This video was published by the IRS. If you give money or property to someone as a gift, you (the giver) may need to file a federal gift tax return. But that's only if your gift was greater than a certain dollar amount called the Annual Exclusion Amount. The IRS Form 709 instructions list the Annual [...]
This article was published by the IRS. The Internal Revenue Service today reminded taxpayers that now is the perfect time to review their tax withholding and payments to avoid a surprise when filing next year. An adjustment or two made now may boost take home pay or allow taxpayers to pay more in the last quarter of 2020 [...]
This video was published by the IRS. Most eligible individuals receive their Economic Impact Payment automatically. However, some eligible Americans with incomes that do not require them to file a tax return, including some Americans experiencing homelessness, will need to submit information to the IRS by November 21st to receive their payment. The IRS has a [...]
This article was published by the IRS. With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service is reminding people receiving unemployment compensation that they can have tax withheld from their benefits now to help avoid owing taxes on this income when they file their federal [...]
Saving and paying off debt are both important aspects of a healthy financial plan. But which do you do first? Here is a good rule of thumb. If you don't have any savings at all, start with saving $1000 to cover unexpected expenses that life inevitably throws at you. The last thing you want to do [...]
