Genetic testing added to growing list of deductible expenses In recent years when presented with the opportunity, the Internal Revenue Service (IRS) has identified a number of expenses as qualifying medical expenses for purposes of the itemized deduction for medical expenses or for qualified distributions from health savings accounts or flexible spending accounts.
Medical Expense Deduction for Genetic Testing Read More »
In New Jersey, the Senior Freeze Program reimburses eligible senior citizens and disabled persons for property tax or mobile home park site fee increases on their principal residence. To qualify, you must meet all the eligibility requirements for each year from the base year through the application year (the current application year is 2018).
NJ Senior Freeze Property Tax Reimbursement Read More »
The Internal Revenue Service announced today the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions.
IRS Settlement for Micro-Captive Insurance Schemes Read More »
The Internal Revenue Service announced the opening of the application period for the 2020 Compliance Assurance Process (CAP) program.
IRS Expands the Compliance Assurance Process for 2020 Read More »
The Treasury Department and the Internal Revenue Service released final regulations and additional proposed regulations under section 168(k) of the Internal Revenue Code on the new 100% additional first year depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service by the business.
Business Depreciation Ruling from the IRS Read More »