by admin | Jun 28, 2023 | Uncategorized
The IRS, as part of the National Small Business week initiative, has urged business taxpayers to begin planning now to take advantage of tax-saving opportunities and get ready for reporting changes that take effect in 2023. The IRS has reminded entrepreneurs that with...
by admin | Jun 28, 2023 | Uncategorized
The IRS has released the 2024 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2024, the annual limitation on deductions under Code Sec. 223(b)(2) for an individual with self-only coverage under a high-deductible plan is...
by admin | Jun 28, 2023 | Uncategorized
The IRS has updated the Allowable Living Expense (ALE) Standards, effective April 24, 2023.The ALE standards reduce subjectivity when determining what a taxpayer may claim as basic living expenses to avoid undue hardship when the taxpayer must delay full payment of a...
by admin | Jun 28, 2023 | Uncategorized
In recognition of National Hurricane Preparedness Week and National Wildfire Awareness month, the IRS reminded taxpayers to have a year round complete emergency preparedness plan to protect personal financial and tax information during disasters....
