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Disaster tax relief for Illinois storm victims The IRS has announced a new tax relief initiative for individuals and businesses impacted by the severe storms, tornadoes, straight-line winds, and flooding that struck parts of Illinois beginning on July 13, 2024. Under this relief program, affected taxpayers will now have unti...
Disclaimer This article is for informational purposes only and does not constitute legal advice. Always consult with a tax professional for your specific circumstances. Pa...
Are you dreaming of retiring on a sun-soaked beach in Bali or spending your late years as a self-professed sommelier in a quaint Italian village? Perhaps you're an American who worked abroad or you have lived as a permanent resident with overseas retirement accounts. Or it could just be that you’re in the process of planning f...
Some Americans may experience lower federal income taxes in 2025 due to the annual bracket adjustment by the IRS. However, the relief may be less significant compared to the adjustments in the last two years. Overview of 2025 tax bracket adjustments The IRS typically releases its new tax brackets each fall, but fin...
Every US resident has to file an annual individual tax return. However, if you have been a US resident even for a part of a calendar year, you’ll still need to file a return. People who have been both residents and non-residents in the US during the same calendar year are called dual-status aliens. Dual-status aliens’ filing differs f...
Disclaimer This article is for informational purposes only and does not constitute legal advice. Always consult with a tax professional for your specific circumstances. As...