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If you’re one of the roughly 15 million taxpayers who asked the Internal Revenue Service for an extension on filing your federal taxes in April, time’s almost up. The federal tax extension deadline hits Oct. 15. By submitting Form 4868 as of April 15, you gave yourself an extra six months to file ...

Are you self-employed? The ranks are swelling thanks in part to the “gig economy.” According to Bureau of Labor Statistics (BLS) data from July, about 16 million Americans currently are self-employed. And a recent Pew Research Center report found that self-employed taxpayers and their workers ...

December 1, 2017 – Effective January 1, 2018, the minimum hourly wage will increase to $9.25 an hour. This is the final scheduled increase provided for in Public Act 138, the Workforce Opportunity Wage Act of 2014. Any future adjustments after January 2018 shall not exceed 3.5 percent and will be ...

As we try to finish up the 2018 tax return filing season, it might be of some comfort to think that 2019 tax returns will not involve too much new that we did not encounter in 2018. In general, that is true, although we still have some uncertainty even at this point hanging over 2018 tax returns, ...

Summer will soon be fading out of view and, like it or not, 2019 will move toward a close. So what exactly have you done to withhold more money out of your paycheck to cover that 2019 tax bill? If you need a motivator, the Internal Revenue Service has launched its much-anticipated new Tax ...

If you heard that millions of people tried performing surgery on themselves every year, you’d likely be aghast or at least perplexed that people would take such a chance at something so complex. Well, every year, millions of taxpayers decide to perform complex tax preparation by themselves and, ...

Summer will soon be fading out of view and, like it or not, 2019 will move toward a close. So what exactly have you done to withhold more money out of your paycheck to cover that 2019 tax bill? If you need a motivator, the Internal Revenue Service has launched its much-anticipated new Tax ...

IR-2019-98, May 31, 2019 WASHINGTON –The Internal Revenue Service issued a draft of the 2020 Form W-4, Employee's Withholding Allowance Certificate (PDF), that will make accurate withholding easier for employees starting next year. The revised form implements changes made following the 2017 Tax ...

It’s almost time to start back-to-school shopping. The Minnesota Department of Revenue reminds families that most school supplies qualify for valuable K-12 tax benefits on their 2019 Minnesota income tax returns. “Every year, parents across Minnesota invest in their children’s education by ...

More than 10,000 cryptocurrency investors face a decision as they open letters from the Internal Revenue Service informing them that they may owe taxes on their digital holdings. Should they quickly file amended tax returns correcting prior omissions or mistakes and hope that’s enough to avert an ...