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Many people contribute to their IRAs at the taxreturn deadline. But why wait? You can earn a lot more tax-deferred income by making contributions sooner. Example: Say you contribute $4,000 to your IRA one year earlier than usual. Assuming you earn 8 percent each year, after 25 years you will have accumulated $315,818 instead of $288,424.
If you handle payroll compliance, beware: As other tax revenue sources dry up, the IRS is hiring 700 new revenue agents whose only job will be to hunt down payroll-law violations. That means intense new scrutiny of your W-2s, 1099s, 1095s and other payroll tax reporting compliance....Click here to find out more.