
Don’t Normally File A Tax Return? You May Be Due A Credit (A ‘Refund’) Nonetheless
Those who don’t normally need to file a tax return could benefit from doing so, since they could receive a refund if they are eligible for a tax credit.
Those who don’t normally need to file a tax return could benefit from doing so, since they could receive a refund if they are eligible for a tax credit.
An estimated 1.5 million taxpayers are owed unclaimed tax refunds totaling almost $1.5 billion for the 2018 tax year, according to the IRS.
When working past age 72, the date of your retirement can make a big difference when it comes to taking RMDs from your current employer's 401(k) plan.
If you turned 72 during the second half of 2021, but did not take your first RMD last year, you will need to do so by April 1 or face a 50% excise tax.
In the recently released official IRS Pub. 590-B for the 2021 tax season, there are more details on how to calculate the effect of deductible IRA contributions on QCDs.
2022 may bring a transition for those who have been taking life expectancy distributions from inherited IRAs.
The official version of IRS Publication 590-B for the 2021 tax year includes the new life expectancy tables used to calculate RMDs from retirement accounts.
If you filed your 2021 tax return early online and opted for a direct deposit into your bank account, you may already see your refund on deposit.