money

IRS to send 1.5 million additional tax refunds over unemployment benefits

The Internal Revenue Service (IRS) will issue an additional 1.5 million tax refunds this week - more than $ 1,600 on average - to applicants who overpaid tax on their 2020 unemployment benefit.
Direct deposit refunds begin on July 28th and paper check refunds begin on July 30th.
This is the fourt...

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Biden’s order could make it easier for Americans to borrow

An important part of President Joe Biden's executive order this month could ultimately make it easier for Americans to qualify for loans on more favorable terms.
The ordinance - which includes major technology, healthcare and labor reforms - also instructs the Consumer Financial Protection Bureau...

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Stimulus checks: IRS sends 2.2 million more payments in latest round

The Internal Revenue Service has sent out more than 2.2 million stimulus checks in the past six weeks, according to the Treasury Department as the agency continues distributing the last remaining payments through the summer.
The IRS has now made more than 171 million payments totaling approximate...

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Democrats and Republicans agree on one thing: Retirement security is in jeopardy

According to a new poll, there is little polarization between Democrats and Republicans when it comes to their views on pensions.
More than 4 in 5 American voters, regardless of party affiliation, believe retirement security is an issue for the country, according to a recent poll of 1,000 US regi...

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Expert: It's 'a little scary' for retirees to spend their savings

After decades of saving, retirees are often reluctant to draw from their nest egg in their golden years, according to a pension expert.
"[The] reality is that many of us are used to spending less than our income during our working years and then retiring, and it feels a little strange spending ou...

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Expert: Here are the best states for retirement this year

Florida has been stripped of its designation as the country's premier retirement wonderland, new analysis found, and replaced by its northern neighbor - Georgia.
"It's been a pretty close race," Bankrate analyst Jeff Ostrowski recently told Yahoo Finance Live to discuss the results. "Florida and ...

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Biden's latest executive order empowers workers in 3 key ways

President Joe Biden is expected to sign an executive order to promote economic competition on Friday, which contains three provisions designed to improve opportunities for workers.
The President's order calls on the Federal Trade Commission to restrict or prohibit non-compete agreements, address ...

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Families can now update direct deposit information for Child Tax Credit payments

Families can now provide or update their direct deposit information for monthly child tax credit (CTC) payments through the updated Internal Revenue Service online portal.
"The IRS urges every family who receives checks to consider switching to direct deposit," the agency said in a press release ...

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More jobless workers sue their states for ending unemployment benefits early

Workers in Indiana, Texas and Maryland have filed lawsuits against their respective states for prematurely cutting unemployment benefits in the pandemic era, a growing movement that one expert said could thrive in some states.
Indiana was the first state where workers filed lawsuits. On Friday, M...

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Coinbase complaints jump as bitcoin and crypto interest soars, study finds

As bitcoin and other digital coins grow in popularity, the number of complaints with the largest cryptocurrency exchange in the United States is also increasing, according to a new study.
According to a study by the U.S. Public Interest Research Group, Coinbase was the most criticized digital cry...

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Retirement confidence is resilient among those unaffected by COVID-19, expert says

Despite the uncertainty caused by the pandemic, one expert said confidence is actually rising in retirement - but only for those whose jobs have not been interrupted by the coronavirus pandemic.
Among those who lost their jobs during the pandemic, there is "an entirely different level of confiden...

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Court orders Indiana to reinstate pandemic-era federal unemployment benefits

An Indiana court is temporarily blocking Governor Eric Holcomb's order to end federal unemployment benefits pending a final decision on a case of unemployed in the state.
"Indiana should immediately notify the US Department of Labor of its continued participation in the CARES Act programs pending...

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Why you may want to opt out of the monthly Child Tax Credit payments

Families will receive the monthly child tax credit (CTC) prepayments next month, but some parents may want to forego it.
Those who owe money to the Internal Revenue Service, have increased their incomes significantly this year, or recently filed for divorce should consider opting out of monthly p...

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Retirement: How the pandemic hurt many American nest eggs

The widespread financial burden from the pandemic forced some Americans to cut their retirement plans and long-term investments, a new poll found.
Some tampered with their retirement accounts or reduced their savings while others paid off stock investments, a move many later regretted, according ...

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IRS unveils tool to opt out of monthly Child Tax Credit payments

Families can now opt out of monthly child tax returns (CTC) payments through an online tool on the Internal Revenue Service's website, just over three weeks before the agency sends out the first payments.
Americans can also check their eligibility using an additional tool that the IRS introduced ...

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Rents hit all-time high as increases accelerate into summer

Rents hit records across the country as the burden of the pandemic subsides, according to two separate reports.
The national median rent rose 5.5% to $ 1,527 in May, the highest on Realtor.com records and the fastest growth rate since March 2020, before the pandemic began. At the same time, accor...

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Indiana sued over the cancellation of federal unemployment programs

Two Indiana legal organizations are suing the state over the governor's decision to get out of state-funded pandemic unemployment programs.
Indiana Legal Services (ILS) and law firm MaceySwanson Hicks & Sauer have filed a joint lawsuit against the state alleging that stopping the service would "c...

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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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