IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
July 21, 2023
Summertime Phishing Schemes Are Heating Up, IRS WarnsThe IRS is seeing a rise in scams, most notably promises related to a third round of Economic Impact Payments.
July 19, 2023
IRS Collection Notices Send Taxpayers in Disaster Areas ScramblingThe IRS buried a disclaimer on page 4 of its notice that it didn't apply to those in disaster areas.
July 17, 2023
IRS Issues New 2023 RMD Relief for IRA BeneficiariesNew guidance also gives 72-year-olds who mistakenly started RMDs early extra time to return the money.
July 14, 2023
IRS Cracks Down on 175 Millionaire Tax CheatsThe agency is touting its crackdown efforts after receiving an $80 billion 10-year funding boost.
July 10, 2023
IRS Issues New Guidance on Stock Buyback TaxCorporations do not yet have to pay the tax but should keep records, the IRS confirmed.
June 27, 2023
IRS to Pilot Free Tax Filing Tool in 2024Sen. Warren and other Democrats are applauding the IRS announcing it is "taking steps to begin a pilot project for the 2024 filing season."
June 26, 2023
IRS to Phase Out Pandemic-Period HSA RulesNo-deductible coverage for COVID-19 tests and treatments must end by Dec. 31, 2024.
May 28, 2023
Biden, McCarthy Forge Debt Deal in Bid to Avert DefaultThe deal would clawback funding for IRS agents and speed up some energy project environmental reviews, according to a GOP summary.
May 26, 2023
Emerging U.S. Debt Deal Would Raise Limit, Cap Spending for 2 YearsThe tentative deal would cut $10 billion from the $80 billion IRS budget increase and would upgrade the electric grid.
May 23, 2023
Ed Slott: The IRA Conversation Advisors and Clients Must Have NowSlott talks to ThinkAdvisor about upcoming tax changes, Social Security's future and how to handle missed RMDs.