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2. Mortgage interest deduction: What it is and what qualifies - AOL

   www.aol.com/finance/mortgage-interest-deduction...

   For mortgages taken out since Dec. 16, 2017, you can deduct only the interest on the first $750,000 if you are single or married filing jointly ($375,000 if you are married filing separately ...

3. IRS: This 'rule of thumb' shows who needs to make a third ...

   www.aol.com/irs-rule-thumb-shows-needs-192349576...

   September 13, 2024 at 3:23 PM. The safe harbor rules say you can avoid IRS penalties by paying at least 90% of your 2024 tax liability or 100% of 2023 taxes, whichever is smaller. The third ...

4. Earned income tax credit - Wikipedia

   en.wikipedia.org/wiki/Earned_income_tax_credit

   Tax credit equals $0.34 for each dollar of earned income for income up to $10,540. For income between $10,540 and $19,330, the tax credit is a constant "plateau" at $3,584. For income between $19,330 and $41,765, the tax credit decreases by $0.1598 for each dollar earned over $19,330. For income over $41,765, the tax credit is zero.

5. Gift tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Gift_tax_in_the_United_States

   v. t. e. A gift tax, known originally as inheritance tax, is a tax imposed on the transfer of ownership of property during the giver's life. The United States Internal Revenue Service says that a gift is "Any transfer to an individual, either directly or indirectly, where full compensation (measured in money or money's worth) is not received in ...

6. Refund anticipation loan - Wikipedia

   en.wikipedia.org/wiki/Refund_anticipation_loan

   Use of tax-time financial products, such as refund anticipation loans, in 2016. Refund anticipation loan ( RAL) is a short-term consumer loan in the United States provided by a third party against an expected tax refund for the duration it takes the tax authority to pay the refund. The loan term was usually about two to three weeks, related to ...

7. Borrowers whose student loans were forgiven in 2023 may owe ...

   www.aol.com/finance/borrowers-whose-student...

   Borrowers whose student loans were forgiven in 2023 may owe state taxes. Ronda Lee. January 20, 2024 at 10:00 AM. President Biden has forgiven more than $136 billion in student loan debt for over ...

8. Cancellation-of-debt income - Wikipedia

   en.wikipedia.org/wiki/Cancellation-of-debt_income

   Taxpayers in the United States may have tax consequences when debt is cancelled. This is commonly known as cancellation-of-debt (COD) income. According to the Internal Revenue Code, the discharge of indebtedness must be included in a taxpayer's gross income. [1] There are exceptions to this rule, however, so a careful examination of one's COD ...

9. Get a jump on your taxes with these tips from the IRS - AOL

   www.aol.com/jump-taxes-tips-irs-2023-145005768.html

   There’s plenty of time to create one. The IRS recommends creating a secure online account at IRS.gov/account. Taxpayers can use this account to view your most recently filed tax return, view any ...