Every taxpayer has a set of fundamental rights and the IRS has an obligation to protect them. The Taxpayer Bill of Rights groups the taxpayer rights found in the tax code into 10 categories. Know these rights when interacting with the IRS. (more…)
Archive for September, 2017
Taxpayers who are divorcing or recently divorced need to consider the impact divorce or separation may have on their taxes. Alimony payments paid under a divorce or separation instrument are deductible by the payer, and the recipient must include it in income. Name or address changes and individual retirement account deductions are other items to consider.
Health care costs continue to be in the news and on everyone’s mind. As a result, tax-friendly ways to pay for these expenses are very much in play for many people.
The three primary players, so to speak, are Health Savings Accounts (HSAs), Flexible Spending Arrangements (FSAs) and Health Reimbursement Arrangements (HRAs). (more…)