Category Archives: Uncategorized
The Average IRA Balance for a Person Approaching Retirement in 2026
How does your IRA balance compare as retirement approaches? See the latest average and median retirement savings by age, including traditional and Roth IRA benchmarks for 2026.
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Are Trump Account Contributions Subject to Gift Tax? What the IRS Says
Trump Account contributions may qualify for the annual gift tax exclusion under new IRS safe harbor guidance for individual donors. This guide explains when Form 709 is not required, how the $19,000 annual exclusion applies, and what happens if gifts to a child exceed the limit.
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What are the IRS Fillable Forms?
The tax season can be stressful, requiring the gathering of information, completing documents, and adhering to deadlines. IRS Free File Fillable Forms can offer a no-cost option, especially if you, the taxpayer, know what you’re doing. However, this program isn’t for everyone. Before deciding if Free File Fillable Forms are helpful for your situation, it’s a good idea to understand what they are and how they work, and if there are easier—and smarter—filing solutions. The Many Methods of Tax Filing If you Google “IRS Free Fillable Forms,” you’ll get more information than you bargained for on this and related
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Are My Alimony Payments Tax Deductible or Taxable Income? A 2026 Guide
Alimony tax rules depend on when your divorce or separation agreement was finalized. This 2026 guide explains when alimony is deductible, when it must be reported as income, and how child support is treated differently.
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How to Verify Your Identity with the IRS: AGI, Self-Select PIN, and IP PIN
The IRS requires identity verification before an e-filed tax return can be accepted, usually through your prior-year AGI, a Self-Select PIN, or an IRS-issued IP PIN. This guide explains what each option means, when to use it, and how to retrieve the information you need.
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Adopting a Child: What the Adoption Tax Credit Means to You, Updated for 2026
The adoption tax credit can help offset qualified adoption expenses, including agency fees, court costs, attorney fees, travel, and lodging. This updated 2026 guide explains the credit amount, income limits, refundability rules, and how adoptive parents can claim it.
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How the 2018 Tax Reform Bill Simplified the Filing Process, and Where It Stands Today
The 2018 tax reform bill was designed to simplify filing by expanding the standard deduction and reducing the need for many taxpayers to itemize. This guide explains what changed, what became permanent, and how new 2026 tax rules may affect your return.
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The Affordable Care Act and Your Taxes: What to Know in 2026
ACA tax rules changed for 2026 after enhanced premium tax credits expired, affecting subsidy eligibility, repayments, and Marketplace coverage costs. This guide explains how the premium tax credit works, which forms you need, and what to know before filing.
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Trump Accounts: Tax Benefits and What Families Should Know
Trump Account tax benefits include tax-free investment growth until withdrawal and a one-time $1,000 federal deposit for eligible children. This guide explains who qualifies, how contributions work, and how Trump Accounts compare with 529 plans and Roth IRAs.
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How to File an Amended Tax Return: 2026 Update
You may need to file an amended tax return if your original return had a substantive error involving income, deductions, credits, filing status, or dependents. This guide explains when to use Form 1040-X, how long you have to amend, and what to expect after filing.
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