New Jersey State

Columbus, OH

FinanceBuzz

Whether you're filing your own taxes or you are a professional, understanding what income the IRS doesn’t tax can be very helpful. Here are 10 types of earnings that are not taxed.

10 Types of Income the IRS Will Not Tax in 2024 (Thankfully!)

Retirement Daily

Confused about estimated taxes? See how withholding can simplify your retirement.

Estimated Taxes vs. Withholding: What Retirees Need to Know

NJ Spotlight

New Jersey’s ‘annual sales tax holiday’ lasted just two years. While many families are readying for back-to-school shopping amid a period of stubborn inflation, New Jersey is no longer offering a tax break to ease the burden for students and parents gearing up for a new school year.

Tax holiday on back-to-school supplies is halted

Last week, the IRS confirmed that most nonspouse beneficiaries have 10 years to deplete inherited retirement accounts and must take yearly required minimum distributions, or RMDs. The rule applies to accounts inherited since 2020 if the original account owner had already started RMDs. However, you could save on taxes by...

IRS issues final rules for inherited IRAs — but many are 'missing the boat' on taxes, pro says

TheStreet

There are different types of IRS tax penalty abatement and relief, and they can apply differently depending on the type of penalty you receive.

IRS tax penalty abatement and relief

New rule changes by the IRS could give some consumers a chance to pull from their retirement savings early. The Internal Revenue Service says it's okay to use 401k funds for certain emergencies.

New IRS Rules Allow Early 401(k) Withdrawals for Specific Emergencies

New York City, NY

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

writer

Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

McPhersonBuzz News

How Much Will I Get? When Can I Expect My Check? According to Marca, Many families are getting ready to receive a big check from the government. The check is part of a program called the Estate Child Tax Credit. This program helps families with young children by giving them extra money to help take […]

Get Ready for a Big Check: Understanding the Estate Child Tax Credit

You can now avoid RMDs if you're using a Roth 401(k). If you inherit an IRA, you may be able to delay your RMDs. You can avoid taxes on your RMDs with this clever distribution option. If you don't know the rules, it could cost you thousands in taxes and...

3 New Required Minimum Distribution (RMD) Rules Everyone Needs to Know About in 2024

The federal government taxes a portion of Social Security benefits if your income exceeds certain thresholds. Retirees in nine states may be subject to additional income taxes from their state government. With advance planning, it is often possible to reduce the amount of state taxes that you will owe. Social...

Retirees in These 9 States Risk Losing Some of Their Social Security Checks

The Treasury Department and the Internal Revenue Service (IRS) have issued updated guidance on required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and other retirement plans. These final regulations, which align closely with the proposed rules from 2022, reflect changes introduced by the SECURE Act and the SECURE 2.0 Act.

Treasury and IRS Update RMD Regulations for IRAs and Retirement Plans

Butler, PA

AP photographer Evan Vucci's photo captured a moment in history like other images before it. By now, we’ve all seen the footage — former President Donald Trump at the podium speaking at a rally in Butler, Pennsylvania. Then, a quick succession of popping sounds. Trump flinches, grabs his ear, and drops to the floor, out of camera view. Secret Service agents pounce on him. Gasps from the crowd ring out, and some in the crowd duck, while others swivel their heads, looking for the direction of the shooter. Moments later, agents help Trump to his feet. He then pumps his fist in the air, blood dripping from his right ear. Surrounded by a cocoon of black suits, Trump mouths the word “fight” three times before agents hurry him offstage to an awaiting vehicle.

Why one photo of Trump assassination attempt stands out

CBS News

Project 2025, a 900-page blueprint for the next Republican president, is gaining attention for its proposals to overhaul the federal government. Among those changes: a major restructuring of the U.S. tax code. President Biden and Democrats have been citing Project 2025 in recent weeks as they seek to highlight what could be in store if former President Donald Trump wins at the polls in November and retakes the White House in January.  Many of the blueprint's proposals touch on economic matters that could impact millions of Americans, as well as social issues such as abortion and diversity, equity and inclusion, or...

Project 2025 would overhaul U.S. taxes. Here's the impact for you.

Virginia State

In Virginia, Drinking in public or offering another person alcohol in a public space is prohibited. This is a class 4 Misdemeanor punishable by a fine of up to $250.00. Under a new law that goes into effect on July 1, this will change to a degree.WDBJ7 reports that the prohibition on drinking or offering an alcoholic beverage to someone else in public will no longer apply under the following conditions.

Drinking in public will no longer be prohibited on private Campgrounds in Virginia beginning July 1

Families across America are set to get a financial boost. This comes from the government's new initiative. The Child Tax Credit program will hand out $300 every month. This effort aims to help low and moderate-income families. These funds are for critical needs like schooling and food. It's a key step in the nation's drive for economic stability.

Who's Eligible for the New Child Tax Credit Payments in America? Uncover If You Can Get $300 a Month!

July Marks a Milestone for IRS Tax Credits Payment Schedule. July is set to bring pivotal adjustments to how taxpayers navigate IRS tax credits and their corresponding payment schedules. With the second half of the year kicking in, these changes directly impact anyone looking to leverage tax credits to their financial advantage. Officials have streamlined processes, introducing a system designed to ease the tax burden on a broad spectrum of individuals and families.

What Changes Are Coming in July for the IRS Tax Credits Payment Schedule?

California State

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

The HD Post

CALIFORNIA – Plaintiffs, in a case against Wells Fargo alleging that the bank knowingly took part in a marketing scam, asked the court, July 8, not to grant a motion for summary judgment.

Class action lawsuit says Wells Fargo customers lost over $160 Million

The IRS will soon issue tax refunds to help with expenses, while upcoming changes to Social Security work credits and proposed tax reforms in “Project 2025” could affect your retirement planning and financial stability. IRS Tax Refunds Coming Soon – What You Need to Know About Social Security Work Credits and 2025 COLA According to […]

$1,730 to Earn One Credit: IRS Tax Refunds, Social Security Work Credits, and “Project 2025” Tax Reforms – What You Need to Know!

Illinois State

Chicago, IL

Foodie in Chicago

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

NewsBreak

New way to file federal income tax returns, free and easy

More than 1 million NJ residents could be eligible for ‘Direct File,’ starting next year. Many New Jersey residents will soon have a new way to...

New way to file federal income tax returns, free and easy

Comments / 0