Over 66 million people in the United States are currently receiving Social Security or SSI benefits, yet the Social Security system is one of the most complicated retirement plans in the world. Unfortunately, most clients on their own do not know how to maximize Social Security benefits, and Social Security Administration employees are prohibited from providing advice to clients. Worse yet, beginning to receive Social Security retirement benefits early and then going back to work can subject the worker to a reduction in benefits, and an unnecessarily high AGI level on Form 1040 can cause up to 85% of the Social Security retirement benefits received to be taxed again. For more on this topic, join me on Tuesday, May 23 for Social Security Rules and Planning Tips. This webinar will provide an overview of the current Social Security system, explain strategies to help clients maximize benefits, and provide guidance on helping clients reduce the taxability of Social Security retirement benefits.
A House panel on June 29 approved a bill calling for an additional $149 million cut to the IRS budget. The proposal would also limit the agency's oversight of conservation easements, tax-exempt organizations, ...
The IRS is now accepting renewal applications for the ITINs set to expire at the end of 2017. The agency urges taxpayers affected by changes to the ITIN program to submit their renewal applications ...
The IRS, state tax agencies and the tax industry today warned tax professionals to beware of phishing emails purporting to be from a tax software education provider and seeking extensive amounts of sensitive ...
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