We are closing in on the 180-day claim period for the 2017 Biodiesel and Alternative Fuel Incentives so we wanted to add transparency to those dates and what you need to know. The IRS has recently issued Notice 2018-21 which provides rules claimants must follow to make a one-time claim for payment of the credits… Continue Reading
Archives for March 2018
The “Fix” Is In! A Revision To Sec. 199A Has Been Made
As of today, March 23rd, 2018, the revision of Sec. 199A has been signed. The omnibus government-funding bill recently proposed in the House of Representatives contains amendments to Section 199A. Specifically, the proposed legislation amends the definition of “qualified business income (QBI)” by striking the exclusion for “qualified cooperative dividends.” This amendment replaces the current… Continue Reading
Do my Children Qualify for the Child Tax Credit?
At Christianson, we often get similar questions from our clients that we feel should be addressed on a larger scale. We believe that the question may be something that is asked universally, and not just in our office. The Child Tax Credit is a topic of discussion, especially now that the recent Tax Reform Bill… Continue Reading
Sec. 199A “Grain Glitch” Fix Proposed
Sec. 199A “Grain Glitch” Fix Proposed In January, we announced a change in the Tax Reform Bill that had a very large impact on the agriculture industry, with the heaviest of the impact placed on cooperatives and private grain firms. This change was Sec. 199A. A few weeks after sharing that article, while anxiously anticipating… Continue Reading
Deadline for Retirement Plan Distributions Approaching!
When do I have to Take My My First Retirement Plan Deduction? After you turn 70.5, you typically start receiving the required minimum distributions (RMD) from your retirement plans, individual retirement accounts (IRAs), and from employer-provided retirement plans. If you turned 70.5 in the year 2017, we want to remind you that APRIL 1st is… Continue Reading
IRS Lowers 2018 Family HSA Contribution Limit by $50
The IRS has released a change to HSA contribution limits linked to family coverage for 2018 that will impact anyone with a high-deductible family plan who is making the maximum contribution to their HSA account. What do the HSA Contribution Limits Look Like Now? In 2018, the HSA contribution limit linked to family coverage, which… Continue Reading
