IRS is warning taxpayers of a new twist on an old phone scam The IRS is urging taxpayers to remain alert to tax scams year round, but especially immediately following the tax deadline. The Internal Revenue Service is warning taxpayers that criminals are now using a new twist on an old phone scam where criminals… Continue Reading
Archives for 2018
College Savings – What do I do?
What Are The Best Vehicles To Save For College? A college education can be one of the most important investments you ever make. But the benefits of your child’s increased earning power and expanded horizons come at a price — college is expensive. Many families finance a college education with a combination of resources, but… Continue Reading
The HSA Contribution Limit has Changed Again
As many of you read in our previous post about HSA Contribution, in March the IRS announced a reduction to the maximum amount a family could contribute to a health savings account (HSA) in 2018 from $6,900 to $6,850. Just recently the IRS reversed the decision and is declaring that the maximum limit for families… Continue Reading
Congress Reinstates OSLT: How to File Payment for the Oil Spill Tax during Q3 2018.
Congress Reinstates OSLT: How to File Payment for the Oil Spill Tax during Q3 2018. What is the OSLT? The oil spill liability tax (OSLT) expired on December 31, 2017, but was subsequently reinstated for the period from March 1 through December 31, 2018. The cost of the OSLT is calculated at a rate of… Continue Reading
Claiming 2017 Biodiesel and Alternative Fuel Incentives
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
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
