Andrew Cline / Shutterstock.com At this point, higher taxes seem to be more a question of when than if. Tax increases for the wealthy and corporations were a central part of President Joe Biden’s campaign, and he confirmed in a recent interview with ABC News that such tax hikes remain …
Read More »How to Get COVID Financial Relief When Filing Your Taxes
The impact COVID-19 had on 2020 was immense. Hundreds of thousands of Americans lost their lives, and many more felt the grief from those losses. Illness, job loss, cut hours — and almost everyone suffered the loss of social connection and routines we once enjoyed. Compare Tax Software Options View …
Read More »Keep This List Open When Filing Your Income Taxes For YA 2020 So You Don’t Miss Any Claims
It’s tax season again for Malaysians earning over RM34,000 for the Year of Assessment (YA) 2020. Tax residents can do so on the ezHASiL portal by logging in or registering for the first time. If you’ve received your Income Tax Return (EA) Form, you may start filing your taxes now, …
Read More »Will Stimulus Checks Increase Your Social Security Taxes?
Photo by Pavel Kubarkov / Shutterstock.com Everyone loves a free check. Seeing Uncle Sam suddenly drop money into your savings account is likely to stoke your patriotic spirit. But is there a downside to all that unexpected money? Specifically, if you are a senior, is it possible that the stimulus …
Read More »12 States Where Older Homeowners Can Defer Property Taxes
UfaBizPhoto / Shutterstock.com If you’re living on a fixed income or struggling to hold on to your home, you might be relieved to learn about property tax deferral programs. Generally offered through state or local governments, these programs enable eligible homeowners to postpone paying part or all of their property …
Read More »8 Things That Can Happen If You Don’t Pay Taxes
Krakenimages.com / Shutterstock.com Pull out your shoebox of receipts and clear your calendar: Tax Day — April 15 — is almost here. But what happens if you don’t file a tax return? Will the IRS even notice? Um, yes. Even if you don’t file, your boss, mortgage company and bank …
Read More »Will You Owe Taxes on Last Year’s Stimulus Payments?
Krakenimages.com / Shutterstock.com Two stimulus payments have arrived electronically in most Americans’ bank accounts — or as checks or debit cards in the mail — over the past year as Uncle Sam’s way of helping us get through the coronavirus pandemic. But now, a lot of people are nervous, wondering …
Read More »Here Are the Taxes You Pay on /r/WallStreetBets Investment Gains
Much of America — and other parts of the world — was caught up in the excitement of the investment success of the /r/WallStreetBets Reddit forum in late January, in which a bunch of small-scale investors identified a weak spot in the stock market and successfully exploited it, creating a …
Read More »5 States Lowering Taxes This Year — and 2 Raising Them
Dmitry Demidovich / Shutterstock.com Taxes are a hot topic in 2021. The new president has promised to raise taxes on the wealthy, and the Tax Foundation reports 26 states and the District of Columbia have made noteworthy changes to their tax codes. In some states — such as Arkansas and …
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