You should complete and attach Form 5329 if required. Note that the requirement to take a minimum required distribution has been waived for tax year 2020. 9. If you paid a household employee such as a nanny or home health aide, you'll need to fill out Schedule H to determine whether ...
Forms 1099-NEC are due to recipients and to the IRS by January 31 regardless of whether they are electronically or paper filed. Payers are required to send you these forms early in the tax season. This gives you time to prepare your tax return. It also allows the IRS to have evidence o...
For tax years 2024 (filed in 2025) and 2025 (filed in 2026), individuals can contribute $7,000 to an IRA with a $1,000 catch-up contribution allowed for those 50 and older. This limit applies to any type of IRA.7 A Roth option may or may not be considered an IRA depending on h...