What Is the Restoration of Benefits Provision in a 401(k)?
Learn about the 401(k) restoration of benefits provision, a feature for rehired employees to reclaim forfeited employer funds by repaying a prior distribution.
Investment and Financial Markets
What Is Regulation Q and Why Was It Repealed?
Understand the historic banking rule that shaped deposit interest for decades and how its repeal created today’s competitive account landscape.
What Is Paid-Up Capital and How Is It Calculated?
Learn how paid-up capital reflects the funds received from shareholders, providing a key measure of a company’s financial base and overall solvency.
Solo 401k vs. SIMPLE IRA: Which Plan Should You Choose?
Understand the key trade-offs between a Solo 401k and SIMPLE IRA, from maximum savings potential to how each plan adapts to future business growth.
How Long to Keep Tax Returns After Death?
Settling an estate requires careful management of the deceased’s tax history. Learn about your obligations to ensure proper financial closure.
How to File a Form 1023 Expedited Handling Request
Understand the specific circumstances under which the IRS grants an expedited review for a Form 1023 and how to properly submit the formal request.
GASB 87 Exclusions From Lease Accounting
Understand the specific arrangements excluded from GASB 87’s lease accounting model to ensure accurate government financial reporting and compliance.
What Happened to the IRS Personal Exemption?
The personal exemption was once a key tax deduction. Understand the tax code’s shift to new relief methods and where the old rules may still apply.
Rev. Proc. 98-67: Fixing a Retirement Loan Default
A defaulted retirement plan loan can create immediate tax issues. Learn the formal correction process and deadlines to reinstate your loan and avoid penalties.
What Happened to the Hope Scholarship Tax Credit?
The Hope Scholarship Tax Credit has evolved into the American Opportunity Tax Credit, a federal benefit for offsetting postsecondary education costs.
What Is the 48C Inflation Reduction Act Tax Credit?
Explore the 48C tax credit, an allocation-based incentive for advanced energy projects that meet specific technical, labor, and community criteria.
Provisions of the Pending U.S.-Brazil Tax Treaty
The pending U.S.-Brazil tax agreement establishes a framework for defining tax residency, allocating taxing rights, and providing relief from double taxation.
How Much Tax Should I Expect to Pay in Michigan?
Understand how state and local levies in Michigan are calculated based on your unique financial situation, including where you live, work, and spend.
How Does Depreciation Cause a Reduction in Basis?
Your asset’s basis isn’t static. Explore how depreciation deductions lower its value over time, a key factor in determining your taxable gain upon its sale.
How to Transfer a 529 Plan to Another Child
Transferring a 529 plan to a new beneficiary involves specific rules to maintain its tax-advantaged status. Learn the requirements for a qualified change.
How to Make the 2632(c) Election on Form 709
A guide to the strategic decisions and filing mechanics for managing the automatic allocation of your GST exemption with a 2632(c) election on Form 709.
Where Is Non-Taxable Income on a Form 1040?
Understand the rules for non-taxable income. While often excluded from Form 1040, some items must be reported to calculate tax or for informational filing.
Notice CP3219A: What It Is and How to Respond
Notice CP3219A is a formal tax proposal, not a final bill. Learn to interpret its contents and understand the procedural paths for your response.
Can You Sell Tax Credits? Here’s How It Works
Discover how businesses can convert federal tax credits into direct capital through a structured transfer, enabling project financing and tax liability management.
What Is the Head of Household Filing Status?
For unmarried taxpayers providing for a household, this filing status has unique rules that can alter your tax liability compared to filing as single.