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IRS Information Letter Explains Requirements for Expenses to …

WEBThe IRS has released an information letter regarding the requirements for expenses to qualify as medical care under Code § 213. The letter responds to a request …

Actived: 1 days ago

URL: https://tax.thomsonreuters.com/blog/irs-information-letter-explains-requirements-for-expenses-to-qualify-as-medical-care/

Understanding the advantages and risks of AI usage in healthcare

WEBThe use of AI in healthcare continues to gain momentum with studies confirming its effectiveness in diagnosing some chronic illnesses, increasing staff …

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IRS Issues 2022 Versions of Publications 502 and 503 for Medical …

WEBThe IRS has released updated versions of Publications 502 and 503 for the 2022 tax year. Publication 502 describes the medical expenses that are deductible by …

Category:  Medical Go Health

Understanding the premium tax credit extension

WEBOn August 16, 2022, the Inflation Reduction Act was signed into law by President Biden. Included in this legislation is a section aimed at improving affordability …

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Enter health insurance for partners

WEBEnter health insurance for partners. screens. screen. UltraTax CS automatically includes this amount as a guaranteed payment deduction on the related activity. The amounts …

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What does wellness mean for lawyers

WEBOccupational wellness is a subset of wellness. It refers to the practice of improving one’s well-being in the workplace. Some critical aspects of one’s health, of …

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IRS Reminder: Personal Expenses for General Health and Wellness …

WEBThe IRS has issued a news release reminding taxpayers and administrators of health FSAs, HRAs, HSAs, and MSAs that personal expenses for general health and …

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REPRESENTING THE INNOCENT SPOUSE

WEBequitable relief. This section of the article discusses each type of relief in detail, and how the recently proposed regulations affect requests for innocent spouse relief.

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Thomson Reuters 2021 Annual Report

WEBThomson Reuters Annual Report 2021. Table of Contents . Business .. 2 Overview 2 Customer Segments 6 Legal Professionals 6 Corporates 7 Tax & Accounting …

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Can an Adult Child’s Medical Expenses Be Reimbursed Tax-Free …

WEBDistributions from a parent’s HSA that reimburse a nondependent adult child’s medical expenses are taxable and may be subject to an additional 20% tax. …

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Thomson Reuters Reports First-Quarter 2024 Results

WEBTORONTO, May 2, 2024 – Thomson Reuters (TSX/NYSE: TRI) today reported results for the first quarter ended March 31, 2024:. Revenue momentum continued in the …

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4 tips to prioritize advisory firm staff mental health

WEBMay is Mental Health Awareness Month, an opportunity for advisory firms to prioritize well-being. Here are four ways to invest in healthy behaviors.

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How Long Are the Extended Claims and Appeals Time Periods …

WEBThe extension permits the “outbreak period”—beginning March 1, 2020, and ending 60 days after the announced end of the COVID-19 emergency—to be …

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IRS Issues 2021 Versions of Publications 502 and 503 for Medical …

WEBPublication 503. The IRS has released updated versions of Publications 502 and 503 for the 2021 tax year. Publication 502 describes the medical expenses that are …

Category:  Medical Go Health

What Is the Difference Between a Grandfathered and a …

WEBThe grandfathered plan rules apply separately to each benefit package (e.g., PPO or HMO) made available under a group health plan. If grandfathered status is lost, …

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IRS Issues Comprehensive Guidance on QSEHRAs

WEBThe IRS has issued comprehensive guidance on qualified small employer health reimbursement arrangements (QSEHRAs). QSEHRAs are a type of HRA that …

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IRS Releases 2021 Form 8889 and Instructions for HSA Reporting

WEBInstructions. The IRS has released the 2021 version of Form 8889 (Health Savings Accounts (HSAs)) and its instructions. HSA holders (and beneficiaries of …

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IRS Releases 2020 Form 8889 and Instructions for HSA Reporting, …

WEBThe IRS has released the 2020 version of Form 8889 (Health Savings Accounts (HSAs)) and its instructions, and has updated Publication 969 (Health Savings …

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What Happens to the Funds in an HSA After the Account Holder …

WEBANSWER: Upon the death of an HSA account holder, any amounts remaining in the HSA transfer to the beneficiary named in the HSA beneficiary …

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IRS Form 5329: What it is and how to complete it

WEBWhen filing tax returns, it’s important to report all income sources accurately. For accountants, you must also remind your clients that early distributions from qualified …

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How are LLCs taxed

WEBThe QBI is deducted from a business’s net profit minus capital gains/losses, dividends, or interest income. As of 2024, a single filer who earns less than $191,950 …

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Draft of April 2024 Version of Form 941-X and Instructions Released

WEBThe IRS released drafts of Form 941-X and its instructions with an April 2024 revision date. Form 941-X. Employers use Form 941-X to correct errors on a Form 941 …

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