It usually happens in your accountant’s office or when meeting with your financial planner. As you review your 2019 W-2, it becomes clear that you are missing out on a key tax benefit: maxing out your Health Spending Account or HSA.… Continue Reading
If you don’t want to wait for a paper check for your federal stimulus payment, you better get onto the IRS website — and quick. On Friday, the U.S. Internal Revenue Service announced a tight deadline of May 13 to… Continue Reading
Plummeting markets are making Roth IRAs more attractive, although not everyone can put money into these retirement accounts. Workers can save after-tax dollars in these individual retirement accounts, have them grow tax-free and then tap them free of taxes in… Continue Reading
Do you have losses, or are you expecting some? These days, that sounds like a silly question. How losses are treated under the tax law is an important and complex question. After all, in general, our tax system requires you… Continue Reading
giving you three more months to file and pay your federal taxes without a penalty. While you now have until July 15 to file your tax returns, there are still some benefits to still filing the typical April 15 deadline.… Continue Reading
Even though tax day has been postponed because of the coronavirus, Americans will still end up having to pay their taxes by July 15. However, the amount of taxes people pay depends on what state they live in. For example, some states have little to no income tax, but… Continue Reading
In the latest episode of Tax Notes Talk, Jason Furman, a professor at Harvard University and former chair of the Council of Economic Advisers, discusses the arguments used to back a wealth tax and suggests alternatives to reduce the wealth… Continue Reading
Most Americans can get a three-month reprieve to pay their income taxes for 2019, Treasury Secretary Steven Mnuchin said Tuesday in a press conference. The IRS will postpone the April 15 tax deadline by 90 days for millions of individuals… Continue Reading
The U.S. Internal Revenue Service (IRS) is warning accountants and taxpayers that crucial steps must be taken now to prevent data theft. It comes amid nearly two dozen reports of stolen data over the past two months as the tax… Continue Reading
The U.S. Internal Revenue Service (IRS) is warning accountants and taxpayers that crucial steps must be taken now to prevent data theft. It comes amid nearly two dozen reports of stolen data over the past two months as the tax… Continue Reading
