IRA custodians are required to issue IRS Form 5498 by May 31 to report certain IRA activity for the previous year. You might receive a Form 5498 for 2023 if you had reportable deposits for your IRA, ...
Fewer taxpayers are subject to gift taxes thanks to a $12,920,000.00 lifetime gift tax exemption for 2023. Because many taxpayers do not fall under the exemption amount, they do not necessarily have ...
The Child Tax Credit (CTC) is a valuable benefit for families in the United States, designed to provide financial support for raising children. It allows eligible taxpayers to reduce their federal ...
As the deadline for Americans to file their taxes approaches, the Internal Revenue Service (IRS) put out a series of guidelines to avoid errors which could slow down or even stop their federal tax ...
Lucy Lazarony is an experienced personal finance journalist and writer who got her start in 1998 writing about financial topics. She writes accessible and easy-to-understand articles about credit, ...
If you don't know the difference between a W-2 and a W-4 or a 1040 and a 1099, you're not alone. Everyone needs to understand how every IRS tax form is used and when to use them. There are many forms ...
The IRS had made huge progress in trying to be transparent about the refund process. But, with every step forward, there are ...
A phone forum held by the Internal Revenue Service (IRS) instructed attendees on how to deal with plan-related errors. During the event, “EPCRS: Correction of 401(k) Plan Mistakes,” co-presenter ...