The IRS began accepting 2024 tax returns on January 27, 2025, and has since processed millions of returns. With the April 15, 2025, deadline fast approaching, it’s crucial to ensure timely filing to avoid penalties. Alongside filing, paying any outstanding tax liabilities is equally essential. Many taxpayers can expect higher refunds compared to 2024, contributing … Read more
Many Americans may have missed out on the third COVID-19 stimulus payment, which provided up to $1,400 per eligible individual. The Internal Revenue Service (IRS) has set a final deadline of April 15, 2025, for taxpayers to file their 2021 tax returns and claim the Recovery Rebate Credit. Failing to meet this deadline will result in … Read more
The Internal Revenue Service (IRS) will accept 2024 tax returns up until April 15, 2025. This date serves as the final deadline for filing and paying any taxes owed for the 2024 tax year. Unless you apply for an extension, you must submit your tax return before this deadline. Tax Relief for Disaster-Affected Americans Americans … Read more
In a significant development, more than 1 million Americans have received retroactive IRS payments, according to the Social Security Administration (SSA). The payments stem from changes brought about by the Social Security Equity Act, a bill passed earlier this year, which will repeal provisions that previously restricted retirement benefits for specific workers, including teachers, police … Read more
As of March 14, 2025, over 70 million taxpayers have already filed their returns for the United States tax season. Despite this significant number, the total returns filed are slightly lower than in 2024, showing a 1.7% decrease compared to the same period last year. In this article, we will explore key details regarding refunds, … Read more
As March 2025 approaches its end, recipients of Social Security Disability Insurance (SSDI) benefits anticipate their monthly payments. Understanding the precise payment schedule is crucial for effective financial planning. Additionally, it’s essential to be aware of circumstances under which the Internal Revenue Service (IRS) can garnish these benefits. SSDI Payment Schedule for March 2025 The … Read more
As 2025 approaches, retirees must be vigilant about Required Minimum Distributions (RMDs) from their retirement accounts. The Internal Revenue Service (IRS) mandates that individuals who turned 73 in 2024 must commence RMDs by April 1, 2025. Understanding Required Minimum Distributions (RMDs) RMDs are the minimum amounts that retirees must withdraw annually from specific retirement … Read more
The Child Tax Credit (CTC) provides financial relief to thousands of families across the United States, helping reduce their tax burden by as much as $2,000 per child. This valuable benefit has been particularly important for households with dependent children. However, there are concerns about the future of the CTC, as the current legislation is … Read more