IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
October 10, 2022
IRS' New RMD Guidance Brings Relief to IRA Beneficiaries — for NowWhile uncertainty remains on future RMDs, the IRS announcement gives advisors and clients more room for planning.
October 10, 2022
How the Inflation Reduction Act's Stock Buyback Tax Could Rattle PortfoliosSome critics worry that discouraging stock buybacks could exacerbate the pains many are feeling amid shaky markets.
October 08, 2022
IRS Issues Ruling on 10-Year RMD RuleThe move answers "the No. 1 question" advisors and others have been asking about Secure Act RMD regulations, says tax expert Ed Slott.
October 06, 2022
New GOP Bill Blocks IRS From Boosting Audits of 'Middle-Class' TaxpayersThe IRS would be barred from using its $80 billion budget boost to audit taxpayers earning less than $400,000.
October 05, 2022
IRS Extends Tax Deadlines for Hurricane Ian Victims in CarolinasSimilar relief was announced last week for Ian victims in Florida.
October 04, 2022
IRS Broadens 3-Year Extension on CARES, Disaster Tax Relief ActsIRS has extended the deadline for plan sponsors to make amendments related to certain coronavirus aid or disaster relief rules.
September 28, 2022
IRS Warns of Rise in Text Scams Targeting Personal, Financial DataIRS has identified and reported thousands of fraudulent domains tied to texting scams, known as "smishing."
September 28, 2022
Lawmakers Press IRS to Extend Late Fee ReliefLawmakers are asking that taxpayer penalty relief be extended from Sept. 30 to mid- to late November.
September 21, 2022
Senate Finance Chair Broadens Inquiry Into Private Placement Life InsuranceThe mailing list now includes Prudential, Zurich and the ACLI.
September 21, 2022
IRS: Improperly Forgiven PPP Loans Are TaxablePPP loans forgiven based upon misrepresentations or omissions can't be deducted from income, the IRS said.