Displaying 39 results
IRS wants to streamline tax disputes with new focus on alternative programs
Alternative Dispute Resolution Program Management Office formed.
Once again, IRS waives RMDs for beneficiaries subject to the 10-year rule
The new relief on required minimum distributions for this year builds on previous IRS relief for RMDs in 2021, 2022 and 2023.
Nearly half of US filers put off tax prep
A survey of more than 1,000 US adults offers glimpses of tax stress and procrastination as the April filing deadline looms.
James Caan estate case highlights rollover rules advisors need to know
An offer the IRS refused! The estate owes nearly $1 million in taxes and penalties.
IRS sitting on $1B that should be in 940,000 Americans’ bank accounts
And the refunds may be missed forever if an upcoming deadline is missed.
Planning your tax payment strategy
Helping clients put a solid plan in place for paying their tax liability can make the annual tax process less painful for many.
Industry awaits an answer on proposed donor-advised fund regulations
Last November, the IRS proposed regulations that would fundamentally redefine DAFs.
Taxpayers reveal plans for refunds as IRS confirms $93B has already been paid
Most people are expecting a refund, and they could be getting more than they think.
IRS targets those with high incomes who haven’t filed tax returns, some since 2017
The amount of unpaid tax is estimated to be hundreds of millions of dollars.
Latino roots at heart of financial planner’s message
Childhood experiences still resonate for Louis Barajas who set out to ‘change the world’ in his community.
Wrong birthday info led to $130K in RMD penalties, plaintiffs say
A Wells Fargo client who was born in 1939 had his birthdate incorrectly recorded as 2001, according to a lawsuit.
How much can your clients add to their 401(k) and other plans in 2024?
IRS announces increased contribution limits for retirement savings plans.
How to unravel complicated 2023 RMD rules
It’s no simple task to determine which clients are subject to required minimum distributions this year, and which aren’t.
Wealthy tax dodgers targeted by IRS new agent hires
Tax officials will focus on high earners and corporations that are not paying their fair share.
Advisors confident wealthy clients will avoid IRS crackdown
Most HNW individuals are compliant because they have quality advisors who know the law and how to follow it correctly, says one advisor.
IRS catch-up guidance a relief to 401(k) sponsors, advisors
Plans now have until 2026 to add Roth accounts that will allow high earners to make catch-up contributions.
IRS delays mandatory Roth catch-up provision until 2026
Agency announces needed SECURE 2.0 relief related to catch-up contributions made by higher-income employees.
IRS probes wealthy in Malta tax scheme but they’re not the target
Tax experts believe the investigation of wealthy Americans is ultimately designed to snare the promoters.
In surprise announcement, IRS says it will stop unannounced tax visits
Knock, knock, who’s there? Not the IRS anymore — at least not without an appointment.
Millionaire tax evaders be warned, the IRS says it’s coming for you
Internal Revenue Service says it is only just at the start of cracking down on those who try to hide their income or refuse to pay the taxes they owe.
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