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A Roth IRA conversion can be a great idea if you want to create tax-free income in retirement, but you’ll want to understand the trade-offs, especially the immediate tax consequences of converting.
When filing taxes for the year of the conversion, use Form 8606 to inform the IRS about the rollover. Bottom line Any money moved from a traditional retirement account to a Roth IRA is considered ...
Choosing between the countless free filing tools and paid tax-prep services can be a daunting task, but a new program launched in 2024 that aims to offer a free and simple tax-filing experience.
For most people, the easiest way to file federal and state tax returns for free is to use one of the programs offered by the "Free File Alliance," an agreement that started in 2002 between the IRS ...
The IRS Direct File program, which lets taxpayers file their federal income tax return directly with the IRS for free, is doubling its reach to 25 states for the 2025 tax season, up from 12 states ...
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