Some people who already received a third stimulus check will get an additional payment from the IRS. Will you be one of them? After many Americans have received a third stimulus check following President Joe Biden‘s $1.9 trillion COVID relief
If you’re approaching retirement, you probably want to ensure the money you’ve saved in retirement plans lasts as long as possible. If so, be aware that a law was recently enacted that makes significant changes to retirement accounts. The
Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because your 2020 individual tax return is due to be filed in less than three months (unless
It’s just human nature. Offer people more time to do something, and they’ll take it. The IRS announced this week it is extending the tax deadline from April 15 to May 17. Listed below are some significant reasons why
If you have a traditional IRA or tax-deferred retirement plan account, you probably know that you must take required minimum distributions (RMDs) when you reach a certain age — or you’ll be penalized. The CARES Act, which passed last
The highly debated $1.9 trillion American Rescue Plan has come to fruition. President Biden is scheduled to sign the bill on Friday. What does that mean for businesses and individuals? Businesses Restaurant Revitalization Grant – Up to $5 Million per
The IRS has recently issued over 260,000 taxpayers notices (CP59) stating they have not filed their 2019 individual return. Due to ongoing pandemic issues and major delays within the IRS, the IRS has not completed processing all of the
When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax return. When filing a return, you do so with
The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here are some of the highlights of the Consolidated Appropriations Act, which also contains two other laws: the
The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past years because of a new law that was enacted late in December.) Even if you typically
If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The fourth 2020 estimated tax payment deadline for individuals is Friday,
Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a smart way to build a substantial sum of money.
