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HSA limits for 2023 Rise as Part of Tax Code Changes

May 03, 2022

Tax Code Changes Due to Inflation The Internal Revenue Service issued its annual inflation-adjusted amounts for next year’s health savings accounts. Due to surging inflation, the highest level in decades, they are raising the HSA limit. As part of 2023 tax code changes, Revenue Procedure 2022-24, states for calendar year 2023, the annual limitation on… Read more »

IRS Suspends Automated Notices to Streamline System

February 15, 2022

IRS Suspends Automated Notices In the latest push to try and organize a better 2022 tax season, the Internal Revenue Service is suspending more than a dozen automated letters it sends out to taxpayers. These include collection notices, balance due notices and unfiled tax return notices. The actions seem to be a direct result of… Read more »

Treasury says be ready for frustration this tax season

January 18, 2022

Frustrating Tax Season Ahead According to Treasury Department Be forewarned, the Treasury is warning of additional headaches this tax filing season. Taxpayers should be prepared for delays as returns and refunds are processed. There will be difficulties in reaching the IRS. The Treasury officials said funding cuts and staffing shortages due to the ongoing health… Read more »

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Anthony J. Madonia & Associates, Ltd. Map

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It would be our pleasure to discuss your business, tax and/or estate planning needs.
For more information or to schedule an appointment, please complete the following, call or email us today.
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1900 East Golf Road, Suite 650,
Schaumburg, IL 60173
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Phone: (312) 578-9300

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