Unless you want a surprise notification from the Internal Revenue Service (IRS), it’s important to file all of your taxes on time. If you don’t file before the due date, you may need to request an abatement from the IRS. Fortunately, you can always remit your taxes...
Taxes
Tax credits and deductions for individuals
Tax credits and deductions change the amount of a person’s tax bill or refund. People should understand which credits and deductions they can claim and the records they need to show their eligibility. Tax credits A tax credit reduces the income tax bill...
Leave Excess Retirement Savings For Grandchildren Without A Big Tax Bill
Naming grandchildren as beneficiaries of traditional IRAs used to be a popular estate-planning strategy. Grandchildren had their lifetimes to empty an inherited IRA, which also let them stretch out income-tax payments on the assets. NO LONGER Under 2020 required...