IRS expands relief from underpayment penalty

IRS Tax News – IRS expands relief from underpayment penalty The IRS announced that it is lowering from 85% to 80% the amount taxpayers are required to have paid in order to escape an underpayment of estimated income tax penalty for 2018. Source: IRS...

Average Income Tends to Rise with Age

Tax Policy – Average Income Tends to Rise with Age A commonly overlooked reason for the difference in income levels among taxpayers is the life cycle issue. As we mature and gain work experience, our incomes tend to rise; income typically peaks when we...