The more you contribute to your 401k, the more you can reduce your AGI and the amount you owe in taxes. In 2016, the maximum IRA and 401k contribution limits are 5,500 and $18,000 respectively for anyone 49 years of age and under.
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Report: IRS Lien Notices Reach Wrong Addresses
The IRS sent tax lien notices to the wrong addresses for taxpayers even though the agency had the correct addresses in its system, according to a July report by the U.S. Treasury Inspector General for Tax Administration (TIGTA). Though the agency re-sent the notices, the…