Tax

If the Social Security Administration is successful in implementing a proposed modification to how benefits are calculated, recipients of Supplemental Security Income (SSI) may soon receive larger monthly payments. In-kind support and…

Find out how your retirement income is taxed and in which places you won't have to pay any taxes at all by reading this guide. Withdrawals from a 401(k) or an individual retirement plan (IRA) are considered taxable income. Retirement…

The extra IRS funds revealed in the Inflation Reduction Act will intensify audits on America's wealthiest taxpayers. Over the next ten years, the Internal Income Service (IRS) hopes to generate an additional $100 billion in income. It…

Eligible US taxpayers can use the home office deduction to deduct certain home expenses from their annual tax returns. Following the COVID-19 pandemic, the number of persons working from home increased dramatically in 2020. Although…

The IRS accepts payments in different ways, as listed below. In order to avoid fines and interest, it goes without saying that you should act before the tax deadline. There are methods to simplify the payment process, some of which may…

New Mexico seniors filing income tax returns may be pleased to learn that they no longer pay state taxes on Social Security income. The 2022 tax year is the first time since 1990 when the legislature began taxing it, that Social Security…

The IRS announced Thursday that it will hire over 20,000 more workers and deploy new technology over the next two years as part of an $80 billion investment plan to increase tax enforcement and customer service. In its long-awaited…

Many medical school graduates have six-figure debt, with the average debt load being over $205,000. However, several strategies can help with repayment, such as income-driven repayment plans, forgiveness programs, making payments during…