IRS

The IRS is raising 401(k) and IRA contribution limits for 2024, offering individuals more savings opportunities for retirement.  For 401(k) plans, the new contribution limit will be $23,000, up from $22,500 in 2023. This change offers…

The IRS Free File program, aimed at simplifying tax prep and offering free online filing for low to moderate-income taxpayers, is challenged by industry lobbying. Critics argue that these efforts have hindered the program's effectiveness…

The Internal Revenue Service (IRS) has some excellent news for people wishing to boost their retirement savings.  The IRS recently announced an increase in the contribution limits for 401(k) and Individual Retirement Accounts (IRAs) for…

Alabama, Arizona, and Virginia are offering crucial financial assistance this month to aid residents coping with economic hardships by issuing extra stimulus checks. While the federal stimulus checks came to an end more than two years…

Unemployment compensation can be a vital financial lifeline for individuals who find themselves out of work.  However, it's crucial to understand that these benefits are considered taxable income, and when tax season rolls around, you'll…

Virginians are running out of time to take advantage of a limited window of opportunity to get tax rebates for the 2022 tax year.  The deadline for filing 2022 state income taxes to qualify for a tax rebate of up to $400 is Wednesday,…

Tax season often comes with its fair share of stress, especially when you realize you've made an error on your tax return.  But there's good news: amending your tax return can be a game-changer. It's the rule that transforms your filing…

Virginia residents, act fast! Only three days left to claim tax rebates up to $400 by filing your 2022 state income taxes. Don't miss out! The extended deadline for filing tax returns in the Old Dominion is November 1, 2023, which offers…