2020 RMD: Meet IRS Form 8606
Form 8606 is used for certain instances involving IRAs, including nondeductible contributions to traditional IRAs, distributions from Roth IRAs and Roth conversions.
Still Didn’t Get Your Stimulus Checks? File A 2020 Tax Return For A Rebate Credit Even If You Don’t Owe Taxes
If you haven’t received the first two EIPs, or received less than the full amount, you could be eligible to claim the Recovery Rebate Credit.
Correction On Its Way For IRS Publication With RMD Illustration Error On Inherited IRAs
The RMD example for inherited IRAs in IRS Publication 590-B will be corrected with an updated release. The changes are expected to be made soon.
When You Inherit An IRA, You Also Might Inherit Some Complicated RMDs
An inherited IRA can bring with it a lot of issues, from the basic “What’s an RMD?” to “When does an RMD need to be taken?”
1099-R Says “You Owe Tax” - What Happened To Your 2020 IRA RMD Rollover?
Should you be worried if you redeposited your RMD before the 2020 deadline, yet your Form 1099-R leaves the impression that you kept the money?
If You Paid A Tax Penalty Due To Under-Withholding in 2018, You May Qualify For A Refund
If you filed your 2018 tax return and paid a penalty for under-withholding taxes, you may be positioned for a tax refund relief.
Don't Wait Until April 15 To Do Your Taxes This Year
If you’re putting off doing your taxes until we’re closer to April 15, you might want to reconsider. We have a fresh new Form 1040 to deal with.