Tag: government finance

From stimulus checks and bitcoin to mask write-offs — read this checklist before the tax filing deadline on May 17

If taxes are a certainty in life, so are the people who wait until the last minute to file. Well, that last minute is getting...

Opinion: Biden’s plan to raise capital-gains taxes on the rich is good politics but bad economics

The leak about the second phase of proposed tax increases concerning capital gains pushed the investor community into a frenzy. While the details of the...

Bitcoin suffers biggest weekly loss since March 2020

The price of bitcoin temporarily dropped below the psychologically important $50,000 level on Friday, putting the digital asset on track for its worst weekly performance...

If you’re in your 50s or 60s, consider these moves to avoid higher taxes in retirement

If you are working with an eye toward retirement or even semiretirement, you are probably (hopefully) saving more than you could in the past in...

Germany’s federal election may be the Georgia Senate race of the autumn

When the U.S. Senate surprisingly fell into Democratic hands after the Georgia runoff race, the financial market impact was monumental. The move was most obviously...

April 15 is not tax day in 2021, but it’s still a crucial deadline for some taxpayers — are you among them?

But the words normal and typical don’t seem to apply to anything these days, and this year’s tax season is no exception. So the simple...

U.S. government bonds see muted action as investors parse Powell comments, await big auctions

U.S. Treasury yields were seeing subdued moves Monday morning, as investors parsed comments from Federal Reserve Chairman Jerome Powell during a “60 Minutes” interview and...

Expecting another refund after the IRS calculates the $10,200 unemployment tax break? You might want to do more than just wait

The Internal Revenue Service says it will automatically readjust tax returns and issue extra refunds for people who already filed their taxes before a valuable...

When can I deduct business meal and entertainment expenses under current tax rules?

The federal income tax treatment of business-related meal and entertainment expenses has been a moving target. If you’re confused about what rules currently apply, I...

New York officially approves legal online sports betting

New York state has announced it approved a budget for its fiscal year 2022 that would allow for legal online wagering in the state for...

Most people couldn’t correctly answer this pandemic-related tax quiz. Can you do better?

The pandemic’s economic fallout is putting people’s tax knowledge to the test, and they’re not passing with flying colors. A new survey indicates that many...

Taxpayers won’t have to file extra paperwork to get this valuable unemployment tax break, IRS confirms

The Internal Revenue Service has an important message for people who already filed their 2020 taxes before a valuable tax break became law. Don’t do...

‘A life-changing achievement’ — what the $1.9 trillion COVID bill means for families with kids

America’s families with children are one step closer to a cash infusion that could potentially lift millions of kids out of poverty and be the...

Under $1.9 trillion stimulus bill, jobless Americans who earned less than $150,000 last year will save an average of $1,000 in taxes

This time, it’s different. Unlike the first two COVID-19 stimulus packages, the new $1.9 trillion stimulus package adds tax relief onto another round of federal...

Dow aims for gains early Monday but rising bond yields slam tech stocks

U.S. stocks opened mostly higher Monday, with tech-related shares coming under additional selling pressure as government bond yields extended their climb following Senate passage of...

Millions of Americans who were unemployed last year face another shock: A 2020 tax bill they can’t afford

As Americans prepare to file their 2020 income taxes, a new Democrat-backed bill wants to block federal income taxes on the first $10,200 a person...

As rising Treasury yields spook stock investors, March looms like a lion

After a frenetic February, investors are probably hoping that March holds true to its proverb: In like a lion out like a lamb. Indeed, February...

$1.9 trillion coronavirus aid package set to clear House late tonight

House Democrats hope to clear President Joe Biden’s $1.9 trillion economic package late Friday and send it on to the Senate, where it will face...

U.S. government bonds just staged epic yield climbs.What’s next?

U.S. Treasury yields saw a steady rise in rates ignited into a surge on Thursday, putting government debt across the curve on track to mark...

Need to report bitcoin trades on your taxes? Here are 5 things to know first

Treasury Department Secretary Janet Yellen is not big on bitcoin, a point she reiterated recently when she called the digital currency speculative and “inefficient.” That...

Last-minute strategies for lowering your 2020 business tax bill

Although 2020 is history (thankfully), business taxpayers can still take actions that will lower last year’s federal income tax liability and/or federal income tax liabilities...

Elizabeth Warren calls for new leadership to oversee student loans — and calls Betsy DeVos era a ‘disaster’

When Congress ordered the Department of Education to stop garnishing the wages of borrowers who defaulted on their student loans as part of the CARES...

Opinion: 5 tax-related policies Biden can push to help small businesses truly recover from COVID-19

As President Joe Biden and his administration establish their plans to combat the pandemic and revive the economy, one thing cannot be understated—small businesses and...

Yellen says raising minimum wage to $15 would have ‘minimal’ impact on jobs, but nonpartisan Congressional Budget Office disagrees

Raising the minimum wage to $15 an hour from $7.25 would help the U.S. economy more than it would harm it, Janet Yellen, President Joe...

Counting on a tax refund or stimulus check? 5 things to know before filing your taxes

This year’s tax season will start against a very different backdrop. Approximately 18 million people are on some form of unemployment assistance and savings rates...