Frequently asked questions related to new, previously-owned and qualified commercial clean vehicle credits PDF FS-2022-42, December 2022 — This Fact Sheet issues frequently asked questions related to new, previously-owned and qualified commercial clean vehicle. Frequently asked questions about Form 1099-K PDF FS-2022-41, December 2022 — This Fact Sheet issues frequently asked questions about Form 1099-K. Frequently asked…
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IRS reminds those over age 72 to start withdrawals from IRAs and retirement plans to avoid penalties
WASHINGTON — In a continuing twist on a common scam, the Internal Revenue Service, state tax agencies and tax industry today warned tax professionals to beware of evolving phishing scams that use various pandemic-related themes to steal client data. The Security Summit partners continue to see instances where tax professionals, especially those who engage in remote transactions,…
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IRS reminds those over age 72 to start withdrawals from IRAs and retirement plans to avoid penalties
WASHINGTON — The Internal Revenue Service today reminded those who were born in 1950 or earlier that funds in their retirement plans and individual retirement arrangements face important upcoming deadlines for required minimum distributions to avoid penalties. Required minimum distributions, or RMDs, are minimum amounts that many retirement plan and IRA account owners must generally…
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Tax season alerts and planning ahead for 2023
Taxpayers face a number of issues due to critical tax law changes that took place in 2021 and ongoing challenges related to the pandemic. The IRS continues to share updated information for people now filing their 2021 tax returns and those planning for the 2022 return they will file next year, as well as anyone…
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