Category: Taxes and Retirement

Not only has the COVID-19 pandemic thrown a wrench into our everyday lives, but its impact will also be felt by many as they file their 2020 tax returns next year. Unemployment, freelancing/gig-workers and the many federal stimulus payments will present challenges to millions of Americans when it comes to…

I am sure you have heard the old adage that by getting a tax refund you’re giving an interest free loan to the IRS. Well there is a little more to this statement that may slightly alleviate the pain for millions of tax filers who have faced months of delays…

No new federal stimulus check has been authorized for 2026. The last round of federal Economic Impact Payments went out in 2021, and a fourth check would require Congress to pass new legislation — which has not happened. That said, there are real payments going out to Americans in 2026,…

The higher average refund amount in 2023 is driven by those expecting a refund filing as soon as they could. While those who owed taxes or were not expecting a refund will wait right up to the tax deadline this year to file their return and pay any taxes owed.…

Under the now approved $1.9 Trillion Biden Stimulus Package, or American Rescue Plan (ARP), there are provisions included for another round of stimulus checks. The amount being paid for this third round of stimulus “checks” is $1400 for each adult and qualifying dependent, Non-filers, or those who have not filed a recent tax…

Many self-employed, independent contractors and gig workers who had been made eligible for unemployment insurance benefits under Enhanced Unemployment provisions within the CARES act are still unable to successfully file claims several weeks after the law was passed due to delays in states processing unemployment claims and completing income verification…

There has been a lot of debate over the last few months on if another stimulus check payment will be made in 2022 or even in 2023 as the economy worsens and inflation takes a heavy toll on household budgets. You can see this article for a more detailed discussion, funding for…

Update July 2021 - The number of Americans filing new unemployment claims changed trend and increased for first time in several months, but layoffs are easing amid a reopening economy and a shortage of people willing to work. With unemployment benefits ending early in many states it is expected that…

There is no 4th stimulus check. The three federal Economic Impact Payments issued during 2020 and 2021 are complete — the IRS has finished distributing all payments under those programs, including a final auto-payment push in late 2024 for people who missed the 2021 credit. If you're reading this because…

The maximum SNAP benefit for a family of four in fiscal year 2026 is $994 per month — up from $975 last year. If you’re a single adult, the max is $298/month. But 2026 is a more complicated year for SNAP than most. The One Big Beautiful Bill (OBBB) made…

Under the recently enacted CARES act that is providing $2 trillion in federal bailout funding financial institutions like mortgage companies, banks and online lenders now have to allow people who have lost their job or seen a significant reduction in income to make reduced payments or to skip payments (for…

Under President Biden’s $1.9 trillion federal coronavirus relief package, enacted as the American Rescue Plan (ARPA), enhanced unemployment benefits have been extended until September 6th, 2021. This includes further extensions to the PUA program, PEUC program, $300 weekly payment under the FPUC program and $100 Mixed Earners (MEUC) program. The ARPA also contained provisions for Unemployment tax…

[2023 Update] The SECURE 2.0 Act is a new law that aims to strengthen the nation's retirement system. Some of the key changes brought about by the Act include increasing the age at which required minimum distributions (RMDs) must be taken from retirement accounts to 73 starting in 2023 and…