Monthly Archives: July 2019

IRS Raises HSA Contribution Limits in 2020 by Adam Cohen, CPA

Posted on July 26, 2019 by Adam Cohen

Taxpayers who participate in high-deductible health insurance plans will be able to save a little more in their Health Savings Accounts (HSAs) in 2020, when contribution limits will increase to $3,550 for individuals or $7,100 for family coverage, up from their 2019 limits of $3,500 and $7,000 respectively. This 1.4 percent increase represents significant benefits […]

Taxpayer Scams Don’t Stop During the Summer by Joseph C. Leuchter, CPA

Posted on July 23, 2019 by Joseph Leuchter

As Americans enjoy their summer vacations, criminals remain hard at work devising new scams to steal taxpayers’ identities and intercept their tax refunds. The IRS reminds taxpayers to stay alert to tax-related schemes throughout the year, even after the April tax filing deadline. Most criminals conduct their scams via email and telephone, posing as agents […]

IRS Urges Taxpayers to Renew Expiring ITINs by Guillermo Campos, CPA

Posted on July 17, 2019 by Guillermo Campos

Millions of U.S. taxpayers who are not eligible for Social Security numbers will need to take action before the end of 2019 to renew the now expired Individual Taxpayer Identification Numbers (ITINs) the IRS issued to them for reporting and paying their U.S. tax obligations. The IRS will begin sending notices this summer to affected […]