Tag Archive for: taxable income

IRS Announce 2024 Cost of Living Adjustments For Retirement Plans

The COLA adjustments applicable to dollar limitations on benefits and contributions for retirement plans generally effective for Tax Year 2024 were just announced.

Four Year-End Tax Tips To Get On Track For 2024

It's a great time to start thinking about your taxes. There are four tips that can help you get on track for 2024.

How You Can Avoid A Tax Refund Shock Next Year

One way Americans can avoid being caught off guard next tax season is by conducting a thorough review of their tax return alongside a mid-year review of their income so far in 2023. Undergoing a mid-year assessment can help taxpayers estimate how much they will receive in tax refunds or what sort of balance they will owe next tax season.

What Are The Tax Rates For Different Types Of Retirement Income?

Your IRAs, pensions, taxable accounts and Social Security distributions create various tax implications. So, it’s vital to understand them and implement strategies to reduce your tax liability and maximize your retirement funds.
clipboard holding a 1040-x amended income tax return_canstockphoto90132948 845x345

What Happens If You Amend Your Tax Return?

Taxpayers may need to file an amended return if they discover that they made mistakes, such as failing to report income, claiming deductions or credits incorrectly, or making other errors that affect the amount of tax owed or the amount of refund due.
businessman_irs_desk with computer papers and calculator_canstockphoto54052181 845x345

IRS Pledges More Audits Of The Wealthy And Better Customer Service

The agency’s newly released strategic operating plan lays out the specifics of how the IRS will allocate the $80 billion or improved operations, through fiscal year 2031, that was approved in that legislation.