Today’s column addresses questions about ‘switching’ from a retirement benefit to a spousal benefit, filing retroactively and then immediately suspending and what benefits might be available on records of ex spouses. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets Maximize My
Taxes
This year’s tax filing deadline hasn’t exactly been smooth. It seemed that the April 15 deadline would stick, but then the IRS extended it to May 17. But that didn’t cover everything, notable the April 15 estimated tax payment deadline! What’s more, don’t forget about FBARs either, as that deadline was not extended. The IRS
The Trump tax reform conspicuously targeted high-tax Democratic states. Now that they’re in control, some Democrats have made undoing the damage a priority. New York Governor Andrew Cuomo has always been more reluctant than other Empire State Democrats to soak the rich—just last summer he warned that raising taxes on the state’s billionaires would mean
While the IRS extended the tax return deadline to May 17, it kept the usual April 15 date for the first quarterly estimated tax payment of 2021. This is awkward for the many people planning to base 2021 estimated taxes on 2020 income reported in their Form 1040 tax returns. How are you supposed to
Wondering where your tax refund is? In its Covid-19 operations update, the Internal Revenue Service has added an explanation for why in many cases it’s taking longer than the typical 21 days to process tax refunds for individual taxpayers. We’re talking about tax returns filed for the 2020 tax year during the 2021 tax season