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Under Biden Tax Plan, Capital Gains Tax Will Exceed 50% In 11 States

If the Biden plan passes, there are 11 states where Americans subject to the new rules will face combined capital gain taxes over over 50%. ....

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Will Putting Your Tax Return On Extension Increase IRS Audit Risk?

There’s no shame in an extension. Everyone can automatically get until October 15 by filing (electronically or by mail) a tiny form. ....

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What Tax Rules Apply to an IRA Rollover?

Rolling over a 401(k) or other workplace retirement plan into an Individual Retirement Account (IRA) is very common when people change jobs or retire. Among other potential benefits, a rollover lets savers combine multiple accounts to keep better track of everything. But if the rollover isn’t done right, you could end up facing a big […] The post What Tax Rules Apply to an IRA Rollover? appeared first on SmartReads by SmartAsset. ....

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Some Taxpayers Beat The IRS In Court—Even If They Don't Have Receipts

Cohan v. Commissioner stands for the wonderful proposition that in an IRS audit, even if you don’t have receipts, you might still qualify for a tax deduction. ....

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IRS & California Give San Diego Storm Victims Tax Relief To June 17

The IRS and FTB have postponed tax filing and payment deadlines to June 17, 2024. Individuals and businesses have until June 17, 2024, to file returns and pay taxes. ....

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