IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
August 16, 2023
IRS Cuts Wait Times, Makes New HiresThe IRS says it has reached several milestones with funds from the year-old Inflation Reduction Act.
August 15, 2023
Tax Watchdog Says IRS Botched Oversight of Taxpayer RecordsA new report suggests the IRS has mishandled and misplaced key tax records and sensitive information for individuals and businesses.
August 09, 2023
IRS Warns of Schemes Tied to Employee Stock Ownership PlansIn addition, the IRS said that it has seen promoted arrangements using ESOPs that are "potentially abusive."
August 08, 2023
New IRS Crypto Ruling Can Save Your Clients MoneySome clients with income from crypto staking may have paid taxes prematurely.
August 03, 2023
Taxpayers' Gift Tax Bill Rose to $2.8 Billion in 2021A newly released table for 2021 shows that 1,101 taxpayers owed $1 million or more.
August 02, 2023
IRS to Digitally Process All Tax Returns by 2025By the 2024 filing season, taxpayers will be able to go paperless if they choose to.
July 28, 2023
IRS Names Strategy Chief to Spearhead Use of $80B Funding BoostDavid Padrino will focus on short- and long-term improvements under the agency's new operating plan.
July 25, 2023
Debate: Will 2023 RMD Relief Come Back to Haunt IRA Beneficiaries?Some IRA beneficiaries may actually face higher total tax liability, one of our Tax Facts experts argues.
July 24, 2023
IRS Halts Most Unannounced Home VisitsThe change is a response to safety concerns for both agents and taxpayers, the IRS says.
July 24, 2023
6 New IRS Guidelines Advisors Should KnowDigital assets, RMDs, and HSAs are just a few of the topics addressed so far in 2023.