What You Need to Know About the Next Round of Stimulus Checks
Have questions about the second round of stimulus checks? Here’s what to know about eligibility, payment amounts, timing, dependents, taxes, and more.
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What’s Section 230 and What Does It Have to Do With Stimulus Checks?
I’ve been asked a lot recently about Section 230, a phrase that’s been tossed around a lot with respect to stimulus checks. Section 230 isn’t a tax provision (in fact, there isn’t even a section 230 in the Tax Code). It’s actually a telecommunications law. And I’m not a tech or intellectual property lawyer: my…
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IRS Answers Some Of Your Stimulus Check Questions
The Internal Revenue Service (IRS) is emphasizing that no action is required by eligible taxpayers for the second round of Economic Impact Payments (EIPs, or stimulus checks). As noted earlier, initial direct deposit payments began arriving as early as last night for some and will continue into next week. Paper checks will begin to be mailed on…
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Treasury Says 2nd Round Of Stimulus Checks Heading Out Soon
Congress may still be debating the size of additional checks, but Treasury is already taking action to deliver a second round of Economic Impact Payments (EIPs, or stimulus checks). This second round of checks is part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, passed by Congress last week and signed into…
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President Trump Signs Stimulus Package/Spending Bill Into Law
Earlier this week, the President suggested that he might not sign the stimulus package/spending bill (you can read about what happened – and what it meant – here). However, tonight, the President did sign the bill into law. The bill would do a few things, including: Issue stimulus checks of $600 per person; Extend unemployment…
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Year-End Taxes: What You Need To Be Thinking About At The End Of 2020
2020 is nearly done. Whether you’re an individual concerned about how a new president and recovering economy will impact you, or you need to find some last-minute tax deductions, there’s plenty to be thinking about as the new year ticks over. Preparing for end-of-year taxes, estate planning, and maximizing tax deductions On this week’s episode,…
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Here’s What You Need To Know About The 2nd Round Of Stimulus Checks
(Author’s Note: The bill passed in the House and Senate on December 21, 2020, after this piece originally appeared.) Congress has finally agreed on a COVID relief package. It is the first significant stimulus action from Congress since the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act was signed into law in…
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Don’t Forget About The New Tax Break That Allows More People To Deduct Donations In 2020
The Internal Revenue Service (IRS) is reminding taxpayers about a temporary tax break that will allow more people to deduct up to $300 in donations to qualifying charities this year. Taxpayers who make cash donations of up to $300 before December 31, 2020, are now eligible for a charitable deduction when they file in 2021…
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IRS Issues Final 1031 Like-Kind Regs
The Internal Revenue Service (IRS) has issued final regulations relating to section 1031 like-kind exchanges. 1031 Like-Kind Requirements We call them 1031 like-kind exchanges because the rules are found at section 1031 of the Tax Code (clever, I know). The provision allows you to defer tax on gain if – and it’s a big if…
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Organizing Tips To Keep Your Life, Business, And Tax Information In Better Shape
The difference between being organized or not can be thousands of dollars when it comes to your taxes and finances. This week on the Taxgirl podcast, Kelly talks to Karen R. Caccavo about organizing tips for your tax information and financials throughout the year so they’re ready to go when you actually need them. Whether…
