December 22, 2020
The legislation would provide direct payments of $600 to most Americans and their children. Those with incomes of more than $100,000 would be excluded, as would undocumented immigrants. The payments will go out as soon as next week.
November 25, 2020
The CARES Act includes several temporary tax changes helping charities, including the special $300 deduction designed especially for people who choose to take the standard deduction, rather than itemizing their deductions.
November 17, 2020
Anyone who doesn’t normally file a tax return and hasn’t received their coronavirus stimulus payment has until 3 p.m. EST this Saturday, Nov. 21, to register with the IRS for an Economic Impact Payment. The only way remaining to get a payment in 2020 is to register using the Non-Filers: Enter Info Here tool on...…
October 9, 2020
COVID-19 brought financial challenges to much of the public and forced companies to reimagine how business is done. Congress responded with generous relief, much of which runs through the tax code.
October 6, 2020
People who haven’t received a Coronavirus stimulus payment, and don’t typically file a tax return, can use an online tool to request their payment, up until Nov. 21.
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September 29, 2020
According to documents released by Biden’s campaign Tuesday, the former vice president and his wife, Jill, got a refund of $46,858 after paying $346,204 in income taxes. He reported a taxable income of $944,737, paying 31.7% of it in taxes
September 23, 2020
Small Business Week, Sept. 22-24 is a good time for individuals to consider taking the home office deduction if they qualify. The benefit may allow taxpayers working from home to deduct certain expenses on their tax return.
September 11, 2020
Employers have a growing list of concerns lately, including losing their top performers, new research from global staffing firm Robert Half shows. A large majority of senior managers surveyed (88%) said they are worried about their ...
August 19, 2020
The report shows that $20.6 billion in hotel CMBS loans were 30 or more days delinquent as of July, compared to $1.15 billion as of December 2019. The highest volume of delinquent hotel loans during the Great Financial Crisis was $13.5 billion.
August 4, 2020
Federal, state, and local officials scrambled to support struggling businesses and individuals when the coronavirus (COVID-19) first hit. They placed temporary moratoriums on evictions, pushed income tax due dates to July 15, and waived interest and ...
July 30, 2020
Gross domestic product shrank 9.5% in the second quarter from the first, a drop that equals an annualized pace of 32.9%, the Commerce Department’s initial estimate showed on Thursday. That’s the steepest annualized decline in quarterly records dating ...
July 23, 2020
Instead of a payroll tax cut, the GOP will now back $1,200 checks for individuals who make up to $75,000 a year, exactly as in the March stimulus bill. Mnuchin said that would get money into the economy faster than cutting the payroll tax, which would ...