The IRS has 10 important tips for you about setting aside money for your retirement in an Individual Retirement Arrangement. 1. You must be under age 70 1/2 at the end of the tax year in order to contribute to a traditional IRA. 2. You must have taxable compensation to contribute to an IRA. This includes income [...]
Archive for category Individual Retirement Arrangement
WASHINGTON — Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2012 and the years ahead, according to the Internal Revenue Service. The saver’s credit helps offset part of the first $2,000 workers voluntarily contribute to IRAs and to 401(k) plans and similar workplace retirement [...]
WASHINGTON — The Internal Revenue Service today announced that the spring 2012 issue of the Statistics of Income Bulletin is available to the general public. This issue features information on high-income individual income tax returns filed for tax year 2009. Taxpayers filed more than 3.9 million returns with adjusted gross incomes of $200,000 or more. [...]
You have two extra days this year to make contributions to your Individual Retirement Arrangements. That’s because April 15 falls on a weekend and Emancipation Day, a legal holiday in the District of Columbia, will be observed on Monday, April 16. That means the due date for filing your tax return and making contributions to [...]
