Category: Taxes for Individuals

New “kiddie” tax legislation passed at the end of 2019 eliminates a provision that increased the tax a child had to pay on unearned income. Here’s the scoop.

Here are some changes you should know about when filing your 2019 tax returns.

The Internal Revenue Service’s audit rate dropped to 0.45% of individual returns in fiscal 2019. However, the audit rate was higher for people with low incomes and those earning more than $500,000.

Deep inside legislation passed in late 2019 is a provision that broadens the acceptable use of 529 college savings plan funds.