When it comes to tax-related identity theft, there are two victims — the taxpayer, who may not receive the refund he or she earned, and the IRS, which may be the first to detect the
The Tax Cuts and Jobs Act affected a variety of calculations, and the tax liability differences between married and single taxpayers is a complex story. As the Tax Foundation notes: “One unintended feature of the
Numerous tax experts agree that addressing your tax liability effectively requires planning throughout the year. Those business owners who reap the most benefits consider their taxes year-round, rather than waiting to focus on tax payments
Flexible work arrangements are work programs that enable flexibility in work schedules or the place of work. These arrangements are hugely popular among employees, mainly because they promote work-life balance. FWAs are critical to retention,
You’ll receive a letter from the IRS when the information on your tax return doesn’t match the data reported to the Internal Revenue Service by employers, banks and other third parties. The letter is called
In theory, parents can get as specific as they want, deciding which children and grandchildren should get the fancy lamp from the living room or the painting of the ship in the dining room. But
As many discovered with the last tax season, it was more beneficial to take the standard deduction and forgo itemized deductions. Then again, you may feel that your expenses exceed standard deduction amounts. Taxpayers will
Many IRA and retirement plan limits are indexed for inflation each year. On November 6, 2019, the IRS (Notice 2019-59) announced the inflation-adjusted numbers for 2020. The maximum IRA contribution for 2020 is $6,000, unchanged
Maybe your job, even your entire sector, has disappeared in 2020’s economic turmoil. Or perhaps you are just reaching a point at which you are ready to take the next step in your life. It’s
What are the tax implications of an inherited traditional IRA? Tax rules differ depending on whether or not the beneficiary is a spouse. Be sure you know the rules, because your decisions may have serious
