Personal Finance
Where’s My Refund?
As millions of people file their 2024 tax returns, the Internal Revenue Service reminds taxpayers to use the Where’s My Refund? tool on IRS.gov to confirm receipt of their return and track a refund.…
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Super-Catch-Up Retirement Contributions
Starting in 2025, the SECURE 2.0 Act allows eligible participants who are ages sixty to sixty-three to make “super-catch-up contributions” of up to the greater of: $10,000, or 150 percent of the regular…
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Transition Relief for Third-Party Settlement Organizations
The Internal Revenue Service issued Notice 2024-85 PDF providing transition relief for third-party settlement organizations (TPSOs), also known as payment apps and online marketplaces, regarding transactions…
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Eligible IRA Owners can Donate More to Charity in 2024
The Internal Revenue Service reminds individual retirement arrangement (IRA) owners age 70½ and older that they can make up to $105,000 in tax-free charitable donations during 2024 through qualified charitable…
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Hurricane Updates: IRS Tax Related Assistance and Warning about Charity Scams
In the wake of the devastating hurricanes that have ravaged Florida and the Southeast in recent weeks, the Internal Revenue Service warned about charity scams and reassured victims that it stands ready…
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Smart Savings: 529 Plan to Roth IRA
The SECURE 2.0 Act, passed at the end of 2022, introduced over 100 measures aimed at enhancing American savings. Among these is a provision allowing up to $35,000 in unused funds from a Sec. 529 education…
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Election 2024: Overview of Tax Policies
Tax policy has emerged as a central topic in the 2024 US presidential election because it directly affects the financial well-being of individuals, businesses, and the overall economy. It not only determines…
Continue ReadingIRS Relief Now available to Hurricane Debby Victims
The Internal Revenue Service announced tax relief for individuals and businesses in five states affected by Hurricane Debby. Affected taxpayers in South Carolina, North Carolina, Florida, Georgia, and…
Continue ReadingFinal Regulations on the Sale and Exchange of Digital Assets, including Cryptocurrency
The U.S. Department of the Treasury and the Internal Revenue Service issued final regulations requiring custodial brokers to report sales and exchanges of digital assets, including cryptocurrency. These…
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Consumer Alert on False Tax Credits
The Internal Revenue Service (IRS) has issued a consumer alert regarding false information circulating on social media about non-existent Self Employment, Fuel, and Family Leave tax credits. This misinformation…
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