The OBBBA law is long, but the IRS has summarized some of the most significant provisions: No tax on tips Effective for 2025 through 2028, employees and self-employed individuals may deduct qualified tips received in occupations that are listed by the IRS as...
Taxes
IRS Raises HSA Contribution Limits for 2026
The IRS has announced updated Health Savings Account (HSA) contribution limits for 2026. For self-only coverage, the limit will be $4,400, a $100 increase from 2025. For family coverage, the limit will be $8,750, an increase of $200. The catch-up contribution limit...
What taxpayers should do if they get mail from the IRS
IRS sends notices and letters when it needs to ask a question about a taxpayer’s federal tax return, let them know about a change to their account or request a payment. Don’t panic if mail comes from the IRS – they’re here to help. When a taxpayer receives mail from...