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It can be logical to assume that because you've moved out of the country, you no longer have to pay taxes on any money you earn. It can be logical... but it is also incorrect. Nearly all United States citizens must file a Federal Tax Return every year. This is true...

June 15 - Employer’s Monthly Deposit Due If you are an employer and the monthly deposit rules apply, June 15 is the due date for you to make your deposit of Social Security, Medicare and withheld income tax for May 2023. This is also the due date for the non-payroll...

June 12 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during May, you are required to report them to your employer on IRS Form 4070 no later than June 10. Your employer is required to withhold FICA taxes and...

Article Highlights: Flexible Spending Accounts Common Features of an FSA FSA Allowable Medical Expenses Unused Amounts (Use It or Lose It) HealthSavings Accounts Enrolled in Medicare Covered Under a High-deductible Health Plan HSAContributions and Contribution Limits...

Article Highlights: General statute is 3 years Some states are longer Fraud, failure to file and other issues can extend the statute Keeping the actual return Taxpayers often question how long records must be kept and the amount of time IRS has to audit a return after...

Article Highlights: Early-Withdrawal Penalties Reduction in Retirement Savings  Exceptions from the Early-Withdrawal Penalty If you find yourself looking for a quick source of cash, your retirement savings may look like a tempting option. However, if you are...