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
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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.
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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
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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
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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
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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
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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
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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
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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
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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
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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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