News

The Department of the Treasury and the Internal Revenue Service today issued Notice 2026-05 PDF providing guidance on new tax benefits for Health Savings Account participants under the One, Big, Beautiful Bill. These changes expand HSA eligibility, which allows more people to save and to pay for healthcare costs through tax-free HSAs.

With just a few weeks left in 2025, the American Institute of CPAs (AICPA) advises taxpayers to take action and make year-end tax and financial planning moves that can help prepare them for 2026, especially at tax time. Planning is even more important this year, ahead of the adoption of tax law changes effective this year and next.

The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025.

A quarter of holiday shoppers/travelers usually make a budget for holiday spending but admit they probably won’t stick to it.

That feeling of satisfaction and accomplishment that accountants feel at the end of a successful tax season can be shattered by a phone call from a dissatisfied client or a summons and complaint asserting a liability claim, and the risk factors for that kind of unfortunate event vary from year to year.

The Department of the Treasury and the Internal Revenue Service today issued final regulations addressing several SECURE 2.0 Act provisions relating to catch-up contributions. (Catch-up contributions are additional contributions under a 401(k) or similar workplace retirement plan for employees who are age 50 or older.) The final regulations include final rules related to a SECURE 2.0 Act provision requiring that catch-up contributions made by certain higher-income participants be designated as after-tax Roth contributions.

Experts in personal financial services recommend helping clients keep economic shocks in perspective, simplify their finances, and try out aspects of retirement life.

Future retirees often daydream about golden years that never end. In reality, too many golden years could be a nightmare.

The One Big Beautiful Bill Act hiked and enshrined some tax savings for parents into permanent law, but its many provisions will play out differently across financial advisors' client households.

Thirty-seven percent of Americans have experienced fraudulent activities after being personally and/or professionally impacted by a natural disaster, according to a recent survey conducted by The Harris Poll on behalf of the American Institute of CPAs (AICPA).

In a survey conducted recently by The Harris Poll on behalf of the American Institute of CPAs (AICPA), Americans were asked which type of tax filing and payment relief would be helpful after experiencing a natural disaster:

The AICPA requested additional guidance from Treasury and the IRS on catch-up contributions that are designated as Roth contributions in Section 603 of the SECURE 2.0 Act of 2022 (Division T of the Consolidated Appropriations Act, 2023, P.L. 117-328).

The Internal Revenue Service encourages taxpayers who requested an extension to file their returns now rather than wait until the Oct. 15 deadline. IRS Free File makes it easy.

An American Institute of CPAs (AICPA) survey found that women indicated more concerned about their financial situation over the past 12 months than men. The survey was conducted April 1-3 among over 2,000 U.S. adults as a kickoff to National Financial Literacy Month.

Commencement season is here. This weekend, UConn will see more than 5,000 undergraduates and more than 2,000 graduate students receive their degrees. But, amid cuts to the federal government and fears of a recession, many have questions about the economy they are heading into.

The maximum contribution amounts for a health savings account (HSA) and certain related benchmarks will be slightly higher next year.

Nearly two-thirds of Americans are worried more about saving enough money for retirement than they are about dying.

Money-related stress is top of mind for most Americans, according to a new AICPA survey that shows more than 70% feeling either cautious or uncertain about their financial situation. Some respondents are taking steps to shore up finances with less spending or more saving, and the AICPA is offering advice for managing financial stress as part of National Financial Literacy Month.

Yes, every candidate for retirement is different. But, whether you’re an individual beginning to eye retirement or a financial planner with a constant eye on helping your clients successfully retire, a snapshot of the typical would-be retiree can provide perspective worth considering.

If you have a refund check coming your way, consider using it to bolster your personal balance sheet.