This is an important topic that we want to revisit as it is that time of year when the IRS and Iowa Department of Revenue are sending out letters. And while getting one of these letters may be stressful, it isn’t always a reason to worry. Here are some things you need to know if you do receive that letter. Don’t panic. You can usually deal with a notice with a simple response. Most of these notices are about federal tax returns or tax accounts. Each notice has specific instru

Here’s what you need to know about Health Savings Accounts (HSA) for 2018. Eligible individuals may, subject to statutory limits, make deductible contributions to an HSA. Employers, as well as other persons (e.g., family members), also may contribute on behalf of an eligible individual. Employer contributions generally are treated as employer-provided coverage for medical expenses under an accident or health plan and are excludable from income. In general, a person is an “eli

The IRS has a specific way of contacting taxpayers. And sometimes, this is done in person. But the IRS wants you to know what you should expect if you are contacted in person by an IRS agent so that you can avoid being the target of a scam. Types of IRS Contact With continuing phone scams and in-person scams rampant, the IRS wants taxpayers to understand how and when they contact taxpayers and to help them determine whether a contact is truly from an IRS employee. While the I