If you’ve mailed a check to the IRS and are still waiting for it to clear, you’re not alone—and you’re not forgotten (probably). In yet another twist in the saga of government efficiency, the IRS has found itself behind on processing payments. Again. Read more
Assessing the new over-65 deduction and its implications for Social Security taxation, as well as new rules for charitable giving and the SALT deduction. Read more
The IRS is continuing its processing of tax refund payments for eligible individuals who filed their 2024 returns. Those expecting a refund should check their eligibility for direct deposits, especially as the IRS finalizes payments in early July. With an average refund of $2,939, taxpayers are seeing slightly higher returns compared to 2024, reflecting a…
Some may owe taxes by breaking even or losing by gambling. SEE VIDEO
The IRS has acknowledged delays in processing some 2025 electronic tax payments, leading to confusion for taxpayers who received unexpected balance-due notices. At the same time, a major transition is underway to eliminate paper checks from all federal payments starting this fall. Read More
Summer has arrived, and states are beginning to implement policy changes that were enacted during this year’s legislative session (or that have delayed effective dates or are being phased in over time). Generally, most state individual and corporate income tax changes take effect on January 1, the beginning of the calendar year, for consistency through the tax year. However, some…
You may have paid a substantial amount of taxes to the government during your professional life, but it does not mean that you will stop paying taxes once you retire. There are states that tax your retirement income, too, other than a few. Here’s a look at some of the US regions that do not…
Some taxpayers have not yet filed their 2024 tax return. This is possible when they request an IRS filing extension, when they get tax relief and qualify for a later date, or when they are living outside the United States. For this last group of recipients, the Internal Revenue Service has set the deadline on…
