Health Savings Accounts: An Often-Overlooked Tax Savings
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Health Savings Accounts: An Often-Overlooked Tax Savings

For certain taxpayers, such as high-income employees, it is challenging to find ways to reduce federal tax liabilities proactively. Since high-income employees often have sufficient cash to fund out-of-pocket medi... Thomas Gorczynski, EA, USTCP

Correcting Partnership Returns After the Centralized Partnership Audit Regime
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Correcting Partnership Returns After the Centralized Partnership Audit Regime

Practitioners who make or find errors on a filed Form 1065 for their partnership clients may find themselves in for a bit of a shock when it comes to correcting those errors. Congress passed the Bipartisan Budget Act (BBA) of ... David Woods, EA

Notice 2020-51: The How-To Guide on Waiving and Rolling Over 2020 RMDs
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Notice 2020-51: The How-To Guide on Waiving and Rolling Over 2020 RMDs

The IRS released Notice 2020-51 on June 23, 2020, in an effort to answer outstanding questions surrounding the waiver of required minimum distributions (RMDs) from retirement plans for 2020 brought about by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The ... Jennifer Kiffmeyer, JD