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The 2023 contribution limit for a 401(k) plan is $22,500, up from $20,500 in 2022 and those 50 and older get an extra $7,500, up from $6,500 in 2022. Contributing to a tax-deferred retirement ...
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If you have a long-term care insurance policy, you can also deduct a portion of the premiums you pay for that coverage based on your age — up to $1,630 in 2020 for ages 51 to 60, up to $4,350 ...
The complication of applying tax codes and the risk of being taken advantage of by paid tax preparation services is diminished with the presence of over 4,000 nation-wide VITA sites. One of the focal points of VITA is raising taxpayer awareness and receipt of the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC).
In that year, the first Chico Board of Trustees was established. [3] This body was the predecessor of the modern Chico City Council, and its president acted as mayor. The first municipal election was February 5, 1872 with 217 votes cast for trustees elected at-large. [3] Municipal elections were annual and the term for a trustee was two years.
Tax preparation may also be done by a licensed professional such as an attorney, certified public accountant or enrolled agent, or by an unlicensed tax preparation business. Because United States income tax laws are considered to be complicated, many taxpayers seek outside assistance with taxes (53.5% of individual tax returns in 2016 were ...
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In the United States, Tax Day is the day on which individual income tax returns are due to be submitted to the federal government. [3] Since 1955, Tax Day has typically fallen on or just after April 15. Tax Day was first introduced in 1913, when the Sixteenth Amendment was ratified.