Tax Day 2024 and How to Get an Extension from the IRS
Tax Day is on Monday, Apr 15, 2024. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!
It finally happened. There was a tax deal! Congress settled half of the giant cloud of uncertainty strangely named the "Fiscal Cliff." Thankfully, most of the uncertainty is past. This post will be a short summary of the changes you can expect for 2013 in the way of payroll and tax laws. I'll have some suggestions and warnings as well for some of these issues.
It finally happened. There was a tax deal! Congress settled half of the giant cloud of uncertainty strangely named the 'Fiscal Cliff.' As a tax professional, I am charged with helping my clients navigate through the confusing web of tax laws created by Congress to make sure they pay only as much tax as they are required to. For many, that means planning months and years ahead for certain events that are about to take place to make sure correct decisions are made. How are we supposed to do that when Congress can't even decide what the tax law is going to look like? Thankfully, most of the uncertainty is past. This post will be a short summary of the changes you can expect for 2013 in the way of payroll and tax laws. I'll have some suggestions and warnings as well for some of these issues.
There are of course many more changes. Check with your tax adviser to see which of them affect you directly. You may need to adjust your W-4 form. Remember, the ultimate goal is to have your payments (withholding) match your liability (calculated on your tax return) so that your refund or amount owed is as close to zero as possible. You can always use the free calculators at PaycheckCity to see what your check will look like under the new tax laws or under different withholding scenarios.
Tax Day is on Monday, Apr 15, 2024. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!
IRS has updated tax brackets for 2024. See how this affects your first paycheck this year!
Check out the updated 2024 Federal benefit limits for 401(k), HSA, and simple IRA, and more. Stay informed and plan your finances with confidence!