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Monthly Archives: December 2010
Tax Season Starts on Time for Most Taxpayers; Those Affected by Late Tax Breaks Can File in Mid- to Late February
Following last week’s tax law changes, the Internal Revenue Service announced today the upcoming tax season will start on time for most people, but taxpayers affected by three recently reinstated deductions need to wait until mid- to late February to … Continue reading
Posted in Individual, Taxation
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In 2011, Many Tax Benefits Increase Slightly Due to Inflation Adjustments
In 2011, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today. These inflation adjustments relate to eight tax provisions that were either modified or extended by the Tax … Continue reading
Posted in Taxation
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IRS Offers New Guidance on FSA and HRA Debit Cards
The Internal Revenue Service issued new guidance allowing the continued use of health flexible spending arrangement (FSA) and health reimbursement arrangement (HRA) debit cards for the purchase of prescribed over-the-counter medicines and drugs. The new guidance modifies previous guidance to … Continue reading
Posted in Individual, Taxation
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