Archive | October, 2017

Washington Hotline – October 24, 2017

WASHINGTON NEWS IRS Security Summit Highlights Progress On October 17, the IRS held a Security Summit Conference in Washington. In his presentation, and in letter IR-2017-176, Commissioner John Koskinen highlighted the success of the Security Summit in reducing identity theft. Koskinen stated, “We have made tremendous progress since the Security Summit Partnership held its first […]

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Social Security Tips for October 2017

Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 66 million Americans will increase 2.0 percent in 2018. The 2.0 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 61 million Social Security beneficiaries in January 2018.  Increased payments to more than 8 million SSI beneficiaries will begin on […]

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Washington Hotline – October 17, 2017

WASHINGTON NEWS Will Tax Reform Include New Charitable Deductions? As the House Ways and Means Committee staff continues to draft a massive tax reform bill, a new proposal could expand charitable giving. This week, Rep. Mark Walker (R-NC) introduced the Universal Charitable Deduction Act (UCDA). The UCDA proposes allowing “above the line” charitable deductions in […]

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Washington Hotline – October 3, 2017

WASHINGTON NEWS IRS Highlights Education Benefits With America’s children back in school this fall, the Service highlighted education benefits for teachers and students in IR-2017-163 and 166. Teachers have three potential benefits. An educator may deduct “above the line” amounts up to $250 so long as they are unreimbursed business expenses. This deduction is available […]

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