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Correcting excess contributions to IRAs

Excess contributions to IRAs are generally subject to a 6% excise tax each year until they are eliminated from the account. This article identifies the ways taxpayers can eliminate excess contributions and discusses the pros and cons of using the different
methods in various situations.

Stock-based compensation: Back to basics

This item summarizes some fundamental income tax considerations for employers related to stock-based compensation under U.S. federal income tax laws.

Federal retirement savings plan ended

Due to “extremely low” demand and high costs, the Treasury Department announced that it is ending the myRA retirement savings program.