Crystal Bui
Updated: February 26, 2021 05:16 PM
Created: February 26, 2021 04:22 PM
Filing taxes could be trickier this year because of the pandemic. Unemployment, working from home and stimulus payments may need to be accounted for on the 2020 tax return.
Many experienced new financial situations during the pandemic that will affect the way 2020 taxes are filed.
Not to change the topic here:
Senate Democrats Look for Backup Plan to Raise Minimum Wage Through Taxes - WSJ
WASHINGTON—Senate Democrats began preparing a backup plan Friday for raising the minimum wage at some large companies as part of their coronavirus relief package, after the chamber's parliamentarian ruled out including a broader increase .
Backed by Senate Majority Leader Chuck Schumer (D., N.Y.), two committee chairmen are working on a new, more limited proposal that would use the tax system to prod employers to raise wages.
The plan would impose tax penalties on large companies that aren't paying the higher wage Democrats seek and create tax incentives for small companies to do so. Democrats hope the chamber's parliamentarian would allow them to include the modified plan in the coronavirus relief package .
Why you should file taxes before receiving the next stimulus check | WWLP
The COVID-19 pandemic has created a lot of confusion while filing taxes, especially when it comes to the stimulus check.
To be clear, you do not need to pay taxes for your stimulus check, it is tax-free. But you will need to indicate if you received one or both checks.
22News spoke with Ray Maagero, owner of Liberty Tax, who explained, “If you didn’t receive your stimulus payment in the early summer or the one in January and even into February, you want to make sure that you put down the amount you did not receive on the tax return so you do get the stimulus money that’s due to you.”
Bloomberg - Are you a robot?
Many things are taking place:
People can't file their income taxes fast enough and COVID-19 has put 'financially vulnerable'
The IRS has received approximately 21% more individual returns than the agency received last year by Feb. 7, which was 12 days into the tax season last year.
For the first time, the IRS is asking about virtual currency transactions on the first page of its main income tax form.
Applications for early admission, long seen as the easier path to elite schools , soar, and so do rejections.
Jamie Mackay, a real estate developer with properties in Wyoming and Montana , was shopping for land in 2018 to expand into Park City, Utah. He thought he would just recreate the formula of his Fireside Resorts, which combine camping, a luxury hotel suite and a private vacation rental cabin into one.
Prosecutors just got millions of pages of Trump documents. His taxes are only the beginning.
The criminal investigation into Donald Trump's financial dealings is entering a new and potentially perilous phase for the former president.
Trump had fought for more than a year to keep his records out of the hands of Manhattan District Attorney Cyrus Vance. But after a Supreme Court decision this week cleared the way for the documents' release, they have been given to Vance's investigators.
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Vance has enlisted outside experts, including a forensic consulting firm, to help pore over the vast collection of records in search of any improprieties.
File Your Taxes For Free | WTRF
Free File, where you can prepare and file your federal individual income tax return for free using tax-preparation-and-filing software.
Brilliant, OH (WTRF)- The COVID-19 Pandemic isn't the only crisis we're facing. Medical officials are talking about the Opioid epidemic, and it's raging on in parts of the world, Ohio especially.
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Moundsville, W.Va. (WTRF)- A Marshall County man has been sentenced to four years for wanton endangerment with a firearm.
Bill in Minnesota House would forgive state portion of income taxes on extra unemployment
While the state withheld taxes on regular unemployment benefits (which are taxed like regular income) for filers requesting the withholdings, it did not withhold taxes from the extra $600 weekly payments from the CARES Act and the $300 weekly supplemental unemployment payments created by the action of President Donald Trump.
DEED notified unemployment recipients that the payments wouldn't have taxes withheld, but some people were still caught unaware when they did their taxes, or assumed the payments would not be taxed as income since stimulus payments weren't.
Happening on Twitter
Imagine thinking in the middle of a global pandemic: 'What's really important is dropping the 'Mr' from Mr Potato H… https://t.co/wie6jh7EWO piersmorgan (from London, Newick, LA.) Thu Feb 25 17:55:06 +0000 2021
After making billions in pandemic profits, Kroger suddenly decided to close two stores in Seattle after workers at… https://t.co/naQUu3cvNl RepJayapal (from Seattle, WA) Fri Feb 26 21:08:18 +0000 2021
Bouncing back from months of retrenchment, America's consumers stepped up their spending by a solid 2.4% in January… https://t.co/oEPXHEykjY AP (from Global) Fri Feb 26 14:03:33 +0000 2021
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