2016 Inflation Adjustments for Tax Benefits Announced
For tax year 2016, the Internal Revenue Service today announced annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2015-53 provides details about these annual adjustments. The tax items for tax year 2016 of greatest interest to most taxpayers include the following dollar […]
Tax Breaks for Disabled – 25th Anniversary of ADA
Sunday, July 26th was the 25th anniversary of the Americans With Disabilities Act (ADA), and the Internal Revenue Service is marking the occasion by highlighting a number of tax benefits and services that can help taxpayers with disabilities. ABLE Accounts This new program was passed by Congress in December. Under the law, states can offer […]
Tax Benefits for Military Members
Did you know May is National Military Appreciation Month? The IRS wants military members and their families to know about the many tax benefits available to them. Tax benefits for service members include: Partly or fully tax-free combat pay. You can exclude certain pay from your income if you are a member of the U.S. […]
