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Retirement tax questions
Well, go ahead wait a month before filing...should br worked out by mid March.
But we can all see that nothing is likely to get done.
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Beyond that, it would be pretty ridiculous for congress to force-apply it backwards to 2023 taxes...but we all know they're somewhat "challanged".
IF..(BIG IF) it passes, it will take a month or two for the IRS to determine how they want to deal with it.
They might be able to use the already submitted tax data to automatically calculate what extra refund "might" be due certain taxpayers...or they may just require folks to "Amend" their tax files....but that would happen long after anything passes both houses and gets signed.....IF...if...IIIFFFF it ever gets passed.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎February 6, 2024
4:37 AM