Income Tax

Taking money from your retirement savings has always been a costly choice. There are tax implications, of course. You’ll also be borrowing from your own future, and losing out on any investment gains the money would have made if you left it alone. However, in the wake of a global health crisis and an uncertain […]

Getting audited is something everyone wants to avoid. Even if you’ve been careful and honest in filing your taxes, mistakes do happen. Having the IRS go over everything with a fine-toothed comb is bound to be a stressful experience. Over the past few years, the number of IRS audits has trended down. This was largely […]

Steven Mnuchin, the Treasury Secretary for the federal government, announced today that the traditional April 15 tax deadline will not apply this year. In a tweet (of course it was a tweet), he announced that the Tax Day deadline has been pushed to July 15. There’s not much to explain about this move. It gives […]

The IRS will happily tell you every single year that you should file your taxes as soon as possible. Many of us do exactly that. However, there’s always those procrastinators who leave everything to the last minute. Whether they are trying to ignore a coming tax bill or just bad at time management, the IRS […]