Amended returns by e-filing are allowed for direct deposit
The IRS announced that people electronically filing Form 1040-X (Amended U.S Individual Income Tax Return) will be able to select direct deposit for any resulting refund. Previously, taxpayers who filed Form 1040-X with had to wait for a paper check...
The age for required minimum distributions rises
There is a term Required Minimum Distribution (RMD) in retirement account. This is to prevent the intention to avoid tax obligations through financial products with tax benefits. It means that when you reach a certain age, don’t delay it anymore...
The filing of 2022 tax return has started on Jan 23 (Deadline on Apr 18)
The IRS is now accepting and processing 2022 tax returns. Taxpayers have to file their taxes until April 18 this year, but some taxpayers living overseas and disaster victims may have later filing deadlines. Alabama, California and Georgia storm victims...