The gift tax limit for gifts given in 2024 has risen to $18,000 (from $17,000 last year). This is one of ... the loan generally isn't taxable as long as the policy remains in force and the loan ...

The economy rebounded strongly from the COVID shock, but the U.S. continues to grapple with a cost-of-living crisis and ...

Taxpayers who proactively disclose their previously unreported income often receive more lenient treatment from the IRS ...

IRS Tax Attorney Steven A. Leahy of the Law Office of Steven A. Leahy, PC with Opem Tax Advocates joins the program to answer listener ...

As the new year kicks off, so do the responsibilities of tax season. With the IRS announcing the start date for 2025 tax ...

Most filers who submit their returns digitally receive their refunds within 21 days, but paper filers will have to wait for ...

Audits from the IRS are a nervewracking prospect for many Americans, but being informed about what they actually entail might help ease your mind.

President Joe Biden's tenure in the White House is ending with a gulf between his policy record and his public reputation.

If you do get audited, Garofalo said it’s going to be an annoying task no matter what. Sloppy records might mean it’s a 30-hour task instead of a six-hour one, but that might be a risk you’re willing ...

Dear Savvy Senior, Is there a rule of thumb on how long someone should keep their old financial paperwork? I have file ...

April 15, 2025, is the filing deadline for federal taxes. That's on a Tuesday this year. If you fail to file or pay your federal tax return on time, the standard penalty is a whopping 5% of any tax ...

As we get older and our financial life gets more complicated, it’s difficult to know how long to keep old financial records and ... card statements that do not have a tax-related expense on ...