Secretary says she wants to find ‘fair’ solution for the limit Some Democrats are seeking repeal of $10,000 limitation U.S. Treasury Secretary Janet Yellen pledged to work with Congress to ease the $10,000 cap on state and local tax deductions...
If you didn't max out your 2020 Roth IRA contribution, it's not too late. The deadline for making your contribution isn't until Tax Day, typically April 15. But the IRS announced that it's extending the tax deadline to May 17....
While some Americans received their $1,400 stimulus checks from the government this weekend, the relaunch of the Get My Payment tool by the Internal Revenue Service has once again increased frustration. Many users, hoping to learn about the status of...
If you received unemployment benefits in 2020 and you’ve already filed your tax returns, the Internal Revenue Service is saying you don’t have to file an amended return to claim the new tax waiver on up to $10,200 of your...
The latest version of the $1.9 trillion federal coronavirus relief package could save millions of people who lost work due to the pandemic from a surprise tax bill. On Saturday, the Senate passed a version of the Covid bill that...
A dedicated team of IRS criminal investigation professionals is now working on identifying taxpayers who have omitted to disclose income from cryptocurrency. What Happened: In a Federal Bar Association presentation, Damon Rowe, the Director of the Office of Fraud Enforcement...
How is your state treating COVID loans made to companies? The U.S. Small Business Administration’s Paycheck Protection Program (PPP) is providing an important lifeline to help keep millions of small businesses open and their workers employed during the COVID-19 pandemic....
President Joe Biden has extended the government's lifelines that have helped homeowners keep their homes during the COVID financial crisis. Many mortgage holders have been only too eager to put their payments on hold, as allowed under the relief law...
Only 6.3 per cent of all rated Chinese developers can comply with the central bank’s red line limits on debt, according to S&P’s analysis Seven developers, or more than 20 per cent of those listed on the Shenzhen, Shanghai or...
The stock market may have recovered from the first shocks of the pandemic, but Americans’ retirement savings might not be as lucky. A majority of Americans — 60% — withdrew or borrowed money from qualified retirement plans since COVID-19 first...
The Hazards of Asset Allocation in a Late-stage Major Bubble The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble. Featuring extreme overvaluation, explosive price increases, frenzied issuance, and hysterically speculative investor behavior, I believe...
There will be "bumpy moments" for UK businesses and travellers as they get to grips with new EU rules, says government minister Michael Gove. He said there would be "practical and procedural changes" when the Brexit transition period ends on...
After months and months of delay, Congress has passed a $900 billion stimulus package that promises to accelerate vaccine distribution and deliver much-needed aid to small businesses and Americans who have been struggling to get by. What's happening: The White...
Popular trading platform exposed investors to ‘unnecessary trading risks,’ complaint says Massachusetts securities regulators filed a complaint Wednesday against the wildly popular trading platform operated by Robinhood Financial LLC, alleging the company aggressively marketed to inexperienced investors and failed to...
U.S. consumers took out more auto and student loans in October, but cut back on credit card borrowing, a sign that they remain cautious about spending amid a spike in virus cases. The Federal Reserve said Monday that consumer borrowing...
