Lori Evers, a retired CPA and volunteer with the AARP Foundation's Tax Aide program, breaks down the latest tax changes, plus how to protect yourself from identity theft.
Many filers have seen bigger refunds this year, especially those who are middle- or upper-middle income.
The tax breaks will help some workers, but come with limits.
Proposed policies in the bill would impact health savings accounts, college savings accounts, taxes on overtime and tips, and more.
The proposal would most likely affect low-to-middle income earners in supervisory roles.
A new initiative from the Labor Department aims to up outreach and enforcement related to such issues.
A key number for calculating overtime pay hasn’t been adequately updated since 1975 — economists hope that changes.
A new federal salary level for low-paid managers to be eligible for overtime pay kicks in Jan. 1.
Salaried management workers who earn less than $35,568/year will be entitled to overtime pay starting Jan. 1, 2020.
Many employers are already prepared for the rule change.
