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 [...]
Establishing "legal fatherhood," or paternity, is one of the most important things you can do for your child. You don't have to be the biological father to establish legal fatherhood; you simply need to be married to the birth mother at the time of the child's birth. If the mother is unmarried at her child's [...]
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 article was published by the IRS. The Internal Revenue Service is reminding low- and moderate-income taxpayers that they can save for retirement now and possibly earn a tax credit in 2025 and future years. The Retirement Savings Contributions Credit, also known as the Saver’s Credit, helps taxpayers offset a portion of the first $2,000 ($4,000 [...]
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 [...]
