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IRS to end another major tax loophole for the wealthy and raise $50 billion in the process
York News-Times· 4 days agoThe IRS plans to end a major tax loophole for wealthy taxpayers that could raise more than $50 billion in revenue over the next decade, the U.S. Treasury Department said Monday ...
RFT owner faced IRS issues, complaints of rash decisions. He says the sale was 'brutal.'
St. Louis Post-Dispatch· 2 days agoIn October, Chris Keating gathered the staff of the Riverfront Times at the El Milagro Azteca...
Stretching IRA Payments for Heirs: Using Charitable Remainder Unitrusts | New York Law Journal
Law.com· 15 hours agoThe SECURE Act—starting in 2020— killed the stretch IRA for most heirs. Until that legislation, an...
JD Supra: New IRS Ruling Guidelines Significantly Impact Tax-Free Spin-Offs
JD Supra· 5 days agoOn May 1, 2024, the Treasury Department (Treasury) and Internal Revenue Service (IRS) released Revenue Procedure 2024-24 (Revenue Procedure), which sets out substantially ...
Are Annuities Taxable?
Investopedia· 3 days agoAn annuity is a financial product designed to provide a steady income stream during retirement. It is a contract between you and an insurance company,...
Where Have All the Pensions Gone? How Are Gen X and Millennials Replacing Them?
GOBankingRates via Yahoo Finance· 6 hours agoPensions used to be the "norm" when you worked for an employer. You trade your hours working for a...
Trump tax breaks are set to expire after 2025. Here's what advisors are telling their clients
CNBC· 3 days agoWith trillions of dollars in tax breaks scheduled to expire after 2025, financial advisors are...
5 Common Errors to Fix in Your IRA Before the IRS Flags Them
Morningstar· 3 days agoIRA custodians are required to issue IRS Form 5498 by May 31 to report certain IRA activity for the previous year. You might receive a Form 5498 for 2023 if you had reportable ...
What is a nonqualified annuity and how does it work?
Bankrate via Yahoo Finance· 1 day agoQualified annuities are typically part of an existing qualified retirement plan, which could result in a tax deduction for your contribution. However,...
TaxBandits Facilitates Seamless, Cost-Effective BOI Reporting for Tax Pros and High-Volume Filing
Digital Journal· 1 day agoCHARLOTTE, NC / ACCESSWIRE / June 20, 2024 / TaxBandits, the IRS-authorized e-file provider for 1099, W-2, ACA 1095, and various other tax forms, now offers a streamlined ...