A new rule being implemented for the 2024 tax year means revenue over $5,000 collected through platforms like PayPal or Venmo has to be reported. That includes payments for concert tickets, clothes and household items. CBS News contributor Javier E. David has more.Jan 28, 2025...
Ability of non-qualified annuitants receiving regular annuity payments as income to change their payout amount in three different methods; Need for non-qualified annuity policyholders to stick with the distribution method being chosen; Significance of the new rule on helping financial advisers sell ...
On October 12, 2023, the Social Security Administration (SSA) announced the 2024 Social Security Wage base increase from $160,200 to $168,600. The IRS (Internal Revenue Service) announced the 2024 cost-of-living adjustments for various retirement plan limits on November 1, 2023. Below are se...
The Internal Revenue Service (IRS) makes updates to common tax provisions and procedures for various reasons. One annual change is to ensure that certain parts of the tax code keep up with inflation. And, aside from new laws, there are other adjustments and tax process changes to be aware ...
The IRS data shows that the taxpayers leaving Illinois and New York typically made about $30,000 to $40,000 more than those arriving. Of Illinois’s total out-migration, 28% of the leavers made between $100,000 to $200,000 and 23% made $200,000 or more. By contrast, the average ...
Penalties won’t be charged on a certain number of returns if the de minimis rule applies. However, the IRS increases per information return penalties (applying to 1099s) and removes the maximum penalty in the case of intentional disregard of filing requirements. According to the IRS General...
The IRS is drafting plans to cut as much as half of its 90,000-person workforce Jessica Alba, 43, sparks dating rumors with toyboy comedian, 35, at Oscars party less than a month after divorce Why you need to check if you have an ‘Irish pinky toe’ – it could mean your health ...
We read every piece of feedback, and take your input very seriously. Include my email address so I can be contacted Cancel Submit feedback Saved searches Use saved searches to filter your results more quickly Cancel Create saved search Sign in Sign up Reseting focus {...
Replace the Base Erosion Anti-Abuse Tax (BEAT) with an "undertaxed profits rule" (UTPR) that is consistent with the UTPR in the Pillar Two rules Repeal the deduction for foreign-derived intangible income (FDII) Create a new general business credit equal to 10% of eligible expenses incurre...
New York University Review of Employee Benefits and Executive Compensation (Pub. #01646) – Topics found in the recent release include excessive fee litigation; ERISA fiduciary litigation; employee turnover & partial plan terminations; recent successful challenges to IRS Actions and positions; IRC Sect...