This article was published by the IRS. It's important for taxpayers to understand how selling their home may affect their tax return. When filing their taxes, they may qualify to exclude all or part of any gain from the sale from their income. Here are some key things homeowners should consider when selling a home: Ownership [...]
This article was published by the IRS. The Internal Revenue Service has launched an improved identity verification and sign-in process that enables more people to securely access and use IRS online tools and applications. Taxpayers using the new mobile-friendly verification procedure can gain entry to existing IRS online services such as the: Child Tax Credit Update [...]
This article was published by the IRS. Living with a disability can come with additional expenses. Achieving a Better Life Experience accounts are authorized tax-advantaged 529A accounts that help disabled people pay qualified disability-related expenses. Here are some key things people should know about these accounts. Annual contribution limit The limit remains $15,000 in 2020. Certain [...]
This article was published by the IRS. The Taxpayer Advocate Service (TAS) is an independent organization within the IRS that helps taxpayers and protects taxpayers' rights. They can offer help when tax problems cause a financial difficulty. When the taxpayer has tried and been unable to resolve their issue with the IRS, or a taxpayer believes [...]
This article was published by the IRS. The Internal Revenue Service has announced that the amount individuals can contribute to their 401(k) plans in 2022 has increased to $20,500, up from $19,500 for 2021 and 2020. The IRS has also issued technical guidance regarding all of the cost‑of‑living adjustments affecting dollar limitations for pension plans and [...]
