An HSA can help you stretch your health care dollars and build your retirement savings at the same time, as long as you’re eligible for one and you spend the money in your HSA on eligible expenses. Here’s a look at the benefits of HSAs and tips for opening one: 1. HSAs are tax-free Putting …
Category: Taxes
More taxpayers qualify for student loan COD relief
The IRS extended its safe-harbor relief from recognizing cancellation-of-debt (COD) income for students whose loans were discharged either because their schools were closed or as a result of some type of fraud (Rev. Proc. 2020-11). The IRS had earlier provided relief for students from Corinthian College or American Career Institutes Inc. whose loans were discharged …
Continue reading More taxpayers qualify for student loan COD relief
2020 Tax Calendar
The following dates are based on the tax year 2019, coming due in 2020. January 15 Individual taxpayers’ final 2019 estimated tax payment is due. January 31 File 2019 Forms W-2 (“Wage and Tax Statement”) with the Social Security Administration and provide copies to your employees. File 2019 Forms 1099-MISC (“Miscellaneous Income”) reporting nonemployee compensation …
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