(May 5, 2015) The IRS has released the 2016 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2016, the annual limitation on deductions under Code Sec. 223(b)(2) for an individual with self-only coverage under a high-deductible plan is $3,350 ($6,750 for an individual with family coverage). A “high-deductible health plan”.

Mississippi has enacted legislation creating a personal income tax exemption for amounts contributed to savings accounts used to pay an insurance policy deductible and other uninsured portions of risks of loss to a taxpayer’s residence from a hurricane, flood, windstorm or other catastrophic event. Specifically, amounts contributed to a catastrophe savings account, interest income earned.

All corporations and limited liability companies doing business in Mississippi are required to file their annual report by April 15, 2015. Failure to file this annual report may result in the administrative dissolution of the company. If your company has already filed its 2015 annual report, please disregard this reminder. Annual reports must be filed.

WASHINGTON – The Internal Revenue Service today reminded taxpayers who receive requests from the IRS to verify their identities that the Identity Verification Service website, idverify.irs.gov, offers the fastest, easiest way to complete the task. Taxpayers may receive a letter when the IRS stops suspicious tax returns that have indications of being identity theft but.