As we approach year end, now is a good time to review the changes in business tax provisions including those provisions that have expired in 2016 and future years and provisions that began in 2017.
As we are nearing the end of 2017 it’s a good time to review the changes to the IRS tax provisions. Below details some of the most prevalent provisions that expired in 2016, the provisions which have been permanently extended, and other extended tax provisions.
On September 27th, the Trump Administration, along with the House Ways and Means Committee and the Senate Committee on Finance released a unified framework for fixing our tax system.
Health Savings Accounts (H.S.A.s) are powerful tools, particularly if you participate in a high deductible health insurance plan.
In accordance with President Trump’s executive order calling on agencies to ease up on ACA (Obamacare) regulations, the IRS made changes whereby it will not reject a 2016 tax return for processing just because the taxpayer does not indicate their coverage status in Box 61.
On December 13, 2016, President Obama signed into law the “21 Century Cures Act”.
For a while we have heard talk about ACA mandates.