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Some States Require Amended Tax Returns for $10,200 Unemployment Tax Break Refunds
Many states are asking taxpayers to file amended tax returns in connection with the tax break on up to $10,200 of unemployment benefits.
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Here's How the IRS Will Let You Know Why Your Stimulus Checks Was Less Than Expected
This year’s tax return provides an opportunity to claim any unpaid stimulus check money you think you are due. If you’re not eligible, the IRS may tell you why.
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6 Million People Applied for Unemployment a Year Ago. They're Still Near Pre-Pandemic Highs
The Covid pandemic pushed workers to apply for unemployment benefits at unprecedented levels in early April 2020. Claims remain high by historical standards.
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Biden Tax Plan May Lead to More Roth Retirement Accounts
President Joe Biden is expected to propose higher taxes on the wealthy. That may make Roth conversions a better idea this year.
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Biden Consumer Watchdog Seeks Delay of Trump-Era Debt Collection Rules
The Consumer Financial Protection Bureau is proposing a 60-day delay to two debt-collection rules set to take effect in November.
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The Latest Batch of $1,400 Stimulus Checks Are Sent. Social Security Beneficiaries Received Most of the Money
A new batch of stimulus checks is arriving. This time, Social Security retirement, survivor or disability beneficiaries received most of the money.
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Amended Return May Be Needed to Get Full Refund on $10,200 Unemployment Tax Break, IRS Says
Americans who collected unemployment benefits last year may need to file an amended tax return in some cases to get their maximum tax refund, the IRS said.
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New Batch of $1,400 Stimulus Checks Includes ‘Plus-Up' Payments to Those Eligible for More Money
As the government continues to issue new stimulus checks, some people are getting “plus-up” payments now that their 2020 tax returns have been processed.
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Consumer Protection Group Proposes Rule to Prevent Foreclosures Until 2022
The Consumer Financial Protection Bureau proposed a rule Monday that would prevent mortgage servicers from filing a foreclosure until after Dec. 31, 2021.
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To Combat Financial Illiteracy, Education Needs to Start Early in the Classroom, Advocates Say
Far too few students receive personal finance education during high school. Yet they are expected to make big financial decisions after they graduate.
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What to Know About Tax Credits in the American Rescue Plan
The $1.9 trillion Covid relief measure temporarily enhanced a number of tax credits. Taxpayers may see hundreds or thousands of dollars in savings.
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Fourth Stimulus Checks Are Unlikely. Here's What Federal Aid Could Be Coming Next
As Washington lawmakers pivot to recovery planning, many Americans hope financial help will keep coming. Here’s how the Covid-19 aid could continue.
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Planning to Invest Your $1,400 Stimulus Check? Why a Roth IRA May Make Sense
New $1,400 checks could prompt some people to dabble in stocks. Here’s where you might want to put that money instead.
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Sen. Mitch McConnell Slams Tax Hikes in Biden's $2 Trillion Infrastructure Bill, Says He Is Unlikely to Support It
McConnell also said that Biden called him Tuesday to brief him about the $2 trillion infrastructure proposal.
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IRS Refunds Will Start in May for $10,200 Unemployment Tax Break
The IRS will issue refunds automatically starting in May to workers who qualify for a new tax break on jobless benefits but had already filed their tax returns.
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Senate Democrats Propose Capital Gains Tax at Death With $1 Million Exemption
A group of senators proposed a plan Monday to get rid of the co-called step-up in basis and tax unrealized capital gains at death.
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These States Aren't Allowing the $10,200 Unemployment Tax Break
Thirteen states aren’t offering a tax break on unemployment benefits received last year, according to data from H&R Block.
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Claiming Head of Household Status for Taxes Can Be Very Valuable. Who Can Use It
It’s no wonder people want to file taxes using head-of-household status, since it’s a great deal. But not everyone qualifies. Here’s how to check if you do.
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The Covid Downturn May Cut Social Security Benefits for Some. Whether That Will Be Fixed Is Uncertain
A steep decline in wages in 2020 could reduce Social Security benefit calculations for some. But an improving economy could help curb that drop.
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Some $1,400 Stimulus Checks Went to People Who Didn't Need Them. Experts Say That May Be OK
About 127 million households have gotten a $1,400 stimulus check. Some likely include Americans who didn’t need the cash.