IRS Updates
Stay on top of the most recent information from the IRS that can impact your clients.
IRS Adjusts Standard Mileage Rates for 2024
By Melanie WaddellThe figures are used to calculate deductible costs of driving for business, charitable, medical or moving purposes.
December 06, 2023
IRS Expands Crackdown on Bogus Employee Retention Credit ClaimsThe agency is sending an initial round of more than 20,000 letters notifying taxpayers of disallowed ERC claims.
December 01, 2023
The IRS Delayed Its Payment Reporting Rule Change Again. Is That Good for Taxpayers?The rule for payments via Venmo and other apps won't take full effect till 2025 at the earliest.
December 01, 2023
8 Things Advisors Should Know About 401(k) Tax CreditsTraditional barriers to entry in the employer-sponsored retirement plan market are no longer prohibitive.
November 28, 2023
Government Shutdown Would Cause Tax Filing Nightmare, CPAs Warn IRSThe continuing resolution that's currently funding the IRS expires less than two weeks after tax season starts.
November 22, 2023
IRS Again Delays $600 Reporting Requirement for Venmo Payments, CrowdfundingThe agency will phase in the reporting requirement with a higher threshold in 2024.
November 15, 2023
New Tax Credit Boosts Appeal of Used Electric CarsFor taxpayers who qualify, the Section 25E credit can make buying a used electric vehicle more affordable.
November 10, 2023
13 New Tax Numbers to Know for 2024The newly released updates to brackets, estate exemptions and more reflect another year of persistent inflation.