General News and Information Archives - Page 2 of 40

Nov
17
2020

How the CARES Act changes deducting charitable contributions

How the CARES Act changes deducting charitable contributions | Internal Revenue Service https://bit.ly/3f452rq

Nov
09
2020

Reminder to all taxpayers: Gift cards are not used to make tax payments

Reminder to all taxpayers: Gift cards are not used to make tax payments | Internal Revenue Service https://bit.ly/2UbLuIa

Nov
05
2020

IRS provides tax inflation adjustments for tax year 2021

IRS provides tax inflation adjustments for tax year 2021 | Internal Revenue Service https://bit.ly/2HVREJi

Nov
03
2020

HBL CPAs wears purple in support for survivors of domestic violence. Wear Purple Day! HBL CPAs shows its support for EMERGE! and their efforts in bringing awareness throughout our community to help end domestic violence.

Nov
02
2020

2021 Federal gift and estate tax exemption

The 2021 federal gift and estate tax exemption will be increasing by $120,000 to $11,700,000. The amount currently is $11,580,000. The Tax Cuts and Jobs Act doubled the exemption base amount from $5 million to $10 million, with the amount indexed for inflation. Be aware that although the doubled amount will continue to be adjusted annually for inflation, it expires after 2025. Without further legislation, the gift and estate tax exemption will return to an inflation-adjusted $5 million in 2026.

Jun
23
2020