Archive for the ‘2021 Tax Season’ Category.

Taxpayers Should Renew Expiring ITINs Early To Avoid A Refund Delay Next Year

As we have warned in the past ITIN’s not used at least once every 3 years and 5 years after issuance now expire, the following applies to the 2020 tax year for returns filed in 2021. The later requirement will affect ITINs with middle digits of 88, 90, 91, 92, 94, 95, 96, 97, 98 or 99, i...

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HSA contribution limits increase for 2021

As is usual this time of the year the IRS advises the tax practitioner community and taxpayers of the upcoming 2019 H.S.A. Contribution limits for the upcoming 2020 (done in 2021) tax year. The IRS in Rev. Proc. 2020-32 announced the annual inflation-adjusted limits on deductions for co...

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