Taxes

Last week I told you about alternative tax thinker Brian Swanson. Others might call Brian a tax protester, which is how Wikipedia refers to someone who claims the tax laws are unconstitutional or otherwise invalid. Less than an hour after I pushed publish I found that two of Brian’s cases had been closed out –

Congress expanded a tax trap for many owners of traditional IRA and 401(k) accounts when the SECURE Act 2.0 was enacted in December 2022. The law delayed the starting age for required minimum distributions (RMDs) to age 73, effective January 1, 2023. The starting age will jump to 75 effective January 1, 2033. If you

More than three years after the COVID-19 pandemic started, returning to the office versus working from home still hasn’t settled down. There’s an ongoing tension around working from home between management’s need for innovation and discipline versus workers’ desires for more flexible arrangements and reduced commuting time. As urbanist and historian Dror Poleg likes to

The IRS has announced more cost-of-living adjustments—these focus on changes affecting health savings accounts (HSAs), high-deductible health plans (HDHPs), and health reimbursement arrangements (HRAs) The details can be found in Revenue Procedure 2023-23. Here’s a summary. HSA For calendar year 2024, the annual HSA contribution limit for taxpayers with self-only coverage under a high-deductible health

The IRS does not need to notify third parties when requesting a summons for banking records in collection matters. That was the decision of the Supreme Court in Polselli v. Internal Revenue Service. Background The case involved taxpayer Remo Polselli who underpaid his federal taxes for many years, resulting in an outstanding balance of more