The IRS has provided the annual inflation-adjusted contribution, deductible, and out-of-pocket expense limits for 2019 for health savings accounts (HSAs). 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 accid

While many people take summer vacations, data thieves do not. Phishing emails and telephone scams continue to pop up around the country. The IRS reminds everyone to be vigilant to avoid becoming a victim. Here are some things for taxpayers to remember so they can keep their personal data safe: THE IRS DOES NOT LEAVE PRE-RECORDED MESSAGES The IRS does not leave pre-recorded, urgent messages asking for a call back. In one scam, the victim is told if they do not call back, a

I know it seems like you just got done filing your 2017 tax return. However, if you need to pay estimated taxes for 2018, the 2nd quarter estimate is due on June 15th for federal and July 2nd for Iowa. Disclaimer: The items included in the Tax Tip Tuesday Video Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation. IRS Circular 230 disclosure: To ensure compliance with requirements impos

As I mentioned in an earlier edition, the Iowa Legislature passed a significant Iowa tax reform bill which Governor Reynolds signed into law last week. Most parts of this large bill are not effective until 2019 or later. Three items included in the bill that are effective for tax year 2018 are now the same as federal law: The above the line deduction for teachers’ education expenses. Tax-Free IRA distributions to certain public charities for individuals who are seventy and o