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All work and no play makes for a very long day. Take a break and play a couple fun games. Don’t forget to get back to work though as they can be ‘too’ much fun. Downloadable and play online versions available for you to enjoy.
The IRS is sending money to taxpayers for various reasons: Unemployment benefits erroneously reported as income. Some taxpayers may have filed their 2020 income tax returns before Congress enacted an exclusion of up to $10,200 for unemployment benefits received last year, provided modified adjusted gross income was under $150,000. The IRS has begun to issue [...]
In response to the COVID-19 pandemic, the Consolidated Appropriations Act, 2021 (CAA) and the American Rescue Plan Act (ARPA) made two important changes in dependent care assistance plans (DCAPs) offered by many employers. For the 2021 taxable year, ARPA increased the exclusion limit for dependent care benefits to $10,500, up from the usual limit of [...]
The IRS announced next year’s contribution limits for health savings accounts (HSAs), as well as requirements for high-deductible health plans (HDHPs) to which HSAs must be linked (Rev. Proc. 2021-25). It also announced the limit for Excepted Benefit Health Reimbursement Arrangements (EBHRAs) for 2022. HSAs. For 2022, the maximum deductible contribution to an HSA is [...]
That was the issue before the Tax Court. The estate initially reported the value of his image and likeness at $2,105 on the estate tax return. At trial, the estate’s expert said it was $3.1 million. The IRS contended it was $161.3 million. Each side had experts argue about the potential future revenue stream from [...]