FreezeFrameStudio | E+ | Getty Images If you ended up tapping your nest egg due to Covid last year, don’t forget the taxman. Most people did not take an early distribution from qualified retirement accounts — i.e., a 401(k) or individual retirement account — as permitted under temporary rules for last year, according to plan
Personal finance
Hispanolistic New $1,400 stimulus checks could be on the way to millions of Americans now that the House of Representatives has passed the latest coronavirus relief bill. The fate of those payments now rests in the hands of the Senate, which is due to begin considering the proposed legislation this week. The terms have called
Sen. Elizabeth Warren, D-Mass., holds a news conference to announce legislation that would tax the net worth of America’s wealthiest individuals at the U.S. Capitol on Mar. 1, 2021 in Washington. Chip Somodevilla | Getty Images News | Getty Images A slew of Democrats on Capitol Hill — including progressives Sen. Elizabeth Warren, D-Mass., and
Brothers91 | E+ | Getty Images One year into the coronavirus pandemic, women are not OK. More than 2.3 million have left the workforce since February 2020, bringing their labor participation rate to levels not seen since 1988, according to the National Women’s Law Center. In December alone, women accounted for 100% of the jobs
ozgurcankaya Americans are not messing around this tax season. In just one week since the tax filing period opened on Feb. 12, the IRS received nearly 35 million individual tax returns, according to data released by the agency on Thursday. The rush of returns far outpaces what the agency saw last year, even before the
Laura Crovo still has some lingering Covid symptoms, despite having contracted the virus last April. It’s been 10 months since Laura Crovo has felt entirely normal. Since testing positive for Covid last April, the 41-year-old Marylander has yet to shake off all of her symptoms. And on top of battling them — mostly a racing
A Feb. 18 rally celebrating the California Labor Commissioner’s order for a McDonald’s franchise to rehire and compensate workers who went on strike for coronavirus protections was held on Feb. 18, 2021. Lucy Nicholson | Reuters The fight for a $15 federal minimum wage just hit a major roadblock. On Thursday, nonpartisan Senate parliamentarian Elizabeth
Stony Brook, N.Y. First day of the 2020 fall semester at Stony Brook University. Newsday LLC | Newsday | Getty Images Some of the most selective colleges and universities are seeing a surge in applications for incoming freshmen this fall. Yet other schools are struggling. That may present an opportunity for families to try to
Al Drago | Getty Images News | Getty Images Unemployment benefits extended Those programs include Pandemic Unemployment Assistance for self-employed, gig and other workers who don’t qualify for state-level assistance; and Pandemic Emergency Unemployment Compensation, which pays extra weeks of state benefits to the long-term unemployed. The bill would offer PUA recipients a maximum 74
Brothers91 | E+ | Getty Images If getting health insurance through a public exchange has been too pricey for you, that could soon change. The $1.9 trillion Covid stimulus package that’s expected to clear the House of Representatives on Friday includes several provisions that aim to make health care more affordable for households. They include:
Austin Goergen, a student at Oregon State University, started a petition last year to allow dependents ages 17 and up to qualify for stimulus checks. Austin Goergen Washington lawmakers are one step closer to authorizing new $1,400 stimulus checks for millions of Americans. This time, one big group could become eligible for the first time:
Despite widespread job losses and financial uncertainty, Americans are faring well by most measures during the coronavirus pandemic. Federal relief, such as stimulus checks, expanded unemployment benefits and an extended pause in loan repayments, have even given some a boost. Consumers are paying down debt and saving more than they have in decades. Many are
Fabio Camandona | iStock | Getty Images For Covid-vaccinated individuals in the 65-and-over crowd, hitting the road (or sky) may become more alluring than it’s been in nearly a year. Be sure to consider whether your Medicare plan will travel with you. While coverage when you’re away from home depends partly on your destination, it
Hinterhaus Productions As Congress works to finalize its latest coronavirus relief bill, some American families are poised to receive a financial windfall. Between new $1,400 stimulus checks and an enhanced child tax credit, that could add up to more than $14,000 for some families. “All of the focus has been on the $1,400 when, in
After staying home for nearly a year, Americans would give anything to hit the road again. Anything. Desperate vacationers said they would willingly give up love, sex or money in exchange for a trip, according to a recent survey by travel search site Trivago. More than 80% of those polled said travel is a part
Avishek Das | LightRocket | Getty Images Got bitcoin or other crypto? It could come back to bite you if you don’t let the IRS know about it. Regardless of how you interacted with any cryptocurrencies last year, you’re expected to include the information on your 2020 tax return. And for those who had income
Kathy Kraninger, former president Donald Trump’s appointee to head the Consumer Financial Protection Bureau. Andrew Harrer/Bloomberg via Getty Images “Big deal” Both are a type of qualified mortgage, a category that carries legal protections for lenders from consumer lawsuits. That may happen, for example, if borrowers can’t make monthly payments and lose their homes to
Volunteers load cases of water into the bed of a truck during a mass water distribution at Delmar Stadium in Houston on Feb. 19. Justin Sullivan | Getty Images Some taxpayers are getting more time to file their 2020 returns. For individuals and businesses located anywhere in Texas — much of which has been declared
Al Drago | Getty Images News | Getty Images The measure, the American Rescue Plan Act of 2021, would pay unemployed workers an extra $400 a week through Aug. 29. Those additional relief payments would raise federal spending by about $163 billion through 2022, according to a cost estimate the Congressional Budget Office issued last
In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display in front of the Bitcoin course’s graph on February 09, 2021 in Paris, France. Chesnot | Getty Images Bitcoin‘s roller-coaster ride has continued, flashing a warning sign for curious investors who may be interested in putting money in the highly