All articles tagged with #taxes
Originally Published 2 days ago — by IRS (.gov)
The IRS provides resources and guidance on the new tax law provisions from the One, Big, Beautiful Bill, including deductions for seniors, no tax on tips, overtime, and car loan interest, along with tools for taxpayers to manage their taxes and refunds efficiently.
Originally Published 7 days ago — by Yahoo Finance
A couple's $100,000 profit from selling a home was largely spent on cars and debt, prompting Dave Ramsey to criticize their financial decisions and advise consulting a tax professional to understand their tax liabilities.
Originally Published 8 days ago — by NBC 5 Chicago
Employers are required to send out W-2 forms to employees by January 31, each year, reporting wages and taxes withheld, with the tax filing deadline set for April 15.
Originally Published 8 days ago — by The Motley Fool
The article explains upcoming changes to required minimum distribution (RMD) rules for retirees in 2026, including the age at which RMDs start, the elimination of RMDs for Roth 401(k) plans, and penalties for failing to take RMDs on time, emphasizing the importance of understanding these rules for retirement planning.
Originally Published 11 days ago — by IRS (.gov)
The IRS and Treasury issued guidance on a new tax deduction for interest paid on qualifying vehicle loans for American-made cars purchased after December 31, 2024, applicable to both standard and itemized taxpayers, including rules for eligibility, reporting, and limits.
Originally Published 12 days ago — by Yahoo Finance
Florida Governor Ron DeSantis claims that Jeff Bezos's move from Washington to Florida significantly impacted Washington's budget by removing its biggest taxpayer, highlighting the advantage of states without income tax like Florida amid discussions of new taxes in Washington.
Originally Published 14 days ago — by KSL.com
The article outlines key changes to the 2025 tax laws, including increased standard deductions, new deductions for seniors, higher SALT deductions, and modifications to credits like the child tax credit, along with new provisions affecting vehicle and crypto reporting, all of which may impact taxpayers' filings and refunds.
Originally Published 15 days ago — by OregonLive.com
A retiree who mistakenly paid taxes on a small 401(k) distribution and later deposited it into a traditional IRA cannot convert it to a Roth IRA without paying taxes again, but can withdraw the excess contribution and earnings before the tax deadline to avoid penalties. The article emphasizes the importance of consulting a tax professional and setting up financial guardrails as one approaches retirement.
Originally Published 17 days ago — by Business Insider
Starting in 2026, federal and state Social Security tax rules will change, with West Virginia ceasing to tax benefits and other states like Connecticut and Vermont continuing to do so; older Americans will also benefit from expanded federal tax breaks through 2028.
Originally Published 19 days ago — by ABC News
Colombia's government has declared an economic emergency allowing the president to issue taxes by decree to address budget shortfalls, amid criticism and legal challenges, after failing to pass a new tax bill and facing high public spending.
Originally Published 20 days ago — by MarketWatch
Winning the $1.6 billion Powerball jackpot won't make you a billionaire due to taxes, splitting the prize, and professional fees, leaving an estimated $128.5 million after deductions, making you a very wealthy individual but not a billionaire.
Originally Published 21 days ago — by The Washington Post
Investing in a Trump account could complicate your taxes, highlighting the importance of understanding potential tax implications before making such investments.
Originally Published 27 days ago — by Axios
President Trump and his advisers are optimistic about a strong economic rebound in 2026, driven by stimulus measures, tax benefits, and deregulation, despite some skepticism and ongoing concerns about affordability and inflation. Trump dismisses affordability issues as a 'hoax' and plans to emphasize economic growth in upcoming speeches and campaigns.
Originally Published 1 month ago — by Forbes
The Powerball jackpot has increased to $740 million after no winner was found in Saturday's draw. A winner could choose between receiving the full amount over 30 years or a lump sum of $346.1 million, but taxes significantly reduce the take-home amount, with federal taxes potentially lowering the lump sum to around $218 million and state taxes varying by location.
Originally Published 2 months ago — by Forbes
The Mega Millions jackpot has reached $965 million after no winner was found in the latest draw, but after taxes and deductions, the actual take-home amount for a winner would be significantly lower, with options for a lump sum of around $445.3 million or annual installments, each subject to federal and possibly state taxes.