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  2. Roth IRA - Wikipedia

    en.wikipedia.org/wiki/Roth_IRA

    A Roth IRA is an individual retirement account (IRA) under United States law that is generally not taxed upon distribution, provided certain conditions are met. The principal difference between Roth IRAs and most other tax-advantaged retirement plans is that rather than granting a tax reduction for contributions to the retirement plan, qualified withdrawals from the Roth IRA plan are tax-free ...

  3. Earned income tax credit - Wikipedia

    en.wikipedia.org/wiki/Earned_income_tax_credit

    Tax Credit for case of one qualifying child. With one child and parent filing singly or as head of household, as of 2020: For income between $10,540 and $19,330, the tax credit is a constant "plateau" at $3,584. For income over $41,765, the tax credit is zero. This is represented by the lightest blue, solid line:

  4. Retirement - Wikipedia

    en.wikipedia.org/wiki/Retirement

    Retirement is the withdrawal from one's position or occupation or from one's active working life. A person may also semi-retire by reducing work hours or workload. Many people choose to retire when they are elderly or incapable of doing their job due to health reasons. People may also retire when they are eligible for private or public pension benefits, although some are forced to retire when ...

  5. Tax-free savings account - Wikipedia

    en.wikipedia.org/wiki/Tax-Free_Savings_Account

    The tax treatment of a TFSA is the opposite of a registered retirement savings plan (RRSP). Unregistered accounts are subject to tax and hold after-tax money, the TFSA is described as a tax-free account holding after-tax money, and the RRSP is described as a tax-deferred account holding pre-tax money that will be taxed on withdrawal.

  6. Retirement plans in the United States - Wikipedia

    en.wikipedia.org/wiki/Retirement_plans_in_the...

    Types of retirement plans. Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.

  7. IRS tax forms - Wikipedia

    en.wikipedia.org/wiki/IRS_tax_forms

    As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for such returns.

  8. Great Recession - Wikipedia

    en.wikipedia.org/wiki/Great_Recession

    On February 17, 2009, U.S. President Barack Obama signed the American Recovery and Reinvestment Act of 2009, an $787 billion stimulus package with a broad spectrum of spending and tax cuts. Over $75 billion of the package was specifically allocated to programs which help struggling homeowners.

  9. Carbon tax - Wikipedia

    en.wikipedia.org/wiki/Carbon_tax

    In 2009, France detailed a carbon tax with a levy on oil, gas, and coal consumption by households and businesses that was supposed to come into effect on 1 January 2010. The tax would affect households and businesses, which would have raised the cost of a litre of unleaded fuel by about four euro cents (25 US cents per gallon).