IRS
Industry & Regulatory News
IRS Announces Deadline Relief for Mississippi Severe Storms, Straight-line Winds, and Tornadoes
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, and tornadoes in Mississippi.
Industry & Regulatory News
Hardship Distributions May Be Permitted for Mississippi Severe Storms, Straight-line Winds, and Tornados
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 26, 2023, for severe storms, straight-line winds, and tornados in Mississippi, for the incident period of March 24, 2023, to March 25, 2023.
Industry & Regulatory News
IRS Announces Deadline Relief for New York Severe Winter Storm and Snowstorm
The IRS has announced the postponement of certain tax-related deadlines for victims of severe winter storms and snowstorms in New York.
Industry & Regulatory News
Hardship Distributions May Be Permitted for Maine Severe Storm and Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 22, 2023, for severe storm and flooding in Maine, for the incident period of December 23, 2022 – December 24, 2022.
Industry & Regulatory News
IRS Provides Indexing for Employer Shared Responsibility Payments
The IRS has issued Revenue Procedure 2023-17 announcing the 2024 indexed adjustments to the amounts used to calculate employer shared responsibility payments under Internal Revenue Code Sections 4980H(a) and 4980H(b)(1).
Industry & Regulatory News
Hardship Distributions May Be Permitted for Vermont Severe Storm and Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 20, 2023, for severe storm and flooding in Vermont, for the incident period of December 22, 2022, to December 24, 2022.
Industry & Regulatory News
IRS Intends to Issue Guidance on Certain NFTs as Collectibles
The IRS has issued Notice 2023-27, announcing their intent to issue guidance related to the treatment of certain nonfungible tokens (NFTs) as collectibles under Internal Revenue Code Section (IRC Sec.) 408(m).
Industry & Regulatory News
IRS Announces Deadline Relief for California Severe Storms, Flooding and Landslides
The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding, and landslides in California.
Industry & Regulatory News
IRS Posts Wellness Expense Reimbursement FAQs
The IRS has posted a series of frequently asked questions addressing whether certain costs related to nutrition, wellness, and general health are medical expenses under Internal Revenue Code Section 213 that may be paid or reimbursed under a health savings account, health flexible spending arrangement, Archer medical savings account, or health reimbursement arrangement.
Industry & Regulatory News
Hardship Distributions May Be Permitted for New Hampshire Severe Storm and Flooding
The Federal Emergency Management Agency (FEMA) issued a disaster declaration on March 15, 2023, for severe winter storm and flooding in New Hampshire, for the incident period of December 22, 2022, to December 25, 2022.