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What is the new deduction for senior citizens, and how will it impact taxable social security benefits?
Contributed by: Henry, FreeTaxUSA Agent, Tax Pro With the recent signing into law of the One Big Beautiful Bill Act (OBBBA), millions of older Americans got a significant tax break through a new deduction available from 2025 to 2028. You may be wondering how the deduction works and if it affects social security…
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What is the pro rata rule and why do I need to know it?
Contributed by: CoryF, FreeTaxUSA Agent, Tax Pro Wait a second, I have taxable income on my conversion to a Roth IRA. I thought if I put in enough nondeductible IRA contributions there would be no taxable income, but I am still seeing taxable income on my Roth IRA conversion. What is happening here? Congratulations, you…
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How do I file a tax extension?
Contributed by: Henry, FreeTaxUSA Agent, Tax Pro Do you need more time to file your tax return? If so, you’re not alone. You can file an extension for free with FreeTaxUSA, get started on your tax extension today. Every year, many taxpayers request an extension of time to file from the IRS. Doing this can provide…
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Can a nonresident of the U.S. file a tax return with FreeTaxUSA?
Contributed by: Henry FreeTaxUSA Agent, Tax Pro If you are a nonresident and have U.S. source income subject to tax, you probably need to file a U.S. tax return. This includes students, teachers, researchers, and trainees who are temporarily in the U.S. on F, J, M, or Q visas. Nonresidents generally file Form 1040-NR and…
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What do the Box 14 codes on a W-2 mean?
Contributed by: TriciaD, FreeTaxUSA Agent, Tax Pro For many employees, the annual arrival of W-2 forms signals the start of tax season. While most people focus on wages, federal income tax withheld, and social security details, Box 14 often stands out as a source of confusion. What do the codes in Box 14 mean, and how do…