If you’re reading this, the chances are high that you’re one of the many, many people who have received a notice from the Internal Revenue Service. Some level of correspondence with the IRS is natural ‒ particularly leading up to and in the immediate aftermath of tax season. But if you’ve received notification that the […]

Article Highlights: Early Withdrawals Excess Contributions Multiple Rollovers No Traditional IRA Contributions in the Year Reaching age 70½ Failing to Take a Required Minimum Distribution (RMD) Late Contributions Switch the Type of IRA Backdoor Roth IRA Alimony as Compensation Spousal IRA Saver’s Credit IRA-to-Charity Direct Transfers There are both opportunities and pitfalls for IRA owners, […]

Article Highlights: Tax Cuts and Jobs Act Reinvested Gains Enhanced Basis Qualified Opportunity Funds Partnerships Qualified Opportunity Zones If you have a large capital gain from the sale of a stock, asset, or business and would like to defer that gain with the possibility of excluding some of it from taxation, you may want to […]

Article Highlights: Electronic Funds Withdrawal Direct Pay Electronic Federal Tax Payment System Send a Check Pay by Cash Credit Card Installment Agreement Tap a Retirement Account If you aren’t one of those lucky Americans who gets a tax refund from the IRS, you might be wondering how you go about paying your balance due. Here […]

Article Highlights: Your federal tax refund status can be checked online. E-file refunds are generally issued within 21 days of filing. Direct deposit provides the quickest refunds. If your 2018 federal return has already been filed and you are due a refund, you can check the status of your refund online. “Where’s My Refund?” is […]