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Tax and financial planning news from around the web: June 27 – July 1, 2022

Written on Jun 28, 2022

What millennials should expect from Social Security 
A projected 20% benefit cut in 2035 could significantly reduce lifetime income for younger workers, according to a new paper. 

IRS: Taxpayers now have more options to correct, amend returns electronically 
The IRS says more forms can now be amended electronically. These include people filing corrections to the Form 1040-NR, U.S. Nonresident Alien Income Tax Return and Forms 1040-SS, U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico) and Forms 1040-PR, Self-Employment Tax Return – Puerto Rico.