If you had a surprise tax bill this past filing season, it may be an opportune time to review your paycheck withholdings and estimated tax payment requirements by using the free IRS tax withholding estimator. Changes to income tax withholding amounts on Form W-2s or 1099s can be made at any point during the year by filing an updated Form W-4.
New battery sourcing requirements for electric vehicles took effect after April 18, 2023. This change means that far fewer vehicles qualify for the full $7,500 Clean Vehicle Tax Credit.
Each year, the Internal Revenue Service publishes its annual Dirty Dozen list of tax scams highlighting various schemes that put taxpayers and their financial well-being at risk. In this video, we'll provide an overview of five of the top scams on the list.
Learn about changes to the Clean Vehicle Credit which makes it more complicated to qualify for the full tax credit, including manufacturer requirements, the impact of income thresholds and the effort to promote US manufacturing.
Administration releases Fiscal Year 2024 Budget and Greenbook explanation of tax proposals. Expectations are light for proposals to move forward in Congress.
The Internal Revenue Service recently issued guidance clarifying the federal taxability of special one-time tax rebates and refunds issued by 21 states in 2022, including South Carolina and Virginia.
A recent IRS fact sheet details requirements for the energy efficient home improvement credit and the residential clean energy property credit.
In a previous article, we outlined the background, benefits, and challenges of PTE tax (PTET) regimes. In this article, we address core considerations and planning opportunities.
High-income retirees pay more in monthly Medicare premiums, but with careful planning – and an appeal when necessary – the premiums can potentially be reduced.
Many taxpayers may not realize that taxes are not automatically withheld from RMDs. There are tax strategies to manage estimated tax payments, but the deadline of Dec. 31 is quickly approaching.
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