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Powerball Jackpot Soars to $550 Million. Here's How Much the Winner Would Owe in Taxes
Whether you take the windfall as a lump sum or an annuity, a big chunk would go to the IRS before the money even reaches your account.
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How the $600 Stimulus Checks Could Affect Your Tax Refund This Year
If you’re missing a stimulus check, you can claim it as a credit on your upcoming tax return. But that doesn’t necessarily mean you will get a bigger refund.
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IRS: Stimulus Payments Sent to Wrong Accounts Are Being Redirected, Will Be Deposited in Coming Days
Millions of stimulus payments that were erroneously sent by the IRS to closed bank accounts are being redirected to the correct accounts “in the coming days.”
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That $600 Second Stimulus Payment Might Not Arrive If You Changed Banks
The latest round of $600 stimulus checks is on the way, but possibly not for people that recently changed their bank information.
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‘It's Extremely Frustrating:' IRS Unresponsive as Americans Seek Answers on Missing Stimulus Payments
Taxpayers are increasingly frustrated that they have not received their stimulus checks and the IRS will not answer their questions.
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Your Second Stimulus Check May Be Delayed If You Changed Your Bank Or Moved
The latest round of $600 stimulus checks is on the way, but for people that recently changed their bank information or moved, the next payment may be delayed.
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This Family Just Got Their Second Stimulus Check. Here's How They'll Spend It
On Wednesday morning, Mike Molitoris, a wealth manager in Cary, North Carolina, checked his bank account. The stimulus payment for his family was pending.
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$600 Stimulus Checks Are Officially on the Way. Here's Who Will Get Them First
The $600 stimulus checks could arrive as early as tonight for those who have direct deposit, according to Treasury Secretary Mnuchin.
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With No $1,200 Stimulus Checks, Latest Proposal, Rejected by McConnell, May Not Be Enough to Help Hurting Americans, Experts Say
A bipartisan group of lawmakers pushed for a new coronavirus stimulus bill, which was rejected by McConnell. Experts say it falls short to help Americans need now.
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The IRS Has Blessed This Workaround for Dodging the Cap on State and Local Taxes
Seven states established a workaround for business owners facing a $10,000 cap on state and local tax deductions. The IRS has signaled it would greenlight it.
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A Lesson From Trump Taxes: an Underfunded IRS Is Outmatched
Revelations of President Donald Trump’s near-zero federal income tax payments have underscored the ability of wealthy individuals with access to high-priced lawyers to outmatch an IRS that has long been understaffed and underfunded
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IRS Cancels $1.4 Billion to Stimulus Checks Sent to Dead Americans
The Internal Revenue Service is canceling over 1.1 million coronavirus stimulus checks it sent to deceased Americans in April.
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Waiting for Your Stimulus Check? IRS Deadline to Set Up Direct Deposit Is Wednesday
There’s still time to submit your bank account information to the IRS to get your $1,200 stimulus payment more quickly. But that window is closing, the IRS said on Friday. Americans who qualify for a one-time payment now have until noon on Wednesday, May 13, to get their money faster by submitting their direct deposit information on the Get My Payment site. After...
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Used a Tax-Prep Service? Your Stimulus Check May Be Delayed
Millions of Americans may have had their coronavirus stimulus payments held up by glitches if they were customers of tax preparation services, according to a new report. Here’s why those payments could have been delayed, and what one major tax preparation service is saying about the issue.
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Tax Refunds Are Going To Be Delayed for Filers Claiming These Tax Credits
Millions of households that hustled to get their tax returns to the IRS early could be waiting until March for their refunds. If you’re claiming the additional child tax credit or the earned income tax credit, the IRS cannot issue your refund before mid-February.
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70 Percent of IRS Phone Tax Scams Involve iTunes Gift Cards: Treasury Inspector General
As the April 18 filing deadline quickly approaches, many tax payers are looking forward to the end of tax season. But for state and federal investigators, tax fraud has quickly grown into a year-round problem with consequences for all tax payers.
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Federal Workers Worry Over the End of the Government Shutdown
Federal employees breathe a sigh of relief as the president agrees to re-open the government for three weeks but furloughed workers remain concerned as to what will happen after the three weeks are over. Damian Trujillo reports.
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Impeachment Hearing Attorneys Daniel Goldman, Steve Castor May Become Household Names
The public impeachment inquiry hearings that started Wednesday pit a Democratic attorney who built his reputation as a federal mob and securities fraud prosecutor against a GOP House Oversight investigator who helped steer some of the most notable probes of the Obama administration. The two attorneys with shiny resumes are hardly household names. Now, Daniel Goldman and Steve Castor find...
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Here Are Your New Income Tax Brackets for 2020
The IRS released the federal tax rates and income brackets for 2020 on Wednesday. The seven tax rates remain unchanged, while the income limits have been adjusted for inflation. Tax rates in the U.S. are marginal, meaning that different levels of the same person’s income are taxed at different rates. If you and your spouse earn $80,000 in 2020 and...
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October 15 Is the Deadline for 2018 Federal Tax Return Extension. What you need to know
If you asked the IRS for six more months to work on your 2018 tax return, you’re about to run out of time. This spring, about 15 million taxpayers asked the IRS for an extension on their 2018 tax return. While those filers had to pay their projected taxes by April 15, they had to until Oct. 15 to complete and submit their returns.