Health Savings Accounts (HSAs) are a type of medical savings account that allows eligible individuals to make deductible contributions and withdraw tax-free disbursements for the payment of eligible medical expenses. Each year the IRS evaluates the limitation amounts on HSA deductions based for inflation.
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The IRS recently announced a 6 year plan to update and modernize its information technology systems and infrastructure. The move will bring much needed resources to an agency beleaguered by nearly a decade of consecutive budget cuts. 
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As the responsible party on employer identification number (EIN) applications, effective May 13, 2019, the IRS will only accept EIN applications from individual taxpayers who have either a Social Security number or individual taxpayer identification number.
On Friday, March 22, 2019, the Treasury and IRS announced they have lowered the withholding underpayment penalty threshold to 80%. This means that taxpayers who were 80% or less under-withheld on their income tax withholding or quarterly tax payments may qualify for relief.
The IRS recently issued a warning to taxpayers who are seriously delinquent on their tax debt – you may be unable to attain a new passport or renew your existing one. read more…
You check your mail and you see the return address, IRS. Your first thought? Well, that can’t be good. You open up the letter and you read that you’re being audited. Look on the bright side – less than 1% of returns get audited each year, you’re just one of the lucky ones! All jocularity aside, there’s nothing to panic about. read more…
First, a joke about catch up…
“Three tomatoes are walking down the street…papa tomato, mama tomato and baby tomato. Baby tomato starts lagging behind and papa tomato gets really angry, goes back and squishes him and yells… CATCH UP!!!!”
That joke isn’t going to get a lot of laughs at the IRS (alright, I admit it won’t get laughs 
anywhere else either) as they try to get caught up after the longest government shutdown in U.S. history. The shutdown, which lasted 35 days and affected the majority of the IRS’s workforce, has had a profound impact on an agency that had already been running very lean. read more…
Effective January 1, 2018, new rules took effect for partnership taxpayers. These “Partnership Audit Rules” affect how taxes (as well as penalties and interest) are assessed when a partnership has been audited by IRS.
Previously, we shared how the Whitehouse stated there would be no disruption to tax filing or the issuance of refunds.
On Tuesday, the IRS shared some details of its revamped contingency plan for operations during the government shutdown. read more…
On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law after the Senate and House passed the bill on July 1 and July 3, respectfully. The OBBB includes numerous tax changes, including permanent and limited modification of many tax...
On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law after the Senate and House passed the bill on July 1 and July 3, respectfully. The OBBB includes numerous tax changes, including permanent and limited modification of many tax...
On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law after the Senate and House passed the bill on July 1 and July 3, respectfully. The OBBB includes numerous tax changes, including permanent and limited modification of many tax...
Ohio’s annual sales tax holiday has arrived. This year’s weekend-long temporary tax break began on Aug. 1 at midnight and will end on Aug. 14 at 11:59 p.m. Initially introduced in 2019 to provide relief for families preparing for the back-to-school season, the sales...
The sales and use tax rate for Brown County (08) will decrease from 7.25 percent to 7 percent, effective Oct. 1, 2025.Please visit the Ohio Department of Taxation’s website at tax.ohio.gov or contact your Zinner and Company Tax Team member with any questions...
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