Retirement Accounts The IRS Can Garnish If You Don't Pay Your Taxes
The Internal Revenue Service has broad authority to garnish, levy, or lien your financial and personal assets if you owe back taxes.
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Seniors Should Ask For This Tax Form To Make Filing Taxes Way Easier
If you prefer using a pen and paper to file your taxes every year, you might want to consider using a special tax form that is catered to seniors.
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The IRS Will Flag You If You If You Break This Bank Account Rule
While there can be a lot to know about IRS requirements, foreign accounts and assets can present their own unique rules you'll want to make sure to follow.
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The IRS Might Flag You If Your Annual Income Is Higher Than This Number
The odds of being audited by the IRS increase with your income level, with specific metrics used to determine the need for increased scrutiny.
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The U.S. Just Posted The Most Stunning Financial Number Of Trump's Presidency - Here's What It Means For Your Wallet
The U.S. government posted a budget surplus in April, the first time this has happened since 2022, and it had an immediate effect.
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You've Been Warned: These Child Tax Credit Mistakes That Could Stop Your Refund
If you fail to follow the correct procedure when claiming the Child Tax Credit, your tax return could be rejected or worse, it could trigger an audit.
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The New York Law That Could Start Costing Residents A Ton Of Money
When New York State implemented a law that an important produce must be produced within the United States, the burden of paying for it went to taxpayers.
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The Tax Mistake That Could Get You Booted From The 'Upper Class'
Many wealthy individuals find themselves falling victim to poor tax planning, which can significantly reduce their net worth over time.
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States That Exempt Social Security Income: A Complete List
When considering a place to call home during retirement, these states offer the budgeting advantage of not taxing your Social Security.
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The Tax Refund That Can Make Some People $8,000 Richer
The IRS estimates that one in five eligible taxpayers don't apply this important tax credit to their filing every year, resulting in the loss of thousands.
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Choosing The Wrong Tax Filing Status Could Cost You Money
Filing your taxes can be stressful enough as it is, but mixing up your filing status can lead to an even bigger headache not to mention a delay in your return.
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The Assistance Payment You Don't Have To Pay Taxes On
If you are a recipient of this relief from the federal government, there is a good chance you won't have to pay taxes on that money.
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The Easy Mistake That Can Get Your Social Security Suspended
The primary way to ensure the smoothest Social Security experience is to keep your information current at all times, especially after big changes.
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If Your Household Tax Refund Is Above This Number, You Beat The National Average
While you might be excited about the idea of getting a big tax refund this year, it's important to realize that a refund isn't necessarily a good thing.
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You've Been Warned: Hidden Fees Tax Services Don't Want You To Know About.
Tax preparation services can add stress to your tax filing process. This is especially true when it comes to the many hidden fees these services might include.
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The Unexpected Behavior That Increases Your Audit Risk More Than A Tax Extension
While there are a lot of different myths and ideas about what can lead to an IRS audit, one simple decision can actually be the best way to avoid the risk.
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4 Big Social Security Changes Retirees Should Expect In April 2025
The Social Security Administration will enact a series of changes in April 2025 to make the process of receiving payments more streamlined and modern.
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Do This To Reduce Your Chances Of Getting Audited By The IRS
While taxes are not exactly fun, they pale in comparison to how stress-inducing an IRS audit can be. With that in mind, here are some ways to avoid trouble.
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How Much Social Security Will You Get If You Make $75,000 A Year?
Only some 12% of American workers make more than $75,000 per year, making this a good level at which to analyze Social Security benefits.
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IRS Warns Retirees: The Tax Rule Social Security Recipients Can't Afford To Ignore
While filing taxes is never fun, it's important that retirees remember this specific rule when filing or they could face an even worse experience with the IRS.
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Your Social Security Benefits Will Stop Starting In April If You Don't Meet This Requirement
Recipients of Social Security benefits need to verify their identity in a short period of time or their account could be labeled fraudulent.
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The Underrated Savings Account You Should Open To Save Money On Income Taxes
Opening this account through your employer is an excellent way to have money set aside for medical expenses while also avoiding income tax.
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The Sneaky Tax Deductions You Might Be Eligible For If You Took A Vacation
As the tax filing deadline approaches, you might be looking for ways to reduce your tax burden. For those who travel for work, your trips might hold the key.
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The Tax Deduction You Should Know About If You Live In These 7 States (Including Florida)
If you live in a state without income tax, you can take advantage of the sales tax deduction if you opt for itemized deductions this year.
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Tax Breaks You Should Know About If You Own A Home
Owning a home likely qualifies you for a number of significant tax breaks, and even more if you happen to also work out of that home.
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A State Known For It's Cold Weather Won't Tax Your Social Security Income
This northern state doesn't tax Social Security income or other forms in income, making it a more budget-friendly place to retire.
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The Pay Stub You Should Never Throw Out For Financial Security
Hanging on to this document can provide information on total earnings, retirement contributions, and proof of income when you need it.
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