Source: International Business Times
Tax debt in retirement could derail your household finances. Receiving a tax notice from the Internal Revenue Service (IRS) can be stressful for retirees, especially amid rising living costs, inflation, and risks to the continuity of Social Security benefits. At a time when millions of Americans rely on Social Security to simply get by, receiving a CP2000 notice from the IRS over a mismatch between tax returns and income reported by third parties could quickly become a financial strain.
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