This article was published by the IRS. The Internal Revenue Service has launched a new feature that will give taxpayers digital control over who can represent them or view their tax records, a groundbreaking step in the agency's expansion of electronic options for taxpayers and tax professionals. The new feature, one of many recent enhancements to [...]
This article was published by the IRS. This year taxpayers can put an extra $1,000 into their 401(k) plans. The IRS recently announced that the 2022 contribution limit for 401(k) plans will increase to $20,500. The agency also announced cost‑of‑living adjustments that may affect pension plan and other retirement-related savings next year. Highlights of changes for [...]
With talk that Social Security funds will begin to be depleted in coming years, many people are interested in staying on top of the health of Social Security. Each year, the Social Security Board of Trustees issues its annual report on the current financial status of the Social Security program. In this video, Steve Goss, the [...]
This article was published by the IRS. Eligible educators can deduct unreimbursed expenses for COVID-19 protective items to stop the spread of COVID-19 in the classroom. COVID-19 protective items include, but are not limited to: face masks; disinfectant for use against COVID-19; hand soap; hand sanitizer; disposable gloves; tape, paint or chalk to guide social distancing; [...]
This article was published by the IRS. The Internal Revenue Service recently announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. The IRS assessed its collection activities to see how it could apply relief for taxpayers who owe but are struggling financially because [...]
