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UNDERSTANDING EMPLOYMENT TAX AND FOREIGN ACCOUNT TAXES
"FATCA requires any U.S. person holding foreign financial assets with an aggregate value exceeding $50,000 to report certain information about those assets on a new form (Form 8938) that must be attached to the taxpayer annual tax return. Reporting applies for assets held in taxable years beginning on or after January 1, 2011
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IRS ANNOUNCES 2015 PENSION PLAN LIMITATIONS
TAXPAYERS MAY CONTRIBUTE UP TO $18,000 TO THEIR 401(K) PLANS IN 2015
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WASHINGTON — The Internal Revenue Service today announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged because the increase in the index did not meet the statutory thresholds that trigger their adjustment. To Read Highlights Click Read More