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Top 4 internal revenue service News Today

#1
IRS releases health savings account expansion details under Trump's 'big beautiful bill'
#1 out of 4
health1d ago

IRS releases health savings account expansion details under Trump's 'big beautiful bill'

  • Trump calls for changes to health savings accounts to broaden access and benefits.
  • The proposals are part of a broader health policy push ahead of 2025 policy talks.
  • Officials emphasize HSAs as a tool to improve affordability and consumer choice.
  • The plan could include tax advantages to incentivize savings for medical costs.
  • The remarks come as part of Trump’s ongoing posture on healthcare reform.
  • No final legislative details were released in the initial briefing.
  • The discussion highlights political dynamics around health policy in 2025.
  • The source notes potential alignment with broader fiscal and regulatory goals.
  • Analysts will watch for updates on how HSAs interact with employer plans.
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#2
'AITA for telling my mom/boss that if she files me as a 1099, I’m filing an SS-8 with the IRS?'
#2 out of 416.3K est. views
business19h ago

'AITA for telling my mom/boss that if she files me as a 1099, I’m filing an SS-8 with the IRS?'

  • A family business dispute centers on whether the worker is an employee or an independent contractor, risking tax misclassification.
  • The worker warns she will file Form SS-8 with the IRS to determine her correct status if misclassification continues.
  • The employer allegedly hints at past unreported cash income, complicating the misclassification dispute.
  • Experts and commenters on Reddit explain Form SS-8 and Form 8919 can protect the employee but don’t fully erase tax obligations.
  • The exchange underscores how tax compliance disputes can strain family relationships in small businesses.
  • The daughter insists her goal is to prevent tax fraud, not to hurt her mother or the business.
  • Commenters caution that misclassification can have serious legal and financial consequences for the employer.
  • The case illustrates the IRS’s potential role in resolving worker status between family members and small businesses.
  • The narrative includes quotes from multiple Reddit users advocating firm action to protect tax rights.
  • The broader theme centers on balancing family ties with lawful payroll practices in small enterprises.
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#3
Treasury Department announces expanded HSA tax benefits under Trump law
#3 out of 4562.0 est. views
business14h ago

Treasury Department announces expanded HSA tax benefits under Trump law

  • The Treasury and IRS released guidance expanding HSA eligibility under the OBBA, broadening plan types that qualify for HSAs.
  • Starting in 2025, bronze and catastrophic plans can be HSA-compatible even if they are not traditional HDHPs.
  • The guidance expands HSA eligibility to some direct primary care (DPC) arrangements starting next year.
  • The change aims to broaden tax-free savings for healthcare costs and telehealth services.
  • Lawmakers are debating extensions of enhanced Obamacare subsidies, with Republicans pushing HSA-focused reforms.
  • Senate Republicans introduced a Health Care Freedom for Patients Act to divert funds to HSAs.
  • The measure proposes demographic allocations of $1,000 to 18–49 year-olds and $1,500 to 50–64 year-olds for HSAs.
  • The Senate is expected to vote on the GOP plan and then on a Democratic extension of subsidies.
  • The exposure of expanded HSA benefits comes as part of broader debates over healthcare policy.
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#4
www.currentfederaltaxdevelopments.com
#4 out of 4
politics5h ago

The Disaster Related Extension of Deadlines Act (H.R. 1491) Sent to the President for Signature — Current Federal Tax Developments

  • Latest: The Disaster Related Extension of Deadlines Act (H.R. 1491) was sent to the President for signature after Senate approval.
  • The bill fixes how disaster postponements are treated for refund lookback under IRC § 6511(b)(2)(A).
  • The act creates that disregarded time counts as an extension for filing claims under § 6511.
  • The measure aligns the last date for payment with postponed deadlines to avoid premature collection notices.
  • The changes apply to notices issued after the Act’s enactment date, updating collection procedures.
  • The bill is framed as a technical correction to synchronize disaster relief with refund and collection timing.
  • The act is prepared with assistance from NotebookLM.
  • Effective date: applies to claims and notices issued after enactment.
  • The act provides a remedy for two statutory misalignments: refunds and collection notices during disasters.
  • The Senate approved the House bill without amendment before sending it to the President.
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