A new IRS program set to take effect next spring may make it harder to tell which of those dubious phone calls many people get about outstanding tax bills are actually fake. The agency announced this week that it’s hired four private debt-collection firms to search America’s couch cushions for overdue federal taxes: ConServe, based [...]
You likely aren’t interested in raising your tax bill, but if you use bad judgment or make a serious error on your tax return, that’s exactly what will happen when the IRS hits you with a penalty. But hey, at least you won’t be alone: The federal agency imposed almost 32 million civil penalties amounting [...]
Small-business owners are especially vulnerable to a dangerous investment practice: under-diversification. For many, their business represents the lion's share of their net worth. With fortunes riding largely on the success or failure of a single business in a single industry, business owners are exposed to heightened levels of investment risk. Recognizing that risk and understanding [...]
When you change jobs, it may be tempting to cash out your 401(k) plan. But doing this could derail your retirement savings just when it’s important to keep your money growing tax-deferred. Rolling over your assets to an individual retirement account (IRA) is one of the most popular options available to help keep your money [...]
