Tag: irs
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We know not to take money early from a retirement account. So why do we do it?
[ad_1] Once you earn money, it’s normal to want to spend it. There’s nothing wrong with that, unless it sits in a tax-advantaged account. Most employees who participate in a 401(k) or another defined contribution plan want to build a nest egg. They allocate a portion of every paycheck to it and leave it alone.…
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Worried the IRS will audit you? If you make less than $400K, here’s one reason you can relax
[ad_1] Some clarity is emerging regarding statements from Biden administration officials that no one making less than $400,000 will see higher audit rates from the Internal Revenue Service, which is about to step up its scrutiny of wealthy taxpayers. The Inflation Reduction Act — the tax and climate package enacted last summer — earmarked $80…
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Why is the tax deadline April 18 this year, instead of April 15?
[ad_1] April is National Financial Literacy Month. To mark the occasion, MarketWatch will publish a series of “Financial Fitness” articles to help readers improve their fiscal health, and offer advice on how to save, invest and spend their money wisely. Read more here. Do you have the annual jitters about filing your taxes? If you want…