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Piotrekswat/Getty Images Starting next year, Form W-4 may look a little different. The IRS and Treasury Department on Friday released a draft of a new Form W-4 that they say “reduces the form’s complexity and increases the transparency and accuracy of the withholding system,” according to a...
National Taxpayer Advocate Nina Olson The only thing worse than becoming an identity theft victim is trying to fix the mess. The problem is exacerbated when a person’s information is used to commit tax fraud. When a fake return is used to obtain a fraudulent refund, the real...
Caiaimage/Paul Bradbury/Getty Images Tax season opens Jan. 29, 2019. That’s when the IRS starts accepting returns. Some people don’t need to file taxes every year. Those whose earnings don’t meet certain thresholds get a reprieve from filing. You must consider three factors when determining whether you need...
Secretary of the Treasury Steven Mnuchin (R) and National Economic Director Gary Cohn speak about President Donald Trump’s new tax reform plan during a briefing at the James Brady Press Briefing Room at the White House on April 26, 2017 in Washington, DC. (Mark Wilson/Getty Images) ...
10’000 Hours/Getty Images The stars have aligned, and finally you’re set to collect a meaningful bonus for your hard work. Now you can take that vacation you’ve dreamed of, pay off a loan or help build your savings. Or can you? The answer depends in part on...
NFL head coach Tony Dungy and NFL quarterback Peyton Manning show off their Super Bowl rings from the Indianapolis Colts’ victory in 2007. Kevin Mazur/WireImage/Getty Images. To the victor of the Super Bowl go the spoils, or rather, the bling. Later this year, the Denver Broncos players,...
Artie Photography/Getty Images Is it better to live in a state with no income tax? It’s a great question to ask especially when considering how much of our paycheck is already set aside for Uncle Sam. Seven U.S. states forgo individual income taxes as of 2018: Alaska, Florida,...
@fady.halem/Twenty20 You got away with getting tax-deferred earnings on your retirement accounts for years, maybe even decades, but eventually you have to pay the piper. When you turn 70 1/2, you must — that’s must — begin taking annual withdrawals from your tax-deferred retirement accounts, such as...
@TatianaMara/Twenty20 If there’s one thing to be accomplished during the ongoing government shutdown, it might be issuing tax refunds. On Monday, the acting director of the White House Office of Management and Budget, Russell Vought, eased worries about the government shutdown impacting tax returns in the upcoming...