IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
IRS to Refund Taxes Paid on 2020 Jobless Benefits
By Melanie WaddellTaxpayers don't need to file an amended return unless the change qualifies them for additional tax benefits.
March 22, 2021
Can the IRS Rein In Wealthy Tax Cheats? Ed Slott Is SkepticalThe IRS commissioner recently pledged a crackdown, but Slott says that the agency is outgunned and that its efforts could ensnare lower earners.
March 18, 2021
Don't Forget These New Rules for RMDsThe Secure and Cares Acts brought several changes to retirement plan distributions that advisors should be aware of.
March 17, 2021
IRS Extends Tax Filing DeadlineThe House Ways and Means Committee chairman had called on the IRS to extend the deadline.
March 17, 2021
90 Million Stimulus Payments Sent, More Coming Soon: IRS, TreasuryFirst batch of payments issued mostly by direct deposit this past weekend, but Treasury also mailed roughly 150,000 checks worth $442 million.
March 17, 2021
12 Tax Tips for Maximizing Stimulus Package BenefitsYour clients should time their 2020 income tax filings carefully, Buckingham's Jeffrey Levine tells advisors.
March 17, 2021
Millionaires Owe IRS More Than $2B in Unpaid Taxes"Taxpayers having an average AGI of over $1.5 million paid the IRS an average of 39% of what they owe," a Treasury watchdog report states.
March 08, 2021
Lawmakers Urge IRS to Extend Tax Filing Deadline"We demand that the IRS announce an extension as soon as possible," Reps. Neal and Pascrell said.