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The Internal Revenue Service announced Thursday that its experimental Direct File free tax-filing option for simplified tax returns would become a permanent option starting next year.
For tax-filing season 2024, the IRS announced a pilot of Direct File, where people can calculate and submit their federal taxes and some state taxes in partnership with select state tax agencies for free. This initiative came as a result of the 2022 Inflation Reduction Act, signed into law by President Joe Biden. [5]
At the end of 2022, Tumblr announced a livestreaming service called Tumblr Live. [57] Tumblr Live was an adapted version of The Meet Group 's product Livebox. [ 58 ] In 2024, Tumblr announced that they would be discontinuing Tumblr Live as of January 24, with options for users to migrate to MeetMe .
This information is used by the employee when they complete their individual tax return using Form 1040. [3] When an employee prepares their individual tax return for a tax year, the withholding amount from Form W-2 is subtracted from the tax due. It is possible to receive a refund from the IRS if more income was withheld than necessary. [3]
The tax credits with the highest market value are for grid energy storage. [188] The next month, the Times reported that the IRS had received from about 500 companies registrations of more than 45,500 projects attached to direct pay or possible small business sales of the IRA's energy tax credits, up from only about 1,000 in January. [189]
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
The central bank drove up interest rates between 2022 and 2023 to the 5.25%-5.50% range to bring down high inflation, causing US homebuilder stocks surge on hopes for demand boost after Fed rate ...
The United States Supreme Court has ruled that requiring a person to declare income on a federal income tax return does not violate an individual's right to remain silent, [2] although the privilege may apply to allow the person to refrain from revealing the source of the income.
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