IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
February 02, 2024
Debate: Has IRS Guidance Helped Make the Case for Emergency Savings Accounts?Under Secure 2.0, this optional feature can be added to defined contribution retirement plans.
January 29, 2024
Ex-IRS Contractor Who Leaked Trump & Billionaires' Tax Data Gets 5 Years in PrisonEarlier, Charles Littlejohn admitted to taking tax information about thousands of wealthy Americans, like Jeff Bezos, and passing it to ProPublica.
January 25, 2024
IRS Issues Rollover Relief for Maryland Prepaid 529 PlanSome transfers from the plan, which had accounting issues, to another plan can be excluded from gross income.
January 17, 2024
DOL Releases FAQ on Secure 2.0 Emergency Savings AccountsLabor's FAQ covers eligibility, contribution, distribution and withdrawal rules.
January 16, 2024
What the Hungary Tax Treaty Termination Means for AdvisorsThe Treasury Department has canceled a tax treaty, one in effect since 1979. That's unusual.
January 12, 2024
IRS Releases Secure 2.0 Emergency Savings Account GuidanceThe guidance helps employers implement pension-linked emergency savings accounts.
January 08, 2024
Buyers Can Get Up-Front Electric Vehicle Rebates in 2024The new approach does away with having to wait until the following year to claim a tax benefit.
January 08, 2024
Tax Filing Season Starts Jan. 29The IRS expects more than 128.7 million individual tax returns to be filed by the April 15 deadline.
January 08, 2024
Social Security Gets 2024 Wage Base BoostMore than $8,000 in additional wages are subject to the Social Security tax in 2024.
January 04, 2024
IRS Clarifies Secure 2.0 RulesThe Q&A guidance addresses Roth contributions, auto-enrollment and terminal illness distributions.