Before making a gift to someone, it’s important to understand how it will be taxed and the IRS’s annual and lifetime gift tax ...

A 529 plan is a great way to enjoy some tax advantages while you save up for college. But after all that hard work saving, ...

When locals and visitors make purchases in the Wilmington area, they pay sales tax. Here's how sales tax works and how much ...

Marni Rose McFall is a Newsweek reporter based in London, U.K. Her focus is on internet trends, U.S. politics and popular culture. She has covered fashion, culture, art and music extensively.

or any other tax-advantaged plans such as the Health Savings Account (HSA) and the Coverdell Education Savings Account (ESA). Common triggers for Form 5329 include taking an early distribution to ...

The guidance on using the alternative method to distribute Form 1095-C was issued by the IRS on February 21, 2025, and essentially mirrors the existing guidance for alternative distribution of ...

CESAs and QTPs are tax-advantaged investment accounts designed to pay for qualified higher education expenses. A 1099-Q form will identify the amount made from the account in gross distributions ...

1099-Q: Payments from Qualified Education Programs Generally, income received on Form 1099-Q is tax-free as you’ll most likely have received this form due to distributions from qualified tuition ...

will be treated as a 2025 distribution for federal income tax purposes and is not included on the 2024 Form 1099-DIV.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions ...

Direct File will support distributions (Form 1099-R) from common retirement plans in most cases. Tax credits ... for college tuition or other higher education expenses — such as interest ...