Early IRA Distributions Without Penalty Just Got More AttractiveNew IRS guidance gives IRA holders using this emergency cash option a chance to receive larger payments.
February 17, 2022
IRS 'Buried' in Paper Tax Returns: Taxpayer AdvocateAs of early February, the IRS had about 17.6 million tax returns requiring manual processing, Taxpayer Advocate Erin Collins says.
February 16, 2022
Ed Slott: Hold Off on Backdoor Roths, and More Tips for Tax Season in 2022The IRA and tax whiz offers guidance for advisors dealing with legislative uncertainty, RMD changes and other challenges.
February 10, 2022
Does Your Client Need to Repay Advance Child Tax Credits for 2021?The IRS has been updating its FAQ on the tax credit frequently, and the details are important.
February 08, 2022
IRS Reminds Taxpayers of American Rescue Plan BenefitsThey include a new deduction for charitable gifts and the rebate for those who missed 2021's third stimulus payments.
February 07, 2022
IRS to End Use of Facial Recognition on Tax AccountsResearch has shown that AI-driven facial recognition software often makes mistakes with darker-skinned people.
January 27, 2022
Senators Press Yellen to Boost IRS FundingSen. Elizabeth Warren and others want at least a14% increase in yearly IRS funding and $80 billion invested in the agency over 10 years.