Tag: Tax planning
Over 60 million tax returns could be completed automatically, study says
Tom Werner | DigitalVision | Getty ImagesThe IRS may have the ability to automate nearly half of tax returns, according to a working paper from the Na [...]
Supreme Court rejects SALT limit challenge from New York, New Jersey
Rep. Judy Chu, D-Calif., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol.Sarah Silbiger | [...]
How to avoid a tax filing rejection if last year’s return is pending
Drakula & Co. | Moment | Getty ImagesThe IRS is backlogged and still sifting through tens of millions of pending returns, including many of last y [...]
Meet Erin Collins, National Taxpayer Advocate for the IRS
Erin M. CollinsSource: Erin M. CollinsIf you're one of the millions of Americans grappling with IRS issues, you may not realize there's another option [...]
The IRS sent more than 45 million refunds. This is the average payment
Bill Oxford | E+ | Getty ImagesThe IRS has issued more than 45 million tax refunds worth almost $152 billion in total, as of March 11, the agency repo [...]
Considering a Roth IRA conversion? Here’s how to reduce the tax bite
If you're considering a Roth conversion, your timing and yearly planning can significantly reduce the tax bite, financial experts say. The popular ret [...]
New Jersey governor floats property tax relief for homeowners, renters
New Jersey Gov. Phil Murphy delivers a victory speech on Nov. 3, 2021, in Asbury Park, New Jersey.Eduardo Munoz Alvarez | Getty ImagesProperty tax rel [...]
The IRS has sent nearly 30 million refunds. Here’s the average payment
Cabania | iStock | Getty Images PlusDespite ongoing challenges, the IRS has sent nearly 30 million tax refunds, worth about $103.2 billion, the agency [...]
What to know before filing business taxes for the first time
In 2021, amid the ongoing pandemic and "Great Resignation," Americans filed a record 5.4 million applications for new businesses, according to data fr [...]
Mega Millions’ jackpot is $421 million. What to do if you win
MARK RALSTON | AFP | Getty ImagesSure, the chance of your ticket hitting the Mega Millions jackpot is tiny — roughly one in 302 million.Nevertheless, [...]
Here’s how Biden’s Build Back Better framework would tax the rich
President Joe Biden delivers remarks on his proposed Build Back Better social spending bill in the White House on Oct. 28, 2021Chip Somodevilla | G [...]
Senate Democrats push for billionaire tax to help fund spending plan
U.S. Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles P. Rettig at a June 8, 2021 Senate Finance Committee h [...]
Here’s how states like South Dakota have become global tax havens
Offshore tax havens have long been a refuge for wealthy individuals trying to hide assets.Now, states like South Dakota, Nevada and others have als [...]
House tax bill would likely force Peter Thiel to pull $5 billion from his IRA
Billionaire Peter Thiel, PayPal co-founder and chairman of Palantir Technologies, during a news conference in Tokyo, Japan, on Nov. 18, 2019.Kiyosh [...]
House Democrats’ tax plan would increase marriage penalty for the wealthy
The tax package House Democrats unveiled this week would increase the so-called marriage penalty for wealthy couples.Couples who file a joint tax r [...]