IR-2021-212, November 1, 2021 WASHINGTON — The Internal Revenue Service recently sent approximately 430,000 refunds totaling more than $510 million to taxpayers who paid taxes on unemployment compensation excluded from income for tax year 2020. The IRS efforts to correct unemployment compensation overpayments will help most of the affected taxpayers avoid filing
ASSETS The Bankruptcy Code has a list of exempt property that basically serves as a model for state laws. In some states, debtors can apply these federal exemptions to their property; in other states, debtors must use the ones provided under state law. There is an important caveat. If the
In the United States, credit card use is a common occurrence. The problem? When you find yourself looking at a balance due that is far larger than you can pay off in a couple months. As of March 2019, the Federal Reserve has found that the total credit card debt
IR-2021-211, October 29, 2021 WASHINGTON — On Monday, November 1, the Internal Revenue Service will launch a new feature allowing any family receiving monthly Child Tax Credit payments to update their income using the Child Tax Credit Update Portal (CTC UP), found exclusively on IRS.gov. To help families plan ahead,
The prospect of negotiating a business deal can make even the most confident among us nervous. You want to make the best deal for the company, but you don’t like confrontation, and you worry that the other side will get the better of you. Sleepless nights are not uncommon. If
To stay out of financial trouble in the future you need to understand your financial weaknesses, and work to stay clear of them. Reduce Reliance on Credit Cards If overuse of credit cards got you into trouble, try living without them for awhile. Use a debit card instead, but use
IR-2021-210, October 27, 2021 WASHINGTON — Victims of Hurricane Ida in parts of Mississippi now have additional time – until January 3, 2022 – to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. Following last week’s disaster declaration by the Federal Emergency
Bad things occasionally happen to good contract parties. Let’s assume you’ve done everything right in the negotiation process. You’ve been transparent about risk; honest about your capabilities; and pellucid in setting your terms. Indeed, your contract documents cause veteran lawyers to gasp at their thoroughness and shrewdness. You have planned
If you are currently spending too much to reach you savings or debt reduction goal, you have two options: 1) increase your income; and/or (2) cut your expenses. Increasing Your Income Increasing your income may or may not be a practical solution given the nature of your job and the
IR-2021-209, Oct. 22, 2021 WASHINGTON — The Internal Revenue Service today reminded families, teens and senior citizens about the continued importance of protecting personal and financial information PDF online. Although the IRS and its Security Summit partners continue making strides in fighting identity theft and fraudulent tax returns, help is needed. The Security Summit works to protect
