Use Health Flexible Spending Arrangements in 2016

(Source: IR-2015-126, Nov. 12, 2015) WASHINGTON — The Internal Revenue Service today reminded eligible employees that now is the time to begin planning to take full advantage of their employer’s health flexible spending arrangement (FSA) during 2016. Plan now to use health flexible spending arrangements in 2016; contribute up to $2,550; a $500 carryover option […]

Five Easy Ways to Spot a Scam Phone Call

(Source: IRS Special Edition Tax Tip, September 2, 2014) The IRS continues to warn the public to be alert for telephone scams and offers five tell-tale warning signs to tip you off if you get such a call. These callers claim to be with the IRS. The scammers often demand money to pay taxes. Some […]

Tips from IRS for Year-End Gifts to Charity

(Source: IRS Newswire, Issue Number IR-2015-134, November 25, 2015) WASHINGTON — The Internal Revenue Service today reminded individuals and businesses making year-end gifts to charity that several important tax law provisions have taken effect in recent years. Some of the changes taxpayers should keep in mind include: Rules for Charitable Contributions of Clothing and Household […]

IRS Tax Tips for Deducting Gifts to Charity

(Source: IRS Special Edition Tax Tip 2015-20, November 24, 2015) The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you give. For instance, you must itemize your deductions. Here are […]

Tax Preparedness Series: Make a Wise Choice when Selecting a Tax Preparer

(Source: IRS NewsWire Issue Number: IR-2015-124, November 5, 2015) WASHINGTON — While there is still time before the next tax filing season, choosing a return preparer now allows more time for taxpayers to consider appropriate options and to find and talk with prospective tax preparers rather than during tax season when they’re most busy. Furthermore, […]