Form 1099-K is an IRS information return used to report certain payment transactions for goods and services. It is not a new form, but legislation changes in March 2021 significantly decreased the filing threshold that was scheduled to be implemented for the tax year 2022. The IRS has delayed the change in the filing threshold […]
After years of numerous delays, the U.S. Department of Homeland Security has once again extended the REAL ID enforcement deadline from May 3, 2023, until May 7, 2025. What is a REAL ID? A REAL ID is a type of enhanced identification card. The REAL ID Act, passed by Congress in 2005, set minimum security […]
The SECURE 2.0 legislation included in the $1.7 trillion appropriations bill passed late last year builds on changes established by the original Setting Every Community Up for Retirement Enhancement Act (SECURE 1.0) enacted in 2019. SECURE 2.0 includes significant changes to the rules that apply to required minimum distributions from IRAs and employer retirement plans. […]
Every year, the College Board releases new college cost data and trends in its annual report. The figures published are average cost figures based on a survey of approximately 4,000 colleges across the country. Over the past 20 years, the average price for tuition, fees, and room and board has increased 46% at public colleges […]
Long-term bonds generally provide higher yields than short-term bonds, because investors demand higher returns to compensate for the risk of lending money over a longer period. Occasionally, however, this relationship flips, and investors are willing to accept lower yields in return for the relative safety of longer-term bonds. This is called a yield curve inversion […]
