Tag: Tax planning
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Scam victims can owe taxes on stolen money. A bill in Congress could offer relief
A bill in the House would restore a pre-2018 rule that generally allowed a tax deduction for theft losses and would add other relief for fraud victims.
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IRS chief Bisignano: ‘We should have every family enrolled in a Trump Account’
“I think the objective is to have 70 million children under 18 to have a Trump Account,” IRS CEO Frank Bigisnano said.
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IRS tax liens can be a ‘kiss of death,’ consumer advocate says — and they’re on the rise
Federal tax liens filed by the Internal Revenue Service can impact people’s employment and their ability to access credit.
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Trump Accounts for kids launch July 4: What parents need to know
Here’s a breakdown of how Trump Accounts work, who qualifies for free money and when the funds can be withdrawn.
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Trump Account signups now total more than 6 million, but millions more children are eligible
Trump Accounts will soon be available to millions of U.S. children; however, many may miss out on the savings opportunity — and free money.
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Inflation is eroding cash returns. Here’s where to park your savings
While inflation is a normal part of the economy, the higher it is, the more your idle cash is losing purchasing power over time.
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Inside Wealth: Trump’s ‘big beautiful bill’ has a ‘double taxation’ trap for top earners, tax lawyers say
A new guide by Congress’ tax policy staff indicates that trust income can be taxed twice.
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Trump Accounts create a ‘legal backdoor’ for Roth IRA wealth, tax attorney says
There’s a strategy that could help turn these new investment accounts into tax-free vehicles in retirement, some experts say.
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