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...Click here for more
Archive for the ‘2021 Tax Season’ Category.
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...Click here for more