Victor Washington fell behind on his rent during the pandemic. He and his landlord, Andrea Sorum, joined forces to keep him in his home. Source: Andrea Sorum At one point in the pandemic, Victor Washington was nearly four months behind on his rent. The problems began soon after he moved into the one-bedroom condo in
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IRS headquarters in Washington, D.C. Samuel Corum/Bloomberg via Getty Images The IRS plans to automatically process refunds for taxpayers who had unemployment income in 2020 and filed their tax returns before legislation passed that made those benefits tax-free. The American Rescue Plan, which was signed into law by President Joe Biden on March 11, made
Marko Geber | DigitalVision | Getty Images The child tax credit payments authorized in the latest Covid relief bill may not be sent monthly and may not even start in July, IRS Commissioner Charles Rettig said. The $1.9 trillion American Rescue Plan signed into law by President Joe Biden on March 11 contained a significant
Getty Images As the government pushes millions of $1,400 stimulus checks out the door, some Americans could come up empty handed. The reason: overdue unpaid debts. The issue prompted Capitol Hill lawmakers to enter into a crossfire of sorts on Thursday over whether or not those checks can be garnished, as some looked to change
fstop123 | E+ | Getty Images Despite concern over rising bond yields, many investors see today as the best of times. The economy is growing and should get stronger as stimulus checks and child-care tax credits help millions of American families. More people are getting vaccinated daily, raising the prospect of a more open economy.
PeopleImages With the April 15 tax-filing deadline a month away, calls to extend the season are growing. On Tuesday, a bipartisan group of lawmakers led by Rep. Jamie Raskin, D-Md., and Ways and Means Oversight Subcommittee Chairman Bill Pascrell Jr., D-N.J., sent a letter to the IRS and Treasury Department urging them to move the deadline
10’000 Hours Millions of Americans will get a tax break on their unemployment benefits this tax season. But certain income rules limit who can qualify. Fortunately, there are a few tax maneuvers involving individual retirement accounts, health savings accounts and write-offs for business equipment that may help workers skirt those restrictions. “There’s a little ray
The Internal Revenue Services offices in Washington, D.C. Adam Jeffery | CNBC The IRS and Treasury Department will postpone the April 15 tax-filing deadline to May 17, the agencies announced Wednesday. “This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate
Allen J. Schaben | Los Angeles Times | Getty Images More than 2,200 organizations have written a letter to President Joe Biden urging him to extend the national eviction moratorium. The Centers for Disease Control and Prevention announced a ban on evicting struggling renters during the pandemic last September, and that protection is scheduled to
Kimberly White | Getty Images Entertainment | Getty Images Online tax preparers like TurboTax and H&R Block haven’t yet updated their software to account for a tax break on unemployment benefits some Americans received last year. As a result, taxpayers who are eligible for the new break and typically file a return digitally should wait,
IronHeart | Moment | Getty Images Extra unemployment benefits offered by the American Rescue Plan may not arrive until mid-April or later, the U.S. Department of Labor said Monday. The $1.9 trillion Covid relief bill, which President Joe Biden signed Thursday, extended jobless aid to Labor Day and continued a $300 weekly enhancement to benefits.
Marko Geber | DigitalVision | Getty Images Millions of Americans who collected unemployment benefits last year got a new tax break from the American Rescue Plan. Here’s how it works. $10,200 tax break President Joe Biden signed a $1.9 trillion Covid relief bill Thursday that waives federal tax on up to $10,200 of unemployment benefits
cihatatceken | iStock | Getty Images Many Americans could be seeing green this Wednesday, March 17. And that’s not just because it’s St. Patrick’s Day. Wednesday marks the official “payday” when many of the $1,400 stimulus checks should be deposited. Yet some Americans may have seen the cash already cross their accounts. President Joe Biden
Morsa Images | Getty Images A pandemic migration has been underway, at least for young adults ages 18 to 31. That’s according to a Bankrate.com survey that found 31% of people in that age cohort relocated either permanently or for an extended period of time during the pandemic. That’s compared to 16% of adults overall.
The Internal Revenue Service (IRS) headquarters in Washington, D.C. Samuel Corum/Bloomberg via Getty Images Jobless Americans should wait to file an amended tax return to get a new tax break on unemployment benefits received last year, the IRS said Friday. The American Rescue Plan Act of 2021, which President Joe Biden signed Thursday, waives federal
William Thomas Cain | Getty Images Those new $1,400 stimulus checks are arriving. While the majority of payments will be made by direct deposit, others will receive the money in the mail — as paper checks or debit cards. There could be some differences in what the U.S. Postal Service drops in your mail box
tupungato | iStock | Getty Images Relief is on the way for those who have fallen behind on their rent during the coronavirus pandemic. There’s now more than $45 billion in rental assistance available, thanks to the stimulus packages passed in December and this month. To be sure, it will take time for the federal
bymuratdeniz President Joe Biden signed $1.9 trillion in new coronavirus relief into law on Thursday, which means $1,400 stimulus checks could start to reach Americans in the coming days. Payments should go to about 159 million households. “People can expect to start seeing direct deposits hit their bank accounts as early as this weekend,” White
College dreams are not what they used to be. Up until this year, high school senior Jason Neuharth, 18, was set on attending a technical school in his home state of Minnesota. “I was adamant on going to college — this was going to be my future,” he said. But the last 12 months of
NBA legend Kareem Abdul-Jabbar Adam Jeffery | CNBC Basketball legend Kareem Abdul-Jabbar has a lot more on his mind these days than the sport. For more than a decade, he’s been focused on introducing underserved students to a STEM education, which is science, technology, engineering and math. Blacks and Latinos are underrepresented in the field,