Biden says wealthy should pay ‘fair share’ to Social Security
U.S. President Joe Biden delivers his third State of the Union address in the House Chamber of the U.S. Capitol in Washington, D.C., on March 7, 2024. Shawn Thew | …
Personal taxes
What to expect in 2024 State of the Union
President Joe Biden delivers the State of the Union address to a joint session of Congress on Feb. 7, 2023 Pool | Getty Images How Democrats propose tackling Social Security’s …
Millionaires reach limit for Social Security payroll taxes for 2024
Ezra Bailey | Getty Images Most Americans can expect to pay Social Security payroll taxes throughout 2024. But for top earners with gross annual wage income of $1 million, March …
Why Social Security beneficiaries may owe more taxes on benefits
Alistair Berg | Digitalvision | Getty Images A record 8.7% cost-of-living adjustment helped Social Security beneficiaries stave off the effects of inflation in 2023. But as they file their federal …
Betting on the Super Bowl? Be sure to report your wins to the IRS
Travis Kelce of the Kansas City Chiefs, left, and George Kittle of the San Francisco 49ers stand on stage during the NFL’s Super Bowl Opening Night show at Allegiant Stadium …
Limiting retirement plan tax perks may help Social Security, experts say
Wand_prapan | Istock | Getty Images There’s no debate that Social Security’s funds — which are projected to become insolvent in the next decade — need fixing. But a new …
Here’s what to know about the free IRS Direct File tax filing program
IRS Commissioner Daniel Werfel testifies before a Senate Finance Committee hearing on Feb. 15, 2023. Kevin Lamarque | Reuters As the tax season kicks off next week, Americans have several …
Improving earned income tax credit is a ‘no brainer’
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., at the UK Global Investment Summit at Hampton Court Palace in London, UK, on Monday, Nov. 27, 2023. Chris Ratcliffe …
Bipartisan tax deal could boost child tax credit for 2023
How much the credit could be worth for families While less generous than the enhanced child tax credit enacted during the Covid-19 pandemic, the changes would boost the maximum refundable …
The fourth quarter estimated tax deadline is Jan. 16
Westend61 | Westend61 | Getty Images The fourth-quarter estimated tax deadline is Jan. 16, and you could have a surprise bill or owe a penalty if you don’t send a …