Significant changes to the IRS's 1099-K reporting thresholds are on the horizon, affecting anyone who uses payment apps or online marketplaces. Starting in 2024, more of your transactions could be...
The IRS reminds IRA owners aged 70½ and older that they can make up to $105,000 in tax-free charitable donations through Qualified Charitable Distributions (QCDs) in 2024, an increase from...
(authored by RSM US LLP) The IRS has announced an effort to combat related party basis shifting transactions that lack economic substance....
(authored by RSM US LLP) The IRS is entering a new stage of Employee Retention Credit claim processing. The September 2023 moratorium continues, and claims filed before then are being...
The proposed IRS regulations on Donor-Advised Funds introduce potential shifts in how these funds are managed. With possible retroactive effects and new compliance hurdles on the horizon, the time to...
(authored by RSM US LLP) IRS Grants disaster relief to Texas taxpayers located in certain counties. Affected taxpayers have until Nov. 1, 2024, to file returns and make payments....
Many of our tax accountants have observed that clients are experiencing smaller refunds for 2023, with 2024 withholding amounts also showing a reduction compared to last year. The IRS has...
Understand the IRS's new e-filing system for Form 8300, designed to simplify the reporting of cash transactions over $10,000. Learn who must file, the e-filing requirements, and how to apply...