7 Considerations for the 2021 Tax Year – Individuals and Small Business Tax Breaks, Credits & Deductions When Filing in 2022

The 2021 tax year will be quite different from 2020. This article will cover some of the main tax changes, so you don’t miss out on any of the major tax credits or deductions. It will also help you plan for some of the expiring tax breaks and protections from …

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Social Security and SSI Raise via COLA Increase Highest Since Global Financial Crisis

The SSA released the final figure for the 2022 COLA increase which affects nearly 70 million Americans collecting social security and SSI benefits. The 2022 raise was 5.9%, which translates to an extra $92 in retirees’ average monthly benefit next year. It was nearly 5 times last years increase. The …

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Latest Update on your IRS Tax Refund Processing and Payment Status – How Returns With Errors are Handled

Its been a frustrating time for millions of Americans still waiting for their tax return to be processed so that they can get their much needed refund payments. The IRS guidelines state that 9 out of 10 returns should be processed within 21 days but as many tax payers have …

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How Much Money Do You Really Need to Be Financially Independent?

Most people dream of living a comfortable life without worrying about money. Though many people see this as lofty dreaming about yachts and summer homes, more and more people are turning these ideas into an achievable reality and gaining financial independence at a staggering rate. Financial independence means that you’re …

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How The Democrat’s Tax Proposal To Fund Their 2022 Stimulus Package May Impact You Via New Taxes and the Companies You Work For

The House Ways and Means Committee has released the Democrat’s proposed tax increases to fund their $3.5 Trillion social infrastructure economic stimulus package. These tax hikes and changes, estimated to raise $2 trillion, are just proposals at this stage. In order to get the vast majority of Democrats on board …

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Federal Unemployment Benefits Extension and $300 Boost To End But States Can Likely Use Existing Stimulus Funding To Extend State Unemployment Benefits

The Biden Administration has now confirmed that they won’t extend federally funded unemployment benefits past the September 6th expiration date. They are instead encouraging states with high unemployment or hit hard by COVID-19 Delta to use existing ARPA stimulus funding to extend and expand traditional state unemployment benefits for as …

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What If I Have A Claim Balance or Weeks Remaining After September When 2021 Unemployment Benefit Extensions For PUA, PEUC and $300 Weekly Boost End

With federal unemployment benefits expiring after the week ending September 4th in states that didn’t end pandemic benefits early, many are asking what will happen to their active claim balance if they have weeks left after the expiry date. The answer unfortunately is that active balances under the PUA and …

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Pending Unemployment Benefits To Be Paid Conditionally

In response to ongoing delays in making timely unemployment benefits payments, California’s Unemployment Agency – The Employment Development Department (EDD) – has announced that it will begin paying unemployment insurance benefits for claimants whose payments have been pending for at least two weeks. While this currently only being done for …

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Extended Benefits Still Available after Unemployment Ends? Or Extended Due to Delta COVID strain as the Unemployment Pandemic is Far From Over? Biden vs State Funding

As the COVID-19 Delta variant spreads rapidly across the US many are worrying about the economic impact from additional regulations, state/national safety mandates and business reopening delays. But even of more concern to millions of jobless or under-employed Americans, still recovering from the pandemic induced slow down, are the end …

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Still Waiting For Your Tax Refund or Stimulus Payment? Join the Queue as Delays Likely to Persist With IRS Tax Return Processing – Latest News and Updates

The Taxpayer Advocate Service (TAS) has released an updated report on the IRS Tax Refund processing and the news is not great as the same issues persist. While the backlog has shrunk, it is expected to grow again once more tax returns are filed after the October 15th extension deadline. …

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Will The Debt Ceiling be Raised and Who’s to Blame for This Mess – Republicans or Democrats? Latest Updates and News

[Oct 2021 Update] Republicans and Democrats reached a temporary comprise on raising the debt limit. Under bill S. 1301, the debt limit was increased by $480 billion, which is expected to be sufficient to allow the Federal Government to continue to meet its full commitments through early December. This issue …

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