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IRS opens online tool to register for the monthly Child Tax Credit payments

Non-filing families can now register for monthly child tax returns (CTC) payments through the Internal Revenue Service's online portal.
"Our goal at the Treasury is to make sure that every American gets the aid they need as easily as possible," Treasury Secretary Janet Yellen said in a statement ...

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Pandemic led to early retirement for many Americans — some voluntary, some not

It took a global health crisis to convince one of Gretchen Behnke's clients that she could retire early at 51, a move the woman finally took in February convinced her finances were good enough to last her golden years to be able to begin.
"She had been considering early retirement for about three...

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'Extremely cruel move:' Jobless workers brace for early end to unemployment benefits in 25 states

On Saturday, the $ 380 weekly unemployment benefit that Robyn Gregorieff and her husband relied on for their basic needs will be cut by 79%, leaving the couple with just $ 80 a week to live on.
She would have been eligible for the higher amount through September had it not been for her home state...

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Workers have left $1.35 trillion behind in old 401(k) retirement accounts

According to new research, many Americans leave their 401 (k) retirement accounts with previous employers when they change jobs, potentially forgetting hundreds of thousands of dollars in savings to tap into in their golden years.
Workers forgot approximately $ 24.3 million 401 (k) accounts worth...

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IRS notifies 36 million families that may qualify for monthly Child Tax Credit payments

The Internal Revenue Service is mailing 36 million American families who may be eligible for monthly child tax credit (CTC) payments by July.
“The letters are going to families who are eligible based on information they provided on either their 2019 or 2020 income tax returns, or who used the Non...

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America has 'two completely different systems' when supporting unemployed workers

Half of states' move to end pandemic unemployment programs prematurely reflects a broader, enduring truism of the US unemployment system: How much aid unemployed Americans get depends largely on where they live.
Twenty-five Republican-run states plan to opt out of certain unemployment programs - ...

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States canceling extra unemployment benefits will cost local economies $12.3 billion

Half of the states that plan to cut the additional $ 300 in weekly unemployment benefits this month could cost their local economies $ 12.3 billion, according to a new study. The analysis comes a day after Maryland became the last GOP-led state to drop out of the unemployment program.
“There's li...

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Here are the companies requiring employees to get vaccinated

As vaccinations taper off in the summer, employers are considering different ways to encourage their workforce to get vaccinated against COVID-19.
According to a survey by Arizona State University with the support of the Rockefeller Foundation, nearly two-thirds of US employers plan to require em...

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Almost half of states will cancel pandemic unemployment programs — with Florida the latest to opt out

Florida is the youngest Republican-led state to roll out early from federal unemployment programs, bringing the total number of states to 23, leaving 4 million workers with little or no benefits over the next month.
"Florida employers are also seeing employment growth as more Floridians, includin...

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'He has to take his lumps': Behind a Rhode Island real estate deal involving 160,000 dogecoins

What could have been a low-risk Rhode Island property sale has turned into a wild bet on the price of meme-inspired cryptocurrency Dogecoin.
Earlier this month, real estate agent Kyle Seyboth accepted an offer of 160,000 Dogecoins (DOGE-USD) worth approximately USD 50,000 (or approximately USD 0....

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Retirement expert: Here's a 'neat thing you can do' if you take Social Security early

When it comes to getting social security benefits, do it when you need it, an expert recently shared with Yahoo Finance Live, even if it means getting benefits early.
There is an out when you decide you made a mistake.
"There's one nice thing you can do about Social Security and that is, you can ...

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'30 days to find a job:' Over 2 million workers face unemployment benefits cliff

More than 2 million workers could see their unemployment benefits cut or canceled entirely in the next month as more states oppose federal unemployment programs. Some of the hardest hit are unemployed black Americans.
"The states give them 30 days to find a job," Andrew Stettner, an unemployment ...

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Here are the worst summer destinations for car rental shortages

Pandemic-weary Americans planning their trips after vaccination may run into rental car shortages when visiting certain summer hotspots, according to a new analysis.
Hometown visitors to Disney World could encounter the biggest problems caused by a broken rental car network that is driving rental...

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'Do not fill plastic bags with gasoline:' Government warns drivers hoarding fuel

As industry experts and government officials ask drivers in the Southeast not to hoard gasoline, the US Consumer Product Safety Commission makes another plea: "Don't fill plastic bags with gasoline."
"We know this sounds easy, but when people are desperate, they stop thinking clearly," the commis...

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Calls to end pandemic unemployment benefits gain steam after disappointing jobs report

Calls for the pandemic-era unemployment benefit to be cut heightened this week as worries about a labor shortage grew and culminated in a crescendo on Friday following a hugely disappointing April job report.
South Carolina and Montana announced plans to end their unemployment programs in late Ju...

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Stimulus checks: IRS sends 1.1 million more payments in latest round

According to the Internal Revenue Service, nearly 1.1 million more stimulus checks were paid out in the last batch of payments this week, bringing the total number of payments in the third round to 164 million, including additional payments for previous stimulus checks.
So far, about $ 386 billio...

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Treasury Secretary Janet Yellen calls estimated $7 trillion tax gap 'shocking and distressing'

Treasury Secretary Janet Yellen urges the rich to pay their fair share of taxes and fill the tax gap by improving tax compliance and audits.
“It is really shocking and disturbing to see that estimates suggest that the gap between what taxes we collect on current taxes and what we should be collec...

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Only the ‘lucky few’ will pay higher taxes under Biden’s plan, analysis finds

President Joe Biden plans to generate revenue to fund his infrastructure plans through numerous tax increases that would hit the top 0.7% of Americans most of all, according to a new analysis.
"The vast majority of the population will not see any tax increases," Steve Wamhoff, director of federal...

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Rich Americans switch up money plans to soften Biden's proposed tax hikes

President Joe Biden's tax proposals threaten the preferential treatment wealthy Americans receive in terms of income, investment, and inheritance, causing the wealthy to adjust their finances before tax changes can take effect.
"People have been thinking about this ever since there was an opportu...

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Europe’s decision to allow vaccinated US tourists will ‘lead to a flurry of new bookings,’ expert says

The European Union is reversing its longstanding stance on American tourists and will welcome vaccinated U.S. passport holders this summer, the New York Times reported.
"[This] is going to see a spate of new bookings this week ... because people have a much greater sense of confidence that they c...

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Warren Buffett’s 2010 advice on cash reserves is more relevant than ever

Many Americans who have stuck to their jobs and cut spending over the past year are cashless.
The personal savings rate is at its highest level in decades, but when the economy reopens and vaccinations rise, many people might be tempted to do things they've avoided for 12 months: travel, food, co...

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Here's where you can shop with Bitcoin and other crypto

Venmo, the peer-to-peer personal payments app, announced Tuesday that it would expand its platform to include cryptocurrency.
The launch of Crypto on Venmo means that over 70 million users of the app can buy, hold and sell cryptocurrency directly in the Venmo app. This is evident from a press rel...

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IRS is holding over 29 million tax returns, delaying refunds for many poorer Americans

The Internal Revenue Service holds 29 million returns for manual processing - delaying refunds for many - due to legislative changes related to pandemics, processing errors, and fraud detection.
"As you would expect, the IRS staff are very thin in handling these tax returns manually," National Ta...

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Romney introduces legislation to tackle Social Security's funding shortfalls

Senator Mitt Romney (R-UT) leads a non-partisan coalition to promote social security among other federal trust programs that are in a funding crisis.
Jointly sponsored by six Democrats, nine Republicans, and one Independent in the Senate and House of Representatives, the United States Trusts Resc...

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Legislation would enable 50-year-old Americans to qualify for Medicare

A group of Democratic Senators reintroduced what became known as the Medicare at 50 Act, which would widen Medicare's access to Americans between the ages of 50 and 64.
"This legislation has the potential to cut people's costs and strengthen the existing Medicare program," Senator Debbie Stabenow...

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The IRS is on track to send $300 Child Tax Credit payments in July

According to IRS Commissioner Charles Rettig, the Internal Revenue Service is on track to send monthly child tax credit (CTC) prepayments starting in July. Payments are worth up to $ 300 per child.
The agency is also launching a portal where taxpayers can update their information by July 1st.
"We...

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Retirement expert details ‘3 things you got to do’

According to one expert, retirement planning can be demystified and distilled in three steps.
"There are essentially three things you need to do to prepare for retirement," Caroline Bruckner, executive director of the Kogod Tax Policy Center, recently told Yahoo Finance Live. “Number one, you nee...

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Stimulus checks: IRS sends 2 million more payments in latest round

Almost 2 million more stimulus checks were paid out this week as part of the fifth series of payments, bringing the total number of payments to 159 million, according to the Internal Revenue Service.
Total payments sent amount to $ 376 billion, roughly 84% of the $ 450 billion earmarked for stimu...

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IRS: $1.3 billion in tax refunds will go to Treasury if unclaimed by May 17

Over $ 1.3 billion in unclaimed tax refunds await more than 1.3 million Americans who failed to file their federal taxes in 2017, according to the Internal Revenue Service, but taxpayers have just over a month to file them close.
These taxpayers may miss an average of $ 865 on their 2017 refund. ...

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Stimulus checks: 25 million more payments sent in latest round, IRS says

According to the Internal Revenue Service, more than 25 million more stimulus checks were paid out as part of the fourth batch of payments this week, bringing the total number of payments to 156 million.
Total payments sent amount to $ 372 billion, roughly 83% of the $ 450 billion earmarked for s...

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