MARK RALSTON | AFP | Getty Images There’s a chance that at least a couple of people will end 2020 far wealthier than most of us. With no ticket matching all six numbers drawn Tuesday in Mega Millions, the jackpot has jumped to $401 million for Friday night’s drawing. Powerball’s top prize isn’t far behind,
Month: December 2020
Regardless of your profession, employment status, or location in the U.S., it’s likely that you’ve been financially impacted by COVID-19 in one way or another. The undeniable hit to our economy has proven more than detrimental for millions, and for some, the changes have forced revisions to how we view our current state and the
The Treasury Inspector General for Tax Administration so far hasn’t uncovered any evidence that sensitive taxpayer data was accessed during cyberintrusions at multiple federal agencies, including the Treasury Department and the Internal Revenue Service, blamed on Russian government hackers. “At this time, there is no evidence that any taxpayer information was exposed,” Inspector General J.
Traders work on the floor of the New York Stock Exchange. NYSE The pandemic turned 2020 into a year of unprecedented events — not the least of which was the swift crash and then record-fast recovery of the stock market. The market’s race higher has been in stark contrast to an economy that has been
Michael Nagle/Bloomberg via Getty Images Morgan Stanley will repay $1.7 million to customers who paid high costs on investments earmarked for education expenses like college tuition. The brokerage firm is paying the sum, including nearly $1.5 million in restitution plus interest, to about 2,300 customers who are saving money in 529 plans, the Financial Industry
You heard right – a second stimulus payout is on the way. Late on Dec. 27, President Trump signed the massive COVID-19 relief and government spending bill, which includes a second round of stimulus payments to eligible individuals across the country. To help bring you quickly up to speed, here’s a basic breakdown of the
Senate Majority Leader Mitch McConnell on Wednesday closed off chances that the Senate would pass anytime soon a House bill that would give most Americans $2,000 stimulus payments. The Kentucky Republican said the House legislation, approved in a bipartisan vote Monday, “has no realistic path” to quick passage in the Senate and that it falls
If you buy something through our links, we may earn money from our affiliate partners. Learn more. Besides providing quality products and services businesses have to make sure they accommodate the needs of their customers. Equally important is how your business is viewed by the public. This goes hand in hand with how you invest
From accounting to personal finance, learn how to manage money smarter. December 30, 2020 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. Entrepreneurs
The $600 stimulus checks from the latest Covid relief bill are officially on their way to bank accounts, according to two tweets from Treasury Secretary Steven Mnuchin on Tuesday evening. The checks could arrive as early as tonight for those who have direct deposit, according to Mnuchin. Your stimulus check will come this way if
Start a side gig in 2020? Whether you lost your job due to COVID-19, or you simply wanted to earn some extra cash, side gigs tend to complicate your tax filing a bit. Over the years, the IRS refined its rules for gig workers. But obviously, the IRS still wants you to pay taxes on
It goes without saying that the COVID-19 pandemic was the primary story of 2020, and most of the biggest stories in accounting for the year reflect its impact, in everything from the remarkably smooth move to remote work to a new range of services centered on the Paycheck Protection Program and other stimulus measures. What’s
Ty Wright | Bloomberg | Getty Images For car buyers, the end of the year typically marks the best time to get a great deal. Things look a bit different this time around. While there are still discounts and special financing on certain makes and models, those incentives generally are not as generous as in
With COVID-19 still wreaking havoc across the globe, the U.S. economy has been shaken. In the United States a record number of people are or were once unemployed due to COVID-related shutdowns. Fortunately, many of those individuals qualified for standard state unemployment benefits, plus the additional federal funds offered as a result of the CARES
The Internal Revenue Service and the Treasury Department said Tuesday evening that they are beginning to make direct deposits of the second round of economic impact payments as soon as Tuesday night for some taxpayers and will continue doing so through next week. They will start mailing out paper checks on Wednesday to taxpayers who
The world is ready to close the book on 2020 and start fresh in 2021, awaiting widespread vaccination, an end to the pandemic, and the beginning of a new chapter of economic recovery. With a fresh start in mind, and a healthy dose of optimism, here are three New Year’s resolutions for crafting better tax
A drive-in “Let’s Feed LA County” food distribution event hosted by the Los Angeles Food Bank on Dec. 4, 2020 in Hacienda Heights, California. FREDERIC J. BROWN | AFP | Getty Images However, states must wait to begin issuing the funds. The president’s signature starts a chain reaction that will likely end with workers getting
Did you buy stocks for the first time in 2020? Well, first, congratulations! Investing in the stock market is one of the best ways to grow your net worth. By investing in stocks, you are basically putting your money to work for you. Money you invest can earn interest and dividends. Over time, you can
The Securities and Exchange Commission announced that President Trump has named Elad Roisman acting chair of the agency. Roisman has been a commissioner at the SEC since 2018; he had earlier stints as a counsel ot SEC Commissioner Dan Gallagher, as chief counsel to the Senate Committee on Banking, Housing and Urban Affairs, as chief
Volunteers from Forgotten Harvest food bank at a mobile pantry distribution before Christmas in Warren, Michigan, on Dec. 21, 2020. Emily Elconin | Reuters President Donald Trump signed the $900 billion coronavirus relief bill on Sunday, solidifying another round of aid to Americans. Still, millions of families are staring down a gap in benefits that
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