Money Saving Tax Tips

Generation X is often overlooked in the debates comparing baby boomers and the younger millennials and Gen Z. Here’s one way that Gen X stands out, though it’s probably not for the reason this neglected bunch would like: By most measures, the so-called slackers who came of age in the 1980s currently have significantly more debt than their older... Continue reading→

To the millions of people with three rounds of Economic Impact Payments under their belt, stimulus checks may seem like a relic of the early pandemic.  But not, apparently, to fraudsters. The IRS revealed this week that it got “a record number of reports” about stimulus check scams in June and July. Amid curiosity around whether there... Continue reading→

The Biden administration has begun to distribute expanded child tax credit payments, giving parents on average $423 this month, with payments continuing through the end of the year. President Joe Biden increased the size of the tax credit as part of his $1.9 trillion coronavirus relief package, as well as making it fully available to families without any tax... Continue reading→

Here’s What You Need to Know Cryptocurrency has headlined many news articles, served as the subject of social media posts, and gained significant traction in mainstream culture. Bitcoin, the first digital currency, has grown exponentially in recent years, with a total market capitalization growing from a modest $10 billion in July 2016 to over $1.1... Continue reading→

When the extended programs included in the CARES Act came to an end millions of Americans lost their unemployment benefits. Fortunately, Congress has passed a new relief package that, in addition to introducing second stimulus checks and money for vaccine distribution, further extends unemployment benefits to out-of-work Americans. And not a moment too soon. While unemployment benefits... Continue reading→

After much political back and forth—and about nine months after the first checks started going out—the second round of stimulus checks is finally hitting Americans’ bank accounts. Many people have tweeted that they’ve already received the second payment, but there are also lots of people concerned about why they haven’t. This time, the checks are... Continue reading→

Don’t let the holidays distract you from last-minute opportunities to reduce your 2020 tax bill. Some tactics are only in play for 2020, thanks to the federal CARES Act, so this is the only chance you’ll have to capitalize on them. Here are a few tips for your 2020 year end:   Give generously In... Continue reading→

So you’ve been working from home this year as a result of the pandemic. Maybe your office went entirely remote and you’ve been having daily Zoom meetings with coworkers and clients. Or perhaps you were laid off and are now doing freelance or contract work from the comfort of your own home. With tax season... Continue reading→

The IRS reviewed its collection activities to see how it could provide relief for taxpayers who owe taxes but are struggling financially because of the pandemic. The agency is expanding taxpayer options for making payments and other ways to resolve tax debt. Taxpayers who owe taxes always had options to get help through payment plans... Continue reading→

Because of COVID-19, millions of people no longer go to the office but work from home instead, where they have had to set up workstations with desks, printers, high-speed internet, and other pricey items, often paid for out of their own pockets. Many other workers have temporarily (or maybe permanently) fled expensive big cities for... Continue reading→