taxis, etc. The IRS makes it easy for business travelers by allowing the use of “per diem” rates, which are daily allowances to compensate for lodging, meals and incidental expenses incurred on business trips. The rates are updated every year. The 2023-2024 rates take effect October 1st ...
New updates of IRS form 1040 As the 2024 tax filing season approaches, there are several important updates to Form 1040 and 1040-SR for the 2024 tax year. Below are the key changes and how they may affect your tax return, due by April 15, 2024 (or April 17 for residents of Maine ...
The Internal Revenue Service or IRS is a public authority of Federal Government of the United States. The IRS is responsible for all tax collection and controls the implementation of tax legislation. The service was formed in 1862 and is headquartered in Washington, D.C. ...
6 Back to School Shopping Ideas for Parents for Cost Saving and Tax Savings As you gear up for back-to-school shopping, remember these tips to maximize your savings and make the most of your budget. Read More See Older BlogsDon’t Miss Any Updates Sign up with your email to receive ...
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IRS Interest Rates for Individuals 1st Quarter (January to March 7% 2nd Quarter (April to June) 7% 3rd Quarter (July to September) 7% 4th Quarter (October to December) 8% IRS interest rates for 2022 Quarter (2022) IRS Interest Rates for Individuals 1st Quarter (January to...
For example, for 2024 the IRS allows you to claim a deduction for up to $7,000 ($8,000 if you are 50 or over) in contributions you make to a traditional IRA. This maximum contribution is subject to change over the years; however, the IRS updates Publication 590 regularly to reflect ...
"At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency," reads the form. The previous version contained a catch-all asking if taxpayers had "otherwise acquire[d] any financial interest." That is not the case for ...
The U.S. Internal Revenue Service (IRS) recently issuedNotice 2022-45(the Notice), extending deadlines for amending an eligible retirement plan to reflect certain provisions of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) and the Taxpayer Certainty ...
The federal filing deadline for IRS tax returns is generally April 15 for U.S. taxpayers. Throughout the year, some states may be affected by different federal disasters and receive a unique deadline. This page will have these updates as issued by the IRS; see details on casualty and thef...