2015

When Will I Get My Employer W2, Investments 1099, Mortgage 1098 and Other Tax Return Forms and Filing Documents for 2016 Tax Filing in 2017

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[Updated for 2016-2017 tax season] Before we file our tax returns there are a number of forms we need to receive from our employers, financial institutions and other entities we make money from, conducted financial transactions or did business with. Below are estimated time frames for when we can expect to receive some of these common income tax forms for the current […]

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2018 vs 2017 Cost of Living Adjustment (COLA), Social Security and Medicare Tax Rates

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[2018 COLA Increase] The Social Security Administration (SSA) has announced a relatively large 2% Cost of Living Adjustment (COLA) for 2018. Benefits like Social Security or Supplemental Security income, that are tied to COLA will reflect the 2% increase in January 2018. The increase is equivalent to about $27 more a month or $329 a year […]

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2018 Military Pay Charts Reflecting Latest Raise – Updated Monthly Basic Pay Tables

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[2018 update] In his first year of office President Trump approved a 2.4% pay raise for Military staff and troops under the Fiscal 2018 National Defense Authorization Act (NDAA). This is the largest annual increase service members have received since 2010.The updated basic pay tables reflect this across the board raise effective from January 2018. Unlike the relatively […]

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2018 Pay Raise Approved for Federal Employees on GS Pay Scale

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[Updated 2018 GS pay chart] In his first year of office President Trump has approved an across the board 1.4% 2018 pay rise for the over 1.5 million government employees on the GS pay scale. In addition to this a 0.5% locality pay adjustment is being made to bring the total pay rise to 1.9% for […]

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2017, 2016 and 2015 Earned Income Tax Credit (EIC) Qualification Income Limits

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[Updated] Below are the final IRS published 2016 and 2017 Earned Income Tax credit (EITC) figures. You can reference IRS publication 596 or use online tax providers like TurboTax or H&R Block to get a free estimate of the specific credit amount you would get. How to read the EITC tables: The maximum earned income credit allowed/payable for the given tax year is […]

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2017 vs 2018 401k, 403b, 457 and TSP Contribution Limits and Catch-up Amounts

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[Updated with the latest 2018 contribution limits] The IRS has released updated employer sponsored retirement plan limits, which covers 401(k), 403(b), 457 and Government Thrift Savings (TSP) plans. The annual contribution limit, which is indexed to inflation increased by $500 in 2018. This means the maximum amount employees will be able to contribute on a pre-tax basis in […]

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2017 vs. 2018 Federal IRS Tax Brackets, Tax Rates, Standard Deduction and Personal Exemption Updates

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[GOP/Trump 2018 tax reform update] Below are the updated tax brackets next year following passage of the Trump/GOP tax reform bill. These tax brackets and income thresholds supersede the 2018 IRS tax brackets published in the earlier updates below. Note that the updated tax rates and brackets would only apply for the 2018 tax year […]

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2016 Marketplace Health Insurance Plans & Prices Rising Under Obamacare (Affordable Care Act)

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[2016 updates] 2016 health insurance premiums under the state and federal health care system (Affordable Care Act) are rising. No doubt about that. The question is by how much. Recent reports and have a broad range (from 6% to 15%) as health insurance companies have started submitting requests to the regulator (insurance commissions) for big price increases in […]

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IRS Average Tax Refund

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[Updated with latest refund details] As of April 13th, the Internal Revenue Service (IRS) has said it has received more than 115 million tax returns, with more than 95% of those returns filed electronically and over 80% of those returns resulting in refunds. The IRS generally receives over 140 million returns over the tax season. The IRS also […]

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A $2000 Paycheck Credit Bonus in 2015 and Other Middle Class Tax Breaks

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In a push to reengage their voting base Democrats have proposed a $2000 paycheck credit bonus as part of a wide ranging middle-class tax credits proposal. The paycheck credit proposal, architected by House Rep. Chris Van Hollen (D-Md.), would only be available to middle class Americans, which are defined as couples earning less than $200,000 […]

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