IRS provides tax relief for victims of September wildfires in California; Oct. 15 deadline, other dates extended to Jan. 15
WASHINGTON — Victims of the California wildfires that began on Sept. 4 now have until Jan. 15, 2021, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS is offering this relief to any area designated by the Federal Emergency…
10 ways FSA/HSA funds can help you cope with COVID-19
Life is stressful in the best of times. We definitely are not in the best of times. We're dealing with a contentious presidential election during a deadly pandemic. Plus, flu season is almost here. Mother Nature keeps whacking us with disasters. Kids are going back to school or not, both…
6 tax moves to make this October
Hello, October! You're always welcome at my house. I love your cooler temperatures that let me open windows and doors and put an end to exorbitant air conditioning costs. I love the color changes of trees and shrubs. And I love the candy that I accidentally (really!) over-buy in preparation…
How to Maximize Your Tax Return for a Bigger Refund
1. Don’t Leave Money on the Table If you forget to use all of your Flexible Spending Account (FSA) dollars or don’t make contributions to your individual retirement and 529 accounts, you could leave money on the table. You have until December 31 to use money in your FSA or…
1 million+ Californians top list of missed COVID payments
If you're hoping for a second COVID-19 stimulus check, it's looking like you're going to have to wait until after the November election for Congress to act. However, there is better financial pandemic payment news for millions of folks who didn't get the first coronavirus economic impact payment (EIP). Non-filers left out…
State revenue loss due to COVID-19 not as bad as feared
Most states wrapped up their 2020 fiscal year (FY) on June 30. As you might expect, those annual financial numbers were affected by the COVID-19 pandemic. What is surprising, however, is that states' revenue situations weren't as bad as many had feared given the tax issues created by the coronavirus. Fourth-quarter drag: Jared…
Oregon fire victims’ tax deadlines pushed to Jan. 15, 2021
Tax season 2020 has been extended for some taxpayers. Unfortunately, the extra time to take care of tax tasks is because these individuals and businesses were threatened are dealing with the outbreak of wildfires in Oregon. The Internal Revenue Service announced that victims of the Oregon wildfires and straight-line winds that began…
Dec. 31 is new tax deadline for Louisiana taxpayers hit by Hurricane Laura
Louisiana residents hard hit by major Hurricane Laura's landfall in that state last month now are getting some tax relief. The Internal Revenue Service has announced that residents in 16 parishes now have until Dec. 31, 2020, to file various individual and business tax returns and make tax payments. The…
529 plans, other tax breaks help cover education expenses, even during a pandemic
School is back in session. Sort of. In most places, both at the K-12 and college levels, students and their families are dealing with hybrid education modes. Some classes are meeting in person, albeit dramatically altered to meet COVID-19 safe distancing policies. The rest of the time, the students are learning online.…
The Tax Code And Economic Justice In America
Francine J. Lipman, a law professor at the University of Nevada, Las Vegas, talks with Darrick Hamilton, a stratification economist and the New School’s incoming Henry Cohen Professor of Economics and Urban Policy, about the intersection of U.S. tax policy and racial wealth inequality. This post has been edited for…
