Page 49 - Mark Steber News Today

IRS may automatically refund taxes for unemployment benefits. Everything to know Some who receive unemployment could expect a second refund check in May. Here are the details so far. Listen - 02:08 Unemployed workers could get more money from the IRS.  Sarah Tew/CNET A $10,200 tax exemption was added into the details of the American Rescue Plan for those who received unemployment benefits in 2020. Al...

IRS could automatically refund taxes for unemployment benefits. What to know Some unemployed workers could receive a second refund check in May. Here are the details so far. Listen - 02:09 Unemployed workers could get more money from the IRS.  Sarah Tew/CNET The agency made an update Wednesday regarding the unemployment benefits tax exemption in Bidens Rescue Plan, saying it will recalculate taxes for ...

It is tax time. 2020 changed life for all of us, that includes your taxes.

SHOW TRANSCRIPT Small businesses have been struggling to survive the COVID-19 pandemic, with many closing their doors for good, despite relief funding from the government.  I’m not an expert, but we talked to lots of them, and asked: can small businesses deduct expenses that were paid with PPP money?  "The answer to this one is actually exciting, and yes," said Misty Erickson, Tax Research Manager at the National Association of Tax Professionals. If you’re a small business owner, you can ...

By Reid Wilson - 02/22/21 12:37 PM EST   The Kansas Department of Labor sent letters late last year to Laura Kelly about the unemployment benefits she had claimed. The only problems were that Kelly had not filed a claim, and that she is employed — as the state’s governor. A tsunami of fraudulent unemployment claims sweeping the nation has cost states and the federal government tens of billions of dollars in payments, many to overseas crime syndicates and nefarious hackers who have gain...

Pay a professional or tackle your return solo -- whats the right call?

The tax-filing season is now underway after a delayed start, and it’s expected to bring challenges and confusion as taxpayers and the IRS navigate pandemic-related issues, including some pertaining to stimulus checks.

Pay a professional or tackle your return solo -- what's the right call?

February 8, 2021 Workers who didnt withhold taxes from their unemployment benefits could have a bigger tax bill than they would normally. SHOW TRANSCRIPT In 2020, the U.S. saw widespread joblessness and business closures — making tax prep this year a bit complicated.  I’m not an expert, but we spoke with a lot of them, and asked: Will unemployment benefits be taxed?  "The simple answer is yes," said Mark Steber, chief tax information officer at Jackson Hewitt. However, this only applies ...

College students may be able to collect up to $1,800 in stimulus payments, here’s how Bankrate 2/4/2021 © NDAB Creativity / Shutterstock Student works in college library When it comes to stimulus checks, no one might feel like theyve slipped through the cracks more than college students. Not really on their own, yet not entirely under their familys financial purview, many are still claimed on their parent or guardians taxes as an "adult dependent." But its to their own detriment: That cl...