Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 15, 2023 – May 19, 2023. May 15, 2023: The IRS.
Tax Tip 2023-67, announcing that tax relief is available for people living in areas that are declared disasters by the Federal Emergency Management Agency. IRS released Revenue Procedure 2023-23, which provides the 2024 inflation-adjusted amounts for Health Savings Accounts
Notice;convertible virtual currency should be treated as property for federal tax purposes and general tax principles applicable to property transactions apply to transactions using convertible virtual currency. Revenue Procedure 2023-22 deals with mortgage bond issuers