Money Today That Matters Tomorrow
Many Americans have been waiting several months for their tax refund, missing stimulus checks, unemployment benefits or some other government payment. They have tried calling the paying agency, responding to letters, posting on social media and almost all other avenues they can think off. Yet have not seen much movement …
The stock market has weathered moments of fear, falls and panic over the past decade. But each time, the market came roaring back and set new records, leaving investors to ask why they sold in the first place! I keep reminding myself of this logic, which is reinforced by many market …
So after seeing a lot of buzz around the amazing yields being paid on Treasury Series I Savings Bonds (I-Bonds), I decided to take the plunge and buy some for my wife and I as a place to park some cash while the stock market gyrates and inflation remains stubbornly …
Call yourself a freelancer, Online advertiser, full-stack and backend remote blah blah, Congrats and either way you are now a business owner and are responsible (among many other things) for paying your own taxes. And, IRS loves this 😋☕ If you have been selling products or services online, there’s a …
While the IRS promises to have regular season tax returns and associated refunds processed within 21 days for the vast majority of filers, it does take quite a bit longer for them to process amended returns and refund payments. How Can I Check My Amended Return Status? It’s important to …
I have received a few comments from readers asking me if it is to late to file a return after the regular tax season deadline (April 18th this year); and what happens if they forget to file for an extension? I also get asked what happens if they owe taxes …
Are we headed for a recession? That’s the question many people asking nowadays. The economy has been temperamental in recent months, with the positives from low unemployment and high job growth offset by rampant inflation and ongoing geopolitical uncertainty (Russia-Ukraine war). While we are finally moving past the uncertainties induced …
The transcript excerpt below shows how the IRS deals with refunds that are issued, but cancelled for some reason or unable to be paid due to incorrect bank account details. I’ll review the key codes and associated dates in this article. Seeing transaction code 841 (refund cancelled) on their tax …
Given ongoing tax return processing delays and additional reviews, many tax filers are getting multiple letters from the IRS, including ones stating that their return (and refund payment) will be further delayed for up to an additional 60 days. This additional delay notification has been especially frustrating for filers who …
The NY Department of Taxation and Finance (NYDTF) manages the administration and collection of taxes and related programs for individuals and corporations in the state. Generally, you have to file a state tax return if you’re an income earning resident or part-year resident or a non-resident who earned income from a …
2022 Updates Proposed A bipartisan group of representatives has passed a bill in the house, called Secure Act 2.0, which is proposing the following changes: Raised RMD age to 72 from 70½, which is when people are required to start withdrawing money from retirement accounts. It would raise the age …
Many homeowners have had their mortgage payments change recently and there are multiple reasons why this may have happened, as discussed in this article. You’ll need to have the mortgage statement from your lender handy to find out more, which should indicate why the payment has increased. I’ll cover some …
Gas prices have reached multi-year highs as anyone who drives or uses a car can attest to. Along with high inflation, soaring gas prices are now part of the daily zeitgeist. Energy and basic living expenses (like food and shelter), make up 30% to 60% of most households expenditures, so …
We all have that Uncle who swears he “just needs 500 bucks” to start his million dollar food truck. No? Well, maybe that’s just me……The fact is, the average American tax filer gets almost $3000 back from the IRS each year in the form of a tax refund. So if …