STOCK MARKETS: Stock markets closed with mixed results this week. The Dow is down, the S&P is flat, and the Nasdaq is higher. 2023 is turning out to be a banner year for the tech-heavy Nasdaq. All markets were lower before rallying on Friday when President Biden told reporters that a deal to raise the [...]
Household debt rose to new levels in 20 years — jumping $394 billion in the fourth quarter of the year alone — driven by credit card balances and auto loans. A February 16 report from the Federal Reserve Bank of New York's Center for Microeconomic Data(opens in new tab), highlighted that U.S. household debt hit a [...]
The annotations show the locations he supposedly visited in connection with either business. For several reasons, the Tax Court didn’t find this evidence credible. A taxpayer who deducted expenses attributable to the business use of his vehicles took a wrong turn before the Tax Court. Ultimately, he wasn’t able to back up his claims (Eze, [...]
The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns. After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate, the Internal Revenue Service has provided clarifying the federal tax status [...]
The tax filing season is a popular time for scammers to call and try to dupe unsuspecting taxpayers. These thieves often make threatening or alarming calls posing as the IRS to try to steal taxpayer money or personal information. However, it’s easy for people to recognize this scam by knowing how the IRS contacts taxpayers. [...]
There are hopes to get the third round of pandemic relief legislation signed into law by mid-March, meaning a third stimulus check totaling $1,400 per qualifying individual could be just a few weeks away. These payments are part of a large $1.9 trillion COVID relief bill designed to help those in need. How do I ensure I [...]
If your organization isn’t letting people go, the one next door probably is. That’s a key finding from a survey released Thursday by consultant PwC, which last month polled more than 700 US executives and board members across a range of industries. Half of respondents said they’re reducing headcount or plan to, and 52% have [...]
Stock up on Forever stamps now, or forever hold your peace. The United States Postal Service’s plan to raise stamp prices is taking effect on July 10. The price of a Forever stamp will rise from 58 cents to 60 cents. A Forever stamp, as its name suggests, can be used to mail a letter regardless of [...]
The IRS has begun mailing out CP14 notices to millions of taxpayers who have a balance of $5 or more in unpaid taxes, kindly reminding them that the federal government would like its money. “The IRS in not too active collecting immediately after tax season. After all, they have a lot to do. But come [...]
As work and work life continue to evolve, companies are exploring whether a shorter week can solve some of the workforce's biggest challenges. hai and Naomi Aharony, managing directors of London-based digital PR agency Reboot, have embraced a new normal – in March, they moved their company to a four-day work week. The pair were [...]