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Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2017. The only limit that has increased from the 2016 level is for contributions to defined contribution plans, which has gone up by $1,000....

Several significant tax developments happened last year that may affect federal income tax returns that individual and business taxpayers file in 2017. Here’s a quick look at 10 key changes that you should be aware of during this tax season.   1. Stand-Alone HRAs On...

The IRS, along with state tax agencies, renewed their warning about an email scam that uses a corporate officer’s name to request employee W-2 forms from company payroll or human resources departments. The tax agency announced it has received new notifications that the...

In an era of hyper-connectedness and a burgeoning global cybercrime industry, you can’t afford to hope you’ll just be lucky and avoid a successful attack. It’s essential to establish policies and procedures to minimize risk and train employees on how to protect...

Investment interest — interest on debt used to buy assets held for investment, such as margin debt used to buy securities — generally is deductible for both regular tax and alternative minimum tax purposes. But special rules apply that can make this itemized deduction less...

If you’re planning to make significant charitable donations in the coming year, consider a donor-advised fund (DAF). These accounts allow you to take a charitable income tax deduction immediately, while deferring decisions about how much to give — and to whom — until the time is...

The Trump Administration and the Republican majority in Congress plan to repeal and replace the Affordable Care Act (ACA) in the coming months. In the meantime, however, employers must continue to comply with the existing rules for 2016, including the information reporting...

Many employers will be facing more payroll-related changes at the state level this year than they will at the federal level. That’s because the minimum wage in many states was raised January 1 and surpasses the $7.25 federal minimum, which has prevailed since 2009. Other...

The IRS Whistleblower Office is celebrating its 10-year anniversary this year. The office was created under the Tax Relief and Health Care Act of 2006 to oversee the IRS whistleblower program, which is a critical part of overall enforcement and compliance. Since the program...

The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes was made “permanent” a little over a year ago. This break can be valuable to those residing in states with no or low income taxes or who purchase...