For millions of Americans, there’s an unwelcome side of the return to business-as-usual after the pandemic: They’ll have to start repaying their student loans again. More than 40 million holders of federal loans are due to start making monthly instalments...
The tax levied on estates of wealthier Americans upon death brings in a relatively small amount of money — about $13.2 billion in 2019, less than one one-hundredth of what was raised through individual income taxes ($1.7 trillion). But the...
Student debt relief has helped millions of Americans during the pandemic. Since March 27, 2020, federal student loan interest rates have been set to 0% and payments have been paused. But the policy is currently set to expire on Oct....
Unclear IRS guidance regarding how long beneficiaries are required to take payouts from inherited IRAs continues to bedevil estate and retirement planning. At the heart of the matter is the IRS’s new guidance, Publication 590-B, which seems to indicate that...
Thanks to the pandemic, it's been another oddball tax season. The original deadline for filing 2020 federal income tax returns would have been April 15 but the ongoing disruptions, including a backlog at the Internal Revenue Service from last year,...
Investing nearly $20,000 per year can equal a lot of money when it comes time for you to retire decades in the future. Most people are allowed to contribute up to $19,500 to their 401(k) in 2021, but the limit...
Whether you're gearing up to apply for a mortgage or you simply want to give yourself a financial checkup, it's a good idea to check your credit report. You actually have three different reports, one for each of the three...
About 39 million families will start receiving payments from the new, refundable child tax credit on July 15, the Treasury Department announced Monday. Authorized by the $1.9 trillion American Rescue Plan signed into law by President Joe Biden in March,...
Did you trade or sell Bitcoin, Ether, or other digital currencies in 2020? If so, you’ll have information you need to report on your tax return. With the tax deadline rapidly approaching, TaxBit’s CPAs and tax attorneys are breaking down...
As wealthy Americans took advantage of cheap mortgages, increased savings and the ability to work from home during the pandemic, their demand for bigger homes and million-dollar listings outpaced sales of homes across all other price ranges. The number of...
American families are set to receive a more generous child tax credit for 2021. Starting in July, the IRS will begin sending out monthly payments of $250 or $300 through December to low- and moderate-income families who qualify, depending on...
More than 2 million homeowners who thought they couldn't afford to refinance their mortgages — which can provide huge savings over time but takes a bit of cash upfront — can now get a cheaper loan through a new government...
Meme-based cryptocurrency Dogecoin fell on Tuesday after hitting an all-time high in a wild session that saw supporters of the token once considered a parody use hashtags to fuel a rally until it lost steam. Dogecoin ultimately fell 15.4% to...
Losing a job doesn't just mean saying goodbye to a paycheck. It often means losing health insurance. Though not all employers provide subsidized health insurance to their staff, many do, so getting laid off can deal that extra financial blow...
Q1 2021 in Review There appears to be light ahead in the tunnel. Since the vaccines have been made available through the US, millions of Americans per day are getting vaccinated. About 40% of Americans have received at least one...
