Personal finance

Alistair Berg | DigitalVision | Getty Images Many jobless workers are about to find out they could owe federal and state taxes on their 2020 unemployment income. The news might be particularly unexpected for independent contractors and self-employed people who normally aren’t eligible for state benefits, but may have received Pandemic Unemployment Assistance through the

vgajic | E+ | Getty Images People of color are paying more than twice the amount in banking fees than White Americans, a Bankrate survey found. When asked about fees such as ATM, overdraft and routine service charges, Black adults report shelling out an average of $12 a month for checking accounts at banks or

Hundreds of jobless people wait outside the Kentucky Career Center for help with their unemployment claims on June 19 in Frankfort, Kentucky. John Sommers II/Getty Images As President-elect Joe Biden prepares to take office on Jan. 20, one of his first priorities is getting $2,000 stimulus checks approved. A third round of higher payments looked

Massimo Giachetti | iStock Editorial | Getty Images An aide for the incoming Biden administration said last week the president-elect will extend the payment pause and interest waiver for student loan borrowers beyond this month, when it was set to expire. That means the 42 million Americans with federal student loans will have more time

Sen. Ron Wyden, D-OR Sarah Silbiger | Getty Images News | Getty Images Sen. Ron Wyden, an Oregon Democrat and the incoming chair of the Senate Finance Committee, is calling anew for a $600-a-week increase in jobless aid. That backing comes as a new study, published by researchers at Yale University, found that a $600

The U.S. Department of Labor headquarters in Washington. Al Drago/Bloomberg via Getty Images Automatic benefits Many workers will get the aid automatically, according to communications from federal and state labor departments. For example, workers don’t need to apply or take additional action to get the $300-a-week enhancement. States will include the stipend in individuals’ typical

StefaNikolic | E+ | Getty Images Holders of cryptocurrency have more than price volatility to worry about this year. The taxman wants to know about your trading activity. Bitcoin hit fresh highs during the weekend, creeping toward $42,000 on Jan. 8. However, its value tanked on Monday amid a sell-off in cryptocurrencies, and bitcoin’s value

Courtney Keating | E+ | Getty Images Unexpected bills, like an emergency car repair or medical bill, are a fact of life. Yet not everyone can afford to pay up when those kinds of unforeseen events arise. Just 39% of Americans can afford a $1,000 unexpected expense, according to a new survey from Bankrate.com. The

Supporters of Donald Trump gather outside the Capitol building in Washington D.C., on January 06, 2021. Tayfun Coskun | Anadolu Agency | Getty Images The coronavirus pandemic and chaos in the U.S. Capitol can’t keep the stock market down. While Americans may be in disbelief over the riots that saw lawmakers running for cover and

Taking a trip? Not likely right now. With tourism at a near standstill, making a long-term commitment to an annual vacation spot may have seemed like a better idea before a global pandemic restricted travel and caused a sudden spike in unemployment, leaving many Americans with less disposable income. Now some owners of timeshares, who

Rachel Bozarth and her family have frozen their spending on non-essential items for the month of January. Source: Rachel Bozarth Rachael Bozarth is taking some drastic measures to attack her debt. The 32-year old mother of five has pledged to freeze all of her non-essential spending for the month of January. “I need to retrain

Jersey City, New Jersey. Dong Wenjie | Moment | Getty Images Whether they were tired of the chilly winters or the high income taxes, a lot of residents fled New Jersey, New York and Illinois in 2020. New Jersey was the top “outbound” state last year, according to an analysis of 2020 moving data by

The Going Jessies. Derek Wood (center), Angela Paradis (right) and James Breeding (left) Photo: Derek Wood Derek Wood was about to achieve a lifelong dream. Unemployment benefits may prove to be his foil. Wood, 49, a guitar player and songwriter from the Little Rock, Ark., area, who sings with a soulful country-blues croon, quit his

Drew Angerer | Getty Images News | Getty Images No, you didn’t hit the $520 million Mega Millions jackpot. The lottery game’s top prize has climbed to a whopping $600 million for Tuesday night’s drawing, following no ticket matching all six numbers drawn Friday night. The amount marks the 8th-largest jackpot in lottery history. And

Fertnig | E+ | Getty Images If you don’t receive your second stimulus check in your bank account or the mail, the good news is you can claim the money when you file your tax return this spring. But beware: That doesn’t necessarily mean you will automatically get the full $600 or other funds you

Senator Elizabeth Warren, a Democrat from Massachusetts, speaks as House Majority Whip James Clyburn, a Democrat from South Carolina, right, listens during a news conference on cancelling student loan debt in Washington, D.C., U.S., on Tuesday, July 23, 2019. Andrew Harrer | Bloomberg | Getty Images With Democrats in control of the White House and

The latest round of $600 stimulus checks is on the way. Meanwhile, many have already arrived for millions of Americans. But for people who recently changed their bank account information, that payment might not come at all. The IRS and U.S. Treasury Department began issuing the second economic impact payments through direct deposit and mailing

Getty Images Millions of second stimulus checks are being deployed to help Americans who are struggling amid the coronavirus pandemic. Even so, some may be asking, “Where is my money?” A new set of payments was authorized by Congress with the latest $900 billion coronavirus relief package. This time, the checks will be up to

SDI Productions | E+ | Getty Images If your stimulus payment came in below what you expected, you may get a second shot at claiming the money when you file your 2020 tax return. In the waning days of 2020, the federal government began sending out its second round of stimulus checks to millions of

In the stimulus package signed into law last month, the national ban on evictions was extended through January and a $25 billion pot of money was established for renters struggling amid the health and economic crisis. That money will help to keep many of the 14 million Americans who are behind on their rent in