Although the IRS often finds and corrects errors during processing, there are certain situations in which a taxpayer may need to file an amended return to make a correction. Here are some quick tips for anyone who discovered they made a mistake or forgot to include...
On May 4, 2017, the Treasury Department and the IRS released Revenue Procedure 2017-37, which stated that the maximum contribution to an HSA for an individual with family coverage under a high deductible health plan would be $6,900 for 2018. On March 2, 2018, the...
When the formal tax reform process began during the second half of 2017, the key goals were to simplify the tax code, eliminate certain unpopular taxes, reduce taxes for the middle class and significantly reduce the corporate tax rate. In the end, we have the Tax Cuts...
The uncertainty surrounding potential tax law changes has dominated headlines in the past few weeks. While the tax landscape for 2018 is still up in the air, we know what the laws are for 2017 (assuming none of the potential changes are made retroactively, which...
Just as it sounds, a stretch IRA is a minimum withdrawal strategy designed to “stretch” the period over which earnings can be tax-deferred. This is a popular tax mitigation technique with inherited or “Beneficiary” IRAs. Essentially, the IRS allows you to take minimum...