Monthly Archives: August 2023
What to Know About Traditional Individual Retirement Arrangements (IRAs)
Individual retirement arrangements (IRAs) are a type of personal savings arrangement that gives taxpayers a number of tax advantages when they set money aside for their retirement. There are a number of different types of IRAs, all of which can be set up with a bank, an insurance company, or another kind of financial… Read More »
Many Taxpayers Still Owed Refunds
According to the IRS, more than 1.5 million taxpayers are still eligible for a refund for tax year 2019, but cannot claim it until they submit a tax return for the same year. The agency estimates that these refunds total nearly $1.5 billion, with an average median refund of almost $900. In most cases,… Read More »
IRS Payment Plan Options
Fortunately, just because a taxpayer cannot pay what he or she owes to the IRS in full, does not mean that that person is out of luck. This is because the IRS offers a number of payment plan options, including both short and long-term installment agreements. We’ve included information about a few of those… Read More »
The Tax Implications of Selling Your Home
Many people relocate in the summer, when vacations make it easier to take time off from work. While relocating can be an exciting venture for a family, it can also come with important tax-related repercussions if the move involves selling their current home. For instance, taxpayers who sell their primary residences could be eligible… Read More »
