Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications.
Here’s a brief rundown of four tax and financial issues you may contend with when you retire:
Taking required minimum distributions. These are the minimum amounts you must withdraw from your retirement accounts. ... Read More ›
Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain records. You may have to produce those records if the IRS audits your return or seeks to assess tax.
It’s a good idea to keep the actual returns indefinitely. But what ... Read More ›
The Internal Revenue Service (IRS) has issued final regulations that reduce the electronic filing threshold from 250 W-2s to 10 informational returns (such as Forms W-2 or 1099), beginning January 2024.
If you file 10 or more informational returns, you must file electronically unless the IRS grants a waiver or exemption.
For further information and specifics, Read More ›