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 to Do If an Employee Completes Their Form W-4 Incorrectly
The Form W-4, Employee's Withholding Certificate, is a critical document for determining the correct amount of federal income tax to withhold from an employee’s paycheck. If an employer discovers that an employee has completed their Form W-4 incorrectly, it is...