If it seems like the IRS just announced the 2018 limits, you are not mistaken. Just over a month ago the IRS declared a do over for the 2018 limits, see The IRS Says Never Mind - You Can Have Your Higher HSA Limit! With the...more
I previously blogged about how unusual it was for the IRS to implement a retroactive change to a previously announced limit. As you may remember, the $6,900 limit on HSA contributions for a taxpayer eligible for a family high...more
It is unusual for the IRS to implement a retroactive change to a previously announced limit (whether it be qualified plan limits or HSA limits). Especially when the change is a reduction in the amount that taxpayers can...more
The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2018, and the increased rates reflect...more
The Internal Revenue Service has announced the cost-of-living adjustments for the various qualified retirement plan limits. A few of the limits shown below remain unchanged from last year, but others have increased....more
10/23/2017
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403(b) Plans ,
Compensation & Benefits ,
Cost-of-Living Adjustment (COLA) ,
Department of Health and Human Services (HHS) ,
Employee Contributions ,
Individual Retirement Account (IRA) ,
IRS ,
Qualified Benefit Plans ,
Qualified Retirement Plans ,
Retirement Plan ,
Social Security Taxes ,
Wage and Hour
As much as I love tax law, filling out another tax form isn’t high on my list of fun things to do. So when the IRS issues a form that isn’t legally required to complete, should you? If you are an employer that provides one or...more
The Internal Revenue Service on May 5th announced the cost-of-living adjustments for the HSA contribution limits and for High Deductible Health Plan (HDHP) deductibles and out-of-pocket maximums for 2018....more
The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2017, and the reduced rates reflect...more
Late each October, the IRS gets around to announcing the cost of living adjustments for qualified plans for the upcoming year. This year was no exception, and here they are [Plan Limits]. Unlike last year, 2017 brings some...more
The Internal Revenue Service has announced the cost-of-living adjustments for the various qualified retirement plan limits. Some of the limits shown below remain unchanged from last year, but others have increased....more
Effective tomorrow, September 2, 2016, new IRS final regulations will take effect which provide that for federal tax purposes, the terms “spouse,” “husband,” and “wife” mean an individual lawfully married to another...more
The Internal Revenue Service on April 29th announced the cost-of-living adjustments for the HSA contribution limits and for High Deductible Health Plan (HDHP) deductibles and out-of-pocket maximums for 2017....more