The Confederated Tribes of Warm Springs secured a $2 million federal grant to continue a project renovating an abandoned trailer park into stick-built homes for tribal members. The grant will pay for six new two-bedroom homes, adding to eight homes under construction from a previous federal grant in what the Warm Springs Housing Authority hopes will become a 45-unit development. The award comes from the latest round of Indian Community Development Block Grant program funding through the U.S. Department of Housing and Urban Development, and was part of $16 million for tribal entities in Oregon, Washington and Alaska. “By supporting infrastructure and affordable housing, we are fostering resilience and sustainability within these vibrant communities,” said Andrew Lofton, northwest regional administrator for the federal housing agency, in a news release. The units will be affordable rentals — and potentially home ownership units — for households earning less than 80% of the area median income, using a formula from the U.S. Department of Housing and Urban Development to determine rent payments. While the project will provide much-needed housing, it comes with the added benefits of cleaning up an abandoned and dilapidated trailer park that became an eyesore over the years, said housing authority Director Danielle Wood. Building on the old trailer park site is advantageous because it already has water, sewer and other infrastructure that’s lacking on other parts of the Warm Springs Indian Reservation, Wood said. “We have opportunities to go and reclaim infrastructure in these abandoned lots,” she said. Network of new water pipes at Warm Springs could cost millions The federal grant adds to a larger effort to increase housing supply on the reservation and combat rising homelessness numbers. Homelessness among Native Americans and Alaska Natives has jumped by 53% since 2015, according to the National Alliance to End Homelessness. Indigenous people are about four times as likely to be homeless than average, according to the alliance. In Central Oregon, Indigenous people make up nearly 10% of the homeless population, but only 2% of the overall population, according to the 2024 Point-in-Time Count. This fall the tribes celebrated the opening of a 10-unit permanent supportive housing project in Warm Springs, funded by a $4 million grant from the Oregon Department of Housing and Community Services. Last year the tribe received two federal grants totaling nearly $10 million to build housing. The units will add to an existing stock of about 300 units owned by the Confederated Tribes of the Warm Springs. “I think it’s gonna add to what we’ve already got going,” Wood said.DXC Technology Co. stock rises Monday, still underperforms marketMumbai: 38 Shiv Sena Members Acquitted In 2005 Mob Attack Caserealme Closes 2024 with Record-Breaking Growth and Launches the Industry’s Best Waterproof Smartphone, realme C75
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ST. THOMAS, Virgin Islands (AP) — Javohn Garcia scored 16 points as McNeese beat Illinois State 76-68 on Friday. Garcia also contributed seven rebounds for the Cowboys (3-2). Brandon Murray shot 4 of 10 from the field and 5 for 7 from the line to add 13 points. Sincere Parker shot 4 for 8 (2 for 5 from 3-point range) and 3 of 4 from the free-throw line to finish with 13 points. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.British Columbia Premier David Eby says Canada's premiers and the federal government have hatched a game plan over possible U.S. tariffs, where Conservative premiers lobby their Republican counterparts and left-leaning leaders court the Democrats, while the federal government focuses on president-elect Donald Trump. Eby says the premiers and Prime Minister Justin Trudeau talked about using their political diversity and connections to approach politicians and business leaders in the United States, as talks over Trump's proposed 25 per cent tariff on imports from Canada and Mexico ramp up. He says it has been discussed that Conservative premiers Danielle Smith in Alberta, Doug Ford in Ontario and Nova Scotia's John Houston are well-placed to lobby their contacts with Republican governors and business leaders. In a year-end interview, Eby says as a New Democrat leader he will likely have more in common speaking with Democrat governors and business leaders from the West Coast states. He says Canada's diversity of representation, ranging from the right and left sides of the political spectrum, can bring leverage and advantages in tariff talks. Eby also says — if it is deemed helpful — he is prepared to appear on American's right-leaning Fox News TV network as did premiers Ford and Smith. This report by The Canadian Press was first published Dec. 5, 2024.
LONDON: Erling Haaland had a second-half penalty saved as crisis-torn Manchester City failed to end their dismal run with a 1-1 draw against lowly Everton, while title contenders Chelsea suffered a first home defeat against Fulham since 1979 on Thursday. Champions City have just one victory in their last 13 games in all competitions as their Christmas schedule started in disappointing fashion. Bernardo Silva put City in front early on before Iliman Ndiaye salvaged a point for Everton. City are languishing in seventh place and sit five points adrift of the top four, with their astonishing decline showing no sign of ending. City boss Pep Guardiola conceded ahead of the game that his troubled side are at risk of failing to qualify for the Champions League for the first time in 15 years and their latest setback was another blow to that target. “Of course we need results and we didn’t get it. The team played really good again in all departments and unfortunately could not win,” Guardiola said. “We accept it. It is life. We did not expect it to not win games many times. But what do you have to do? Continue.” Everton had kept five clean sheets in their last six games but were breached after just 14 minutes. Jeremy Doku fed Silva and his effort across goal deflected off Jarrad Branthwaite and looped beyond the helpless Jordan Pickford. Everton levelled when Manuel Akanji sliced an attempted clearance into the path of Ndiaye, who fired into the top corner for Everton’s first away goal in over two months. Seven minutes into the second half, Haaland had the chance to end his longest goal drought at the Etihad but Pickford dived low to his right to make the save. At Stamford Bridge, second-placed Chelsea were stunned by Fulham’s late fightback for a 2-1 win in a dramatic west London derby. Cole Palmer put Chelsea ahead after 16 minutes, the England forward drilling home from the edge of the area after weaving through the Fulham defense in dazzling style. But Fulham levelled with eight minutes left when Antonee Robinson’s cross was headed down by Timothy Castagne and Harry Wilson nodded in from close range. Chelsea were furious, claiming Alex Iwobi had fouled Pedro Neto in the build-up to the goal. But there was worse to come for the Blues in stoppage-time when Rodrigo Muniz converted Sasa Lukic’s pass with a clinical strike. Chelsea are four points behind leaders Liverpool, who have two games in hand and host Leicester later on Thursday. Nottingham Forest climbed to third place after a 1-0 win against spluttering Tottenham at the City Ground. Forest went ahead in the 28th minute when Anthony Elanga raced onto Morgan Gibbs-White’s pass and stroke a composed finish past Fraser Forster. Forest boss Nuno Espirito Santo had just 17 games in charge of Tottenham before being sacked in 2021. But Forest’s fourth successive win was sweet revenge for Nuno, whose former club had Djed Spence sent off in the closing moments for a second booking. Tottenham are stuck in 11th place as the pressure mounts on boss Ange Postecoglou. Newcastle swatted aside 10-man Aston Villa 3-0, moving up to fifth place after winning three consecutive league games for the first time since 2023. Anthony Gordon struck with a superb curling strike after just two minutes at St. James’ Park. Villa’s Jhon Duran was sent off in the 32nd minute for violent conduct after stamping on Newcastle’s Fabian Schar. Alexander Isak made Newcastle’s numerical advantage count in the 59th minute as the Swedish striker tapped in his seventh goal in his last six appearances. Joelinton wrapped up the points in stoppage-time with a curler from 18 yards. Jarrod Bowen’s 59th-minute goal gave West Ham a 1-0 win at bottom of the table Southampton after the visitors saw Guido Rodriguez’s red card overturned by VAR. It was a frustrating start for new Saints boss Ivan Juric, who has replaced the sacked Russell Martin. Bournemouth and Crystal Palace shared a goalless draw at the Vitality Stadium.
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Mumbai, Dec 26 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Thursday held a meeting with officials of various departments and asked them to deliver tangible results by implementing 100-day action plans. To ensure holistic development of the state, all departments are preparing 100-day action plans, an official release said here. While Fadnavis was sworn in on December 5 after the BJP-led coalition won a massive victory in assembly polls, portfolios were allocated to ministers only on December 21. The 100-day plan is expected to include people-centric schemes, initiatives that leverage technology to provide seamless benefits to citizens, and measures to ensure that Maharashtra maintains its leadership in development, the release said. Fadnavis reviewed the 100-day action plans of the Higher and Technical Education, Forest, and Agriculture departments at the meeting held at the Sahyadri state guesthouse. The Forest Department should adopt artificial intelligence and information technology to minimize conflicts between wildlife and humans, he said. He suggested the establishment of a rapid response team of trained personnel to provide swift assistance in such situations, the release said. Additionally, innovative initiatives should be permanently implemented to foster a cultural practice of tree plantation, the CM said. Fadnavis also highlighted the need to address the problems arising due to the growing leopard population in the state, by relocating the animals to sanctuaries in other states if necessary. The capacity of leopard shelters should be increased, the CM said. Fadnavis also instructed officials to formulate a policy for establishing a carbon credit company. To encourage urban afforestation, he recommended implementing the Miyawaki tree plantation method. The agriculture department was directed to make farmers the focal point of its action plan, and ensure effective implementation of relevant schemes. The Higher and Technical Education Department was asked to take steps to attract foreign universities to India and facilitate the establishment of educational campuses, the release said. (This story has not been edited by THE WEEK and is auto-generated from PTI)By Kemberley Washington, CPA, Bankrate.com (TNS) As the end of the year approaches, now’s the time to start preparing for filing your 2024 tax return in 2025. When it comes to tax strategies, generally Dec. 31 is the deadline to make changes that might lower your tax bill. One major exception is the deadline for contributing to a Roth or traditional IRA : You have until April 15, 2025, to make a contribution to a Roth or traditional IRA for tax year 2024. If you qualify for deductible IRA contributions , then a contribution to your traditional IRA can reduce your taxable income for 2024. Here are tips and strategies to prepare now for the 2025 tax-filing deadline. If you had significant changes in your life in 2024 — maybe you got married or divorced, started your own business, or had to claim unemployment benefits — your taxes may be more complicated. As a result, you might need to hire a certified public accountant (CPA), enrolled agent (EA) or other tax professional to prepare and file your taxes. If you decide to hire someone, it’s best to start planning for that sooner rather than later. Waiting until the calendar flips to April could cost you. The average fee for a professional to prepare and file a simple Form 1040 tax return, with no itemized deductions, is about $220, according to a survey by the National Society of Accountants in 2020-2021, the most recent data available. But that amount rises quickly for more complex returns, and varies depending on where you live. For example, a Form 1040 with itemized deductions costs an average of $432 in states on the Pacific Coast, compared with $285 in New England. No matter where you live, prices usually rise as the tax deadline approaches, so it’s smart to start searching for a tax pro soon. If you’re uncomfortable doing your taxes on your own and can’t afford a CPA, enrolled agent or other tax pro, or to pay for tax software , there are free options to consider. The IRS currently offers three ways to prepare your taxes for free: •With the IRS Free File program, the IRS partners with for-profit tax-software companies that offer free tax-prep software to eligible taxpayers so they can file their federal tax returns for free. Some taxpayers may also qualify for a free state tax filing, depending on the software provider. In January, the IRS will announce the income limit to qualify for the program for the 2025 tax season (for filing 2024 tax returns). For the 2024 tax season (2023 tax returns), taxpayers’ adjusted gross income (AGI) couldn’t exceed $79,000. •The IRS also offers its Direct File program, a free tool that allows you to file your federal income tax return directly with the IRS at no cost. The program supports simple tax returns and is available only in certain states. Check to see if you qualify here. •Another free-filing option is the Volunteer Income Tax Assistance (VITA) program. IRS-certified volunteers offer free basic tax preparation in person to people who earn less than $67,000 a year, are disabled or whose English is limited. The IRS has an online location tool for hundreds of free tax preparation sites in the U.S. (the locator tool is updated from February through April). Some VITA sites also offer online tax-prep assistance. Now is a good time to create an IRS online account. If you want to see your Form 1040 from last year, or you’re missing a prior year Form W-2 or mortgage interest statement, you can find your documents using this free tax tool. Another benefit of creating an IRS online account is that it allows you to quickly obtain your prior year’s tax information without sitting on the phone for hours with an IRS representative, says Carl Johnson, a certified public accountant in New Orleans. An IRS online account also lets you view your account balance and payment history for each year. You can also create a payment plan to settle your federal income tax debt within minutes. If you’re 73 years old and have enjoyed watching your 401(k) or IRA grow tax-free without touching it, remember that the IRS is going to want its share each year. That means you’ll have to make withdrawals — and pay income tax. If you turned 73 in 2024, plan to take your required minimum distribution (RMD) at the latest by April 1, 2025. Read this IRS bulletin for more information. The amount of your RMDs is based on your age and the year-end values of your retirement accounts. A Roth IRA has two big tax advantages over a traditional IRA : Qualified withdrawals are not considered income for federal (and usually state) tax purposes, and you don’t have to take distributions from a Roth every year once you reach age 73. Converting a traditional IRA to a Roth IRA may save you money in the long run. Just know that when you convert an IRA to a Roth, it’s considered taxable income, which will raise your tax bill for that year. Generally, it’s best to convert to a Roth IRA when you’re in a low-income year. As tax season approaches, many people start receiving phone calls, emails and texts from entities claiming to be the IRS. Be wary, and understand that these are scams. Typically, the IRS will mail you a notice before using any other method of communication to notify you concerning issues with your tax return. The IRS won’t reach out via social media or text messaging. Relatedly, the IRS warns taxpayers to be careful when choosing a tax preparer. Taking time to vet your tax preparer is crucial to protect yourself from tax scams and fraud. Before hiring a tax professional, search that person’s name in the IRS database of federal tax return preparers to avoid dishonest “professionals.” “Taxpayers should check the tax professional’s credentials,” Johnson says. Tax pros without credentials “may take questionable positions without any degree of scrutiny or fear of losing their access to the profession,” Johnson says. Taxpayers who don’t file a tax return and owe a tax bill, or who file but don’t pay their tax bill on time, risk severe penalties. The IRS can even seize assets if necessary. Respond quickly if the IRS has been sending you letters because it found an error on your return or claims you owe back taxes. Typically, the IRS will send you a notice if you have a balance due, changes were made to your tax return, or the agency needs additional information. “If you ignore a collection letter from the IRS, you may face wage garnishments, liens, bank levies, and other adverse action. And in some cases, the amount due may increase for failure to respond,” Johnson says. Keep in mind the IRS does offer installment plans and other payment plans. Make copies of your correspondence and use only the U.S. Postal Service, the postmark from which is your proof of timeliness when responding. But whatever you do, don’t ignore the IRS because this may cause more issues in the future. ©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.7 tips to prepare for next year’s taxes now
NEW YORK — McDonald's will expand its U.S. value menu early next year as it continues to try to win back inflation-weary customers. Starting Jan. 7, the burger chain will let customers buy one full-priced item from a limited value menu and get another item on that menu for $1. Items on the menu include a Sausage McMuffin, hash browns, a McChicken sandwich and small fries. McDonald's will also continue to offer its $5 Meal Deal through next summer. That deal, introduced in June, was extended through the end of this year. Chicago-based McDonald's said it will also continue to offer local specials and in-app deals like free drinks. As grocery price inflation has eased, McDonald's says it has seen more diners shifting to eating at home instead of going out. In October, prices for food eaten away from home were up 3.8 percent from the prior year, while prices for food eaten at home were up 1.1 percent, according to government data. McDonald's $5 Meal Deal, which was matched by rivals like Burger King, helped win back some customers. Last quarter, its U.S. sales at locations open at least a year — rose 0.3 percent from the same period a year earlier. NEW YORK — DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by the buyout target's lenders. The deal was reliant on Dish bondholders agreeing to swap their debt for debt in the new company, which would have cost them about $1.6 billion. The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September. DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of about $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish. The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns. The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink. FRANKFURT, Germany — Technology manufacturer Bosch said Nov. 22 that it plans to reduce its automotive division workforce by as many as 5,500 jobs in the next several years in another sign of the headwinds hitting the German and global vehicle industries. The company cited stagnating global auto sales, a glut of factory capacity and the slower-than-expected transition to electric-powered, software-controlled cars. Some 3,500 of the job reductions at Bosch would come before the end of 2027 and would hit the part of the company that develops advanced driver assistance and automated driving technologies, as well as centralized vehicle software, said Bosch, which is headquartered near Stuttgart. About half those job reductions would be at locations in Germany. "The auto industry has significant overcapacities," the company said in a statement. "In addition, the market for future technologies is not developing as originally expected ... At the moment, many projects in this business area are being put off or abandoned by automakers." About 230,000 workers are under Bosch's mobility division, which operates a North Charleston plant, out of a global workforce of 429,000. NEW YORK — Amazon is investing an additional $4 billion in the artificial intelligence startup Anthropic as major technology companies rush to fund generative AI. This will bring the online retailer's total investment in Anthropic to $8 billion, which represents a minority ownership stake in the year-old startup founded by former leaders of the Microsoft-linked OpenAI. Under the deal, Amazon said the San Francisco-based Anthropic will now name Amazon's cloud computing unit, Amazon Web Services, as its "primary training partner." It will also use two AWS chips to train and deploy its future foundational models, the advanced systems that underpin general-purpose AI services like ChatGPT and Google's Bard chatbot. DETROIT — Hyundai and Kia are recalling over 208,000 electric vehicles to fix a pesky problem that can cause loss of drive power, increasing the risk of a crash. The actions cover more than 145,000 Hyundai and Genesis vehicles including the 2022-24 Ioniq 5, the 2023-25 Ioniq 6, GV60 and GV70, and the 2023 and 2024 G80. Also included are nearly 63,000 Kia EV 6 vehicles from the 2022-24 model years. The affiliated Korean automakers say in government documents that a transistor in a charging control unit can be damaged and stop charging the 12-volt battery. Dealers will inspect and replace the control unit and a fuse if needed and update the software. Vehicles recalled earlier this year to fix the same problem are included. Owners will be notified by letter in December and January. ATLANTIC CITY, N.J. — Atlantic City's casinos saw their operating profits decline by nearly 14 percent in the third quarter of this year, figures released Nov. 22 by New Jersey gambling regulators show. The Division of Gaming Enforcement issued statistics showing that the nine casinos had a collective gross operating profit of $236.5 million for the July-September period, down 13.8 percent from a year earlier. It was the latest indication of how the casinos continue to struggle with economic conditions and the shift to less-profitable online gambling since the pandemic.DALLAS (AP) — The championship vision that led Nathan Eovaldi to sign with Texas as a free agent two years ago is the same one that brought him back to the Rangers. Read this article for free: Already have an account? To continue reading, please subscribe: * DALLAS (AP) — The championship vision that led Nathan Eovaldi to sign with Texas as a free agent two years ago is the same one that brought him back to the Rangers. Read unlimited articles for free today: Already have an account? DALLAS (AP) — The championship vision that led Nathan Eovaldi to sign with Texas as a free agent two years ago is the same one that brought him back to the Rangers. A World Series title in his first season was followed by a losing record this year. “I believe in the guys in the group that we have. We were able to do it in ‘23. I don’t feel a lot has changed,” Eovaldi said Friday, a day after finalizing a $75 million, three-year contract. “We had a down year last year, but I’ve said it before, you learn a lot from losing seasons.” Eovaldi had declined a $20 million player option to become a free agent again and reaching an agreement during the winter meetings in Dallas. Texas also acquired slugging corner infielder Jake Burger in a swap with Miami. Burger had fallen asleep before getting a call late Tuesday night that he had been traded to Texas, where his family was already planning to move after the October birth of a daughter with Down syndrome. “The other city that is really good other than Nashville in terms of children’s hospital and resources for her Downs is in Dallas,” Burger said. “Not just from the baseball spectrum, from the life aspect as well ... I feel like it was meant to be, and we couldn’t be more more excited about that.” In the Nashville area, Burger lives close to Rangers manager Bruce Bochy, whom he plans to visit with soon. His former Marlins manager, Skip Schumaker, was hired last month by the Rangers as as a senior adviser for baseball operations, and Luis Urueta, Miami’s bench coach the past two seasons, recently joined Bochy’s on-field coaching staff for 2025. Burger and Rangers pitcher Dane Dunning were once roommates in the Chicago White Sox organization. Burger hit .250 with 29 home runs and 76 RBIs in 137 games for the Marlins last season, when he started 59 games at third base and 50 starts at first. He was with the White Sox in Texas when he got traded to Miami on Aug. 1, 2023, and four days later hit his first homer with the Marlins at Globe Life Field. When the Rangers made the title run in 2023, Eovaldi was 5-0 with a 2.95 ERA in six postseason starts. He was the winning pitcher in their World Series-clinching Game 5 at Arizona. He was also part of Boston’s 2018 title. Eovaldi was 12-8 this year with a 3.80 ERA in 29 starts, the last seven scoreless innings in the regular-season finale. He is 24-13 with a 3.72 ERA in 54 starts for Texas the past two seasons. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. The new deal for the Texas native, who who turns 35 in February, includes a $12 million signing bonus, half payable on Nov. 15, 2026, and the rest on Jan. 15, 2028, and salaries of $18 million next season, $25 million in 2026 and $20 million in 2027. He gets a full no-trade provision. After being welcomed back by Chris Young, the Rangers president of baseball operations, the pitcher said he never felt like he really left. The Rangers stayed in contact throughout the process after he declined his option Nov. 4. “Kind of listening to the market and everything, I’m extremely happy to be back. I’m glad we were we were able to make it all work out,” Eovaldi said. “We had a lot of teams reach out right away and we were in contact with most them across the league. Ultimately we were able to make it back here.” ___ AP MLB: https://apnews.com/hub/mlb Advertisement Advertisement
By Kemberley Washington, CPA, Bankrate.com (TNS) As the end of the year approaches, now’s the time to start preparing for filing your 2024 tax return in 2025. When it comes to tax strategies, generally Dec. 31 is the deadline to make changes that might lower your tax bill. One major exception is the deadline for contributing to a Roth or traditional IRA : You have until April 15, 2025, to make a contribution to a Roth or traditional IRA for tax year 2024. If you qualify for deductible IRA contributions , then a contribution to your traditional IRA can reduce your taxable income for 2024. Here are tips and strategies to prepare now for the 2025 tax-filing deadline. If you had significant changes in your life in 2024 — maybe you got married or divorced, started your own business, or had to claim unemployment benefits — your taxes may be more complicated. As a result, you might need to hire a certified public accountant (CPA), enrolled agent (EA) or other tax professional to prepare and file your taxes. If you decide to hire someone, it’s best to start planning for that sooner rather than later. Waiting until the calendar flips to April could cost you. The average fee for a professional to prepare and file a simple Form 1040 tax return, with no itemized deductions, is about $220, according to a survey by the National Society of Accountants in 2020-2021, the most recent data available. But that amount rises quickly for more complex returns, and varies depending on where you live. For example, a Form 1040 with itemized deductions costs an average of $432 in states on the Pacific Coast, compared with $285 in New England. No matter where you live, prices usually rise as the tax deadline approaches, so it’s smart to start searching for a tax pro soon. If you’re uncomfortable doing your taxes on your own and can’t afford a CPA, enrolled agent or other tax pro, or to pay for tax software , there are free options to consider. The IRS currently offers three ways to prepare your taxes for free: •With the IRS Free File program, the IRS partners with for-profit tax-software companies that offer free tax-prep software to eligible taxpayers so they can file their federal tax returns for free. Some taxpayers may also qualify for a free state tax filing, depending on the software provider. In January, the IRS will announce the income limit to qualify for the program for the 2025 tax season (for filing 2024 tax returns). For the 2024 tax season (2023 tax returns), taxpayers’ adjusted gross income (AGI) couldn’t exceed $79,000. •The IRS also offers its Direct File program, a free tool that allows you to file your federal income tax return directly with the IRS at no cost. The program supports simple tax returns and is available only in certain states. Check to see if you qualify here. •Another free-filing option is the Volunteer Income Tax Assistance (VITA) program. IRS-certified volunteers offer free basic tax preparation in person to people who earn less than $67,000 a year, are disabled or whose English is limited. The IRS has an online location tool for hundreds of free tax preparation sites in the U.S. (the locator tool is updated from February through April). Some VITA sites also offer online tax-prep assistance. Now is a good time to create an IRS online account. If you want to see your Form 1040 from last year, or you’re missing a prior year Form W-2 or mortgage interest statement, you can find your documents using this free tax tool. Another benefit of creating an IRS online account is that it allows you to quickly obtain your prior year’s tax information without sitting on the phone for hours with an IRS representative, says Carl Johnson, a certified public accountant in New Orleans. An IRS online account also lets you view your account balance and payment history for each year. You can also create a payment plan to settle your federal income tax debt within minutes. If you’re 73 years old and have enjoyed watching your 401(k) or IRA grow tax-free without touching it, remember that the IRS is going to want its share each year. That means you’ll have to make withdrawals — and pay income tax. If you turned 73 in 2024, plan to take your required minimum distribution (RMD) at the latest by April 1, 2025. Read this IRS bulletin for more information. The amount of your RMDs is based on your age and the year-end values of your retirement accounts. A Roth IRA has two big tax advantages over a traditional IRA : Qualified withdrawals are not considered income for federal (and usually state) tax purposes, and you don’t have to take distributions from a Roth every year once you reach age 73. Converting a traditional IRA to a Roth IRA may save you money in the long run. Just know that when you convert an IRA to a Roth, it’s considered taxable income, which will raise your tax bill for that year. Generally, it’s best to convert to a Roth IRA when you’re in a low-income year. As tax season approaches, many people start receiving phone calls, emails and texts from entities claiming to be the IRS. Be wary, and understand that these are scams. Typically, the IRS will mail you a notice before using any other method of communication to notify you concerning issues with your tax return. The IRS won’t reach out via social media or text messaging. Relatedly, the IRS warns taxpayers to be careful when choosing a tax preparer. Taking time to vet your tax preparer is crucial to protect yourself from tax scams and fraud. Before hiring a tax professional, search that person’s name in the IRS database of federal tax return preparers to avoid dishonest “professionals.” “Taxpayers should check the tax professional’s credentials,” Johnson says. Tax pros without credentials “may take questionable positions without any degree of scrutiny or fear of losing their access to the profession,” Johnson says. Taxpayers who don’t file a tax return and owe a tax bill, or who file but don’t pay their tax bill on time, risk severe penalties. The IRS can even seize assets if necessary. Respond quickly if the IRS has been sending you letters because it found an error on your return or claims you owe back taxes. Typically, the IRS will send you a notice if you have a balance due, changes were made to your tax return, or the agency needs additional information. “If you ignore a collection letter from the IRS, you may face wage garnishments, liens, bank levies, and other adverse action. And in some cases, the amount due may increase for failure to respond,” Johnson says. Keep in mind the IRS does offer installment plans and other payment plans. Make copies of your correspondence and use only the U.S. Postal Service, the postmark from which is your proof of timeliness when responding. But whatever you do, don’t ignore the IRS because this may cause more issues in the future. ©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.Jordan Ivy-Curry, UCF aim to topple Tulsa
Irish General Election 2024: Counting complete, all Dáil seats filled