Many employees believe they need to complete a new Form W-4 every year. In reality, the IRS does not require annual updates. However, there are several situations where completing a new W-4 is important to ensure the correct amount of federal income tax is withheld...
Taxes
Treasury, IRS issue proposed regulations for Trump Accounts pilot program, Treasury Department to deposit $1,000 into the account of each eligible child
WASHINGTON — The Department of the Treasury and the Internal Revenue Service issued proposed regulations providing guidance regarding the pilot program for Trump Accounts, which are a new type of individual retirement account for eligible children. Trump Accounts and...
Common tax return mistakes to avoid
Mistakes and errors can happen, but most are easily avoidable when it comes to filing federal income tax returns. Taxpayers are encouraged to review their entire return before filing to make sure it is correct and complete. This is the case even if someone else...