Money Today That Matters Tomorrow
With higher than normal inflation, many seniors on fixed incomes are looking for help to make ends meet and ensure they have access to healthy and nutritious food. There has been talk of a “grocery stimulus” or additional coverage under the Food stamp/SNAP program (Commodity Supplemental Food Program), but it …
The Kentucky Career Center (KCC) Unemployment manages the states’ unemployment insurance program, systems and benefit processing/payments. With the expiry the pandemic unemployment programs, only traditional/regular state unemployment is available for full or partial unemployment claims. The table below provides key details on the latest unemployment benefits and qualifying wage requirements. …
Education choice is an important topic for a lot of American families. And over the last few years there has been a debate about putting more educational choice (and financial support) back in the hands of parents versus balancing the needs for adequate funding of public schools. This has manifested …
While the IRS provides several online tools and options to get information on your personal tax (1040) return, business owners have to instead call the IRS to get help with questions related to corporate refunds. The IRS have themselves stated that for any business related tax returns and refund information, …
Much to my disappointment I ended up owing taxes when I filed my tax return this year. Or said another way I had a tax liability to the IRS. While paying taxes I legally owe is not itself a bad thing, after all I did not give an interest free …
The IRS released some updated data on ongoing processing delays in its latest operations update. This includes the following key data points: As of October 28, 2022, the IRS had 4.4 million unprocessed individual returns received this year. These include tax year 2021 returns and late filed prior year returns. …
Transaction codes are used on IRS tax transcripts to provide information for individual and business filers into what is/has happened with their tax return processing, reasons for potential delays, when a refund will be paid or why it is delayed. Given the long delays in IRS processing over the last few …
During the COVID pandemic years of 2020 and 2021, the American Rescue Plan (ARPA) included legislation that provided a “lookback” rule that allowed tax filers to use prior year income levels to calculate qualification for many of the expanded tax credits and stimulus programs. This was done to allow the …
With rising inflation many states are raising the minimum wages in their states, often above the mandated federal minimum. The good news for lower-income workers, where the minimum wage is barely enough to survive, is that the minimum wage has been steadily going up in many states. Note that the …
The election certainly surprised many with Democrats retaining control of the Senate, while Republicans squeaked over the line to take control of the House with a small majority. Per my earlier update below, this does change the calculus of what may happen in the next two years as both parties …
Soaring inflation and related Fed rate hiking actions had a silver lining for many social security recipients with the SSA confirming a 8.7% increase in Social Security benefits and Supplemental Security Income (SSI) payments in 2023. This is in line with earlier projections and is one of the largest increases in forty years. The 2023 …
Are we headed for a recession or we are already in one? That’s the question many people asking nowadays. Even if your financial situation is relatively stable today, its important to pay attention to the economic headwinds. While we can all hope for the best, we should plan and prepare …
With short-term interest spiking thanks to the Federal reserve’s aggressive rate hiking cycle, the yield on short term treasuries have reached levels not seen in several years. In fact, the rates for the 1 year and 2 year treasury bonds are much higher than the average APY on the highest …
[November Update] With additional funding in place now, the IRS has now hired nearly 5,000 people across their operations and taxpayer assistance centers to deal with filing backlogs, delayed processing and customer service issues. Along with a new IRS commissioner (Danny Werfel) in 2023, the IRS is gearing up for …