IRS
Latest News
IRS Updates Clean Vehicle Tax Credit FAQs
Wolters Kluwer Acquires European Tech Portfolio, Including CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin
IRS Chief Receives NATP’s Inaugural Vanguard Award
Growth Seen in Pilot Program that Reduces Barriers to Finishing CPA Licensure Education Requirement
![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2023/01/401k-and-IRA-nest-eggs-768x512.jpg)
New Law Boosts Catch-Up Retirement Contributions
New legislation dubbed “SECURE Act 2.0,” a follow-up to the 2019 SECURE Act, provides several enhancements, on top of inflation indexing already in place for certain plans.
![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/10/tax-deductions.jpg)
6 SECURE Act 2.0 Changes to Plan for in 2023
With the act containing upward of 100 new retirement provisions, here are six of the most notable changes taking effect this year.
![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/08/retirement_accounts.jpg)
Highlights of SECURE Act 2.0 for Individuals
SECURE Act 2.0 includes numerous significant provisions affecting individual retirement savers. Following is a brief roundup of several key changes.
![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2023/01/1099-form-illustration-768x626.jpg)
IRS Opens Free Online Portal for Businesses to File 1099 Forms
The Information Returns Intake System is expected to reduce the amount of paper Forms 1099 filed in 2023.
![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2023/01/income-taxes-small-business_11427517.jpg)
Highlights of the SECURE Act 2.0 for Businesses
The new SECURE Act 2.0, enacted late last year as part of a spending measure, features several notable provisions affecting individuals saving for retirement.
![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2023/01/BIZ-AUTO-EV-TAX-CREDIT-SENATE-GET-768x512.jpg)
Manchin Floats Bill to End EV Tax Credits for Unqualified Cars
Treasury missed a Dec. 31 statutory deadline to release proposed rules for the new credits.
![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2023/01/cryptocurrencies-768x512.jpg)
IRS to Use ‘Digital Assets’ Instead of ‘Virtual Currency’ on 2022 Forms 1040
A question regarding digital assets must be answered by all taxpayers on their 2022 income tax returns.
![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2023/01/teacher-in-classroom-768x512.jpg)
Will the Increase in the Teacher Tax Deduction Really Help Educators Much?
Tax pros and educators agree: Even with this year’s increase from $250 to $300, the deduction falls short.