Taxpayers are now filing their first returns based on the tax law Congress enacted in 2017. For retirees, the largest overhaul of the U.S. tax code in three decades has created new opportunities to cut taxes, along with some potential headaches.
As April 15 approaches, here are important changes retirees should be aware of and steps they can take to reduce their future tax bills.
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Possible changes could make 2020 tax season even more complicatedThe changes, still a work in progress, are aimed at making your returns more accurate and predictable by making sure the amount held back from each paycheck is more exact. A nice flat tax at around 15 percent for everyone no if ands or buts would make it even easier. Well they need to stop it......my family went from getting a $5000 refund to owing $5000 this tax season. I cant afford that
Source: NBCNews - 🏆 10. / 86 Read more »
If you want to claim this tax credit, you must come clean to the IRS firstSneaking cash payments to your nanny not only violates the law, it also can keep you from claiming the child and dependent care tax credit. Here's how to clean up your tax situation. What happened to simplifying unconstitutional taxes?SCAM erica gets dumber by the minute.Taxes are VOLUNTARY. Amazing how BRAINWASHED SCAM erica is. Libertarian needs to be elected POTUS. realDonaldTrump w/his pathetic taxcuts did nothing but help CRIMINALS off WALLSTREET So what about all the businesses that only take cash 💰 and there millions of them. There’s already a credit, called the child care credit. In order to receive it, you must report person or business and their SSN or EIN. People aren’t going to report the care for the credit because it’s a fraction of the savings their getting by hiring under the table.
Source: CNBC - 🏆 12. / 72 Read more »
The Fed doesn't need backward-looking businessmen like Herman Cain pushing half-baked tax policiesCain may know his way around a pizza pie, but he doesn't have the chops to find ways to make the economic pie bigger for one and all, says Ron Insana. Not a fan of 9.99? What? Come on, he's The Pres's good friend. That's not enough? That’s right we need clowns like Krugman
Source: CNBC - 🏆 12. / 72 Read more »
Here's what to do if you can't pay your tax bill on timeTaxpayers who can't pay what they owe have several options. The most important is to file your return to avoid steep penalties from the IRS. It is happening a lot, under trump’s new tax plan. If you can't afford a $1000 surprise I think you should evaluate your life... Like, a lot...
Source: CNBC - 🏆 12. / 72 Read more »
Here's what to do if you screwed up on your taxesHere's what to do if you screwed up on your taxes via CNBCMakeIt MakeIt That's why I take it to a professional. Lol. Never ever, I would try to do my taxes on my own. MakeIt Step one: convert your money to bitcoin and use it to buy a plane ticket to Ecuador
Source: CNBC - 🏆 12. / 72 Read more »
Few Americans think they're getting a Trump tax cut: NBC/WSJ pollJust 17% of people believe their own taxes will go down, the NBC News/Wall Street Journal Poll shows. So, around 1% of Americans? I got mine be and love it. Most people think their taxes went up
Source: CNBC - 🏆 12. / 72 Read more »
This is the No. 1 thing Americans do with their tax refundIt may not be the sexiest choice, but more Americans plan to save the cash they get back from Uncle Sam. Its not a refund. You over paid and got your change back. What tax refunds, realDonaldTrump GOP?
Source: CNBC - 🏆 12. / 72 Read more »
Tech giants pay tax 'nowhere' and the world needs to find a solution: German finance ministerGerman Finance Minister Olaf Scholz says his biggest concern with tech firms is that 'they tend to pay taxes nowhere.' Outfoxed ... Why should they be paying taxes?
Source: CNBC - 🏆 12. / 72 Read more »
Mnuchin says US Treasury will miss deadline for Trump's tax returnsU.S. Treasury Secretary Steven Mnuchin says his department is unable to provide President Donald Trump's tax returns to Congress by Wednesday's deadline. Mr. Mnuchin, allow me to introduce you to Ms. Ginsburg.... Who honestly cares? SPY300 Send him to Rikers Island.
Source: CNBC - 🏆 12. / 72 Read more »
How to file a tax deadline extensionDon't think you'll be able to file your taxes by the April 15 deadline? Here's how to file for an extension. investinyou (In partnership with acorns.)
Source: CNBC - 🏆 12. / 72 Read more »