IRS Delays Deadlines for Individual Tax Returns

Yesterday, the Treasury Secretary announced a delay in the payment deadlines for 2019 tax returns. Normally, balances owed on your 2019 tax return must be paid by April 15, 2020 to avoid late payment penalties and interest. The announcement pushed that deadline to July 15, 2020 with no late payment penalties or interest. Here’s what […]

New 2019 Pension and Social Security Limits

The IRS recently announced 2019 limits for certain pension and retirement plan contribution limits, and changes to Social Security limits. 2019 Social Security: Cost of Living Increase                                        2.8% FICA Wage Limit:                                           $132,900 Earnings Limit if drawing before age 66         $  17,640 2019 IRA Traditional & Roth IRA Limit                           $   6,000 Over age 49 […]