taxes

July 15 Due Date Approaches for Federal Income Tax Returns and Payments

The due date for federal income tax returns and payments is Wednesday, July 15, 2020. Due to the coronavirus pandemic, the original due date for filing federal income tax returns and making tax payments was postponed by the IRS from April 15, 2020, to July 15, 2020. No interest, penalties, or additions to tax are …

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New Spending Package Includes Sweeping Retirement Plan Changes (SECURE Act)

The $1.4 trillion spending package enacted on December 20, 2019, included the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which had overwhelmingly passed the House of Representatives in the spring of 2019, but then subsequently stalled in the Senate. The SECURE Act represents the most sweeping set of changes to retirement legislation in …

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Tax tips for last-minute filing: Tax Strategy Scan

Roundup of tax-related investment strategies and news your clients may be thinking about. This article was originally on FinancialPlanning.com Tax tips for last-minute filing As the tax-filing deadline draws near, clients who need more time to prepare their taxes should consider an extension until Oct. 15 to avoid putting themselves through a stressful situation, according …

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There’s Still Time to Contribute to an IRA for 2018

Making a last-minute contribution to an IRA may help you reduce your 2018 tax bill. If you qualify, your traditional IRA contribution may be tax deductible. And if you had low to moderate income and meet eligibility requirements, you may also be able to claim the Savers Credit for 2018 based on your contributions to …

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