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    Month: July 2023

    Special Relief for Certain RMDs

    The IRS recently issued Notice 2023-54, which provides two separate types of relief related to certain required minimum distributions (RMDs). The two areas are unrelated to each other. IRA Owners Born in 1951 For the first area of relief, the notice provides relief for IRA owners who were born in 1951. Such individuals reach age 72 during 2023, and they would have been required to start tak...

    Updating E-file Registration for W2s

    As discussed in our posts during June 2023, the threshold for the e-file mandate for Forms W2 and 1099s has been reduced to 10 returns (from the previous threshold of 250 returns) effective for the 2023 tax year and subsequent years. Practitioners may need to update their registration to e-file Forms W2, through the Business Services Online (BSO) system with the Social Security Administration....