Category: Government Rebates and Payments

[Updated with latest developments] President Biden and the Democrats have finally passed a scaled down version of the BBB act, known as the Inflation Reduction Act (H. R. 5376). Key provisions include: Medicare Savings: Introduction of a $2,000 annual cap on Medicare recipient contributions to prescription spending. This gives seniors…

[December 2022 update] Despite attempts by Democrats to restore the CTC to expanded pandemic levels, it is unlikely a funding bill will be passed before the end of the year. As a result the CTC will return to pre-pandemic levels and can only be claimed via your tax return filing.…

Despite a lowering of child and dependent care tax credits, many families will continue to get these valuable payments when filing a tax return in 2022 and 2023. But if you don't need the money or bonus refund payment to meet the most basic of needs like food and clothing,…

Bitcoin has traded above $99,000 for stretches of 2026 and also seen six-day runs of over $1 billion in spot ETF outflows in the same year. By the time you read this, both of those facts could be stale. That's exactly the problem with most "should I sell my crypto"…

This article was inspired by a few of my older family members who have had a discussion that generally goes like this: "Andy, I am hearing that Bitcoin and Dogecoin [or insert any Crypto currently in vogue] are the place to invest and have been doubling almost weekly. Is this…

With no further federal funding, several popular family and dependent tax credits that were expanded during the pandemic (see details in earlier updated below) have returned to pre-pandemic levels. This means many families and individuals will see a smaller refund, all else being equal, in the year ahead when filing…

Unless you have been living under an "investing" rock, it is clear that all things Cryptocurrency (Crypto) are in vogue. And despite trying to be a long term "smart" investor it is hard to ignore the buzz and massive gains - sometimes daily - being seen with various Cryptocurrencies like…

With one of the busiest tax seasons on record the IRS is caught between paying out the latest round of stimulus payments - $1400 per adult and $1400 per qualifying dependent (and this time adult dependents are included) - and processing 2020 tax refunds for millions of tax filers. The clear answer to the…

The IRS says that most refunds will be paid within 21 days, but many tax filers are finding out (yet again) that it could take much longer, despite filing early and getting their return accepted by the IRS. Waiting weeks, months or even a whole tax season for IRS updates…

I've been receiving numerous concerns from readers about the IRS messages and codes appearing when they check their refund status using the Where's My Refund (WMR) tracker, the IRS2Go mobile app, or their free IRS transcript. Many filers feel stressed and anxious when they see these codes, wondering what they…

Under the now approved Biden administration’s nearly $2 trillion stimulus package, also known as the American Rescue Plan (ARP), provisions have been added to provide relief for lower income and middle class Americans to save on Health Insurance if they are out of a job, and on COBRA benefit from their…

If you have kids under 17, here's the OBBBA update that matters to you: the Child Tax Credit just went up to $2,200 per child, permanently. That's $200 more per child than the 2017 TCJA rate, and the credit will now adjust for inflation annually — meaning it should keep…

[Updated with new IRS tool] The IRS has finally released their updated tool for non-filers to register for the soon to be paid Advance Child Tax Credit payments (see schedule here). Individuals and families who are not required to file a 2020 tax return or have not used this tool…