The Internal Revenue Service still has about one million 2020 tax returns to process after the coronavirus pandemic and distribution of millions of stimulus checks upended operations, the agency’s commissioner told federal lawmakers on Friday.
Continue readingFollow these tax-smart principles as you plan your year-end expenses. Getty Images/iStockphoto With year-end rapidly approaching and the general election finally over, it’s time to consider moves that will lower your 2020 tax bill and hopefully position you for tax savings in future years too.
Continue readingThe Internal Revenue Service (IRS) headquarters in Washington, D.C. Janhvi Bhojwani | CNBC We still have two months left in 2020, but the IRS has already released a breakdown of next year’s marginal income tax rates. Each year, the taxman updates its individual income tax brackets to reflect inflation. There are seven brackets: 10%, 12%,… Read […]
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