The IRS is warning the public about a phone scam that targets people across the nation. Callers claiming to be from the IRS tell intended victims they owe taxes and must pay using a pre-paid debit card or wire transfer. The scammers threaten those who refuse to pay with arrest, deportation or loss of a business or driver’s license. – The callers who commit this fraud often: – Use common names and fake IRS badge numbers. – Know the last four digits of the victim’s Social Security number. – Make caller ID appear as if the IRS is calling. – […]
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IRS Releases Inflation-adjusted HSA Figures for 2017 Health Savings Accounts (HSAs) allow eligible individuals to make deductible contributions that can be withdrawn tax-free later to reimburse the individual for eligible medical expenses. For 2017, the limitation on HSA deductions is $3,400 (up from $3,350 for 2016) for an individual with self-only coverage under a High Deductible Health Plan (HDHP) or $6,750 (no change from 2016) for an individual with family coverage. An HDHP is defined under IRC Sec. 223(c) as a health plan with an annual deductible not less than $1,300 (no change from 2016) for self-only coverage or $2,600 […]
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Do you have 10, 20, 30 years worth of bank records, receipts, or other documentation? How long is long enough to keep this information? There’s no cut and dry answer and the answer depends on several factors. Follow the link below to help answer those questions! How long should I keep records?
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