This article was published by the IRS. The Internal Revenue Service is reminding those aged 73 and older of the deadline to take required minimum distributions from individual retirement arrangements (IRAs) and other retirement plans, and highlighted updates introduced by the SECURE 2.0 Act. Required minimum distributions (RMDs) are amounts that many retirement plan and IRA [...]
It's an unfortunate reality that some businesses must permanently close their doors. If this happens to you, there are some tax-related steps you'll need to take. Here's a quick checklist of some things to do: First, if your business is no longer operating, you still need to file all final tax returns for your business by [...]
This video is a step-by-step guide for completing your MA Department of Revenue Amnesty Request, including who is eligible, how to choose account types and payment options, and reviewing your Request before submission. As a refresher, the Tax Amnesty 2024 program is now open. From November 1 to December 30, 2024, the Commonwealth of Massachusetts will waive [...]
This article was published by the IRS. Dates to Remember The Tax Amnesty 2024 program is open. From November 1 to December 30, 2024, the Commonwealth of Massachusetts will waive most penalties for eligible taxpayers and non-filers who: Submit an Amnesty Request on MassTaxConnect Watch helpful Amnesty Request videos Pay all tax and interest included in the [...]
This article was published by the IRS. There are good surprises and there are bad surprises. Generally, a tax-related surprise is probably unwanted. To avoid tax surprises, people should review their tax withholding. There's still time left in 2024 to make changes and see the benefit on their tax return next year. An adjustment made now [...]
