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QUALIFIED CHARITABLE DISTRIBUTIONS:
Individuals age 70 ½ or older may be able to exclude a qualified charitable distributio

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IRS HELPS TAXPAYERS BY PROVIDING PENALTY RELIEF ON NEARLY 5 MILLION 2020 AND 2021 TAX RETURNS:
In a major step to help people who owe back taxes, the Internal Revenue Service has

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ICYMI: NEW VOLUNTARY DISCLOSURE PROGRAM FOR EMPLOYEE RETENTION CREDITS PAYBACK AT DISCOUNTED RATE DUE BY MARCH 22, 2024:
As part of an ongoing initiative aimed at combating dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service has launched a new

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IRS ANNOUNCES NEW LEADERSHIP STRUCTURE:
Internal Revenue Service Commissioner Danny Werfel has announced plans for a new leadership structure at the agency, a step designed to reflect new transformation goals and update the top of the or

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EMPLOYERS SHOULD CERTIFY EMPLOYEES BEFORE CLAIMING THE WORK OPPORTUNITY TAX CREDIT:
Giving someone a work opportunity may translate into a business tax credit for your client and greater stability for a family.

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ICYMI: IRS ONLINE ACCOUNT ENHANCEMENTS
Taxpayers and Individual Taxpayer Identification Number (ITIN) holders can now access their Online Account and view, approve and elect

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IRS TO PILOT NEW SECURITY SELF-MAILER TO DELIVER IP PINS:
Taxpayers who typically receive a CP01A, We Assigned You an Identity Protection Personal Identification Number (IP PIN), may notice a change in the look of their mailed IP PINs in 2024.

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ICYMI: BUSINESSES CAN FILE FORM 1099 SERIES INFORMATION RETURNS FOR FREE
Business taxpayers can file electronically any Form 1099 series information returns for free with the

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INFORMATION RETURNS FILING THRESHOLD:
Beginning January 1, 2024, the electronic filing threshold for information returns will reduce from 250 documents to 10 for filing season 2024.

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