The Internal Revenue Service (IRS) has announced that taxpayers who have not yet filed their 2021 tax returns may forfeit their Recovery Rebate Credit (RRC), potentially losing out on refunds of up to $1,400 per individual. To claim this credit, eligible individuals must file their 2021 tax returns by April 15, 2025. Understanding the Recovery … Read more
The Social Security Administration (SSA) has recently announced an important update that will impact a significant number of applicants. In a move to modernize and improve efficiency, the SSA revealed that physical signatures will no longer be required for more than 30 forms. Instead, digital signatures will be accepted, and for 13 specific forms, no … Read more
Social Security benefits are a vital source of income for many retirees, but it’s essential to understand that these benefits may be subject to federal income taxes. The extent of taxation depends on your total income and filing status. Determining Taxable Social Security Benefits To assess whether your Social Security benefits are taxable, calculate your … Read more