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The Internal Revenue Service has revised the question it has asked in recent years about income from digital assets such as cryptocurrency on the Form 1040 for individual taxpayers this tax season and added it for the first time to tax forms for estates, trusts, partnerships and C and S corporations.
January 22 -
The IRS and Labor Department issued guidance on the new savings vehicles, but financial advisors and other wealth management professionals have questions.
January 22 -
The Internal Revenue Service and the Treasury Department told businesses they won't have to report on the digital assets they receive until regulations are issued.
January 16 -
Retirement plan sponsors and their financial advisors receive guidance from the IRS on how the Secure 2.0 Act opened the door for "de minimis financial incentives."
January 16 -
The Internal Revenue Service provided initial guidance to aid employers in establishing pension-linked emergency savings accounts, an outgrowth of the wide-ranging SECURE 2.0 Act of 2022.
January 15 -
In a change that may affect financial advisors and tax professionals' clients, the agency reversed course on a position it took seven years earlier.
January 12 -
The service reported on its increased enforcement efforts on Friday, including collecting over half a billion dollars from millionaires who didn't pay their taxes.
January 12 -
Financial advisors, tax professionals and their customers can recoup 30% of the cost through credits for qualified upgrades to their residences.
January 8 -
Here's a list of Financial Planning's most important stories in the past year involving the vexing array of complexities with paying Uncle Sam.
December 28 -
The Internal Revenue Service has updated its frequently asked questions to offer more guidance on what kinds of components can be used in electric vehicles to qualify for tax credits.
December 27