Tax

Residents of Cook County are facing a looming deadline as the extended period granted after last summer's severe flooding in the Chicago area is set to conclude.  The Internal Revenue Service (IRS) has formally announced that the new…

New York City's Probation Department is facing criticism and controversy after it was revealed that Probation Commissioner Juanita Holmes is now using a luxurious city-funded vehicle amid program cuts and budget constraints.  The…

In 2024, a significant shift in tax reporting is set to impact freelancers and individuals engaged in side hustles, particularly those relying on popular payment apps like PayPal, Venmo, Cash App, or Zelle.  The long-anticipated 1099-K…

Starting in 2024, approximately 700,000 families in Michigan are set to receive tax rebates of around $550 as part of an enhanced Earned Income Tax Credit initiative.  Governor Gretchen Whitmer revealed that the checks are expected to be…

A significant development in US tax policy is underway as a House panel recently approved the Tax Cuts for Working Families Act (H.R.3936).  The bill proposes a temporary expansion of the standard tax deduction, which could provide…

In a recent turn of events, Colorado's political landscape is witnessing a disconnect between voter sentiment and legislative action.  Despite the clear rejection of Proposition HH by a 60% to 40% margin on Election Day, the state House,…

In the era of social media, misinformation can spread like wildfire. Recently, a Facebook post circulated, asserting that millions of residents across 10 states are slated to receive a fourth IRS stimulus check on November 30.  The post…

Saving for retirement often collides with the need for accessible funds during unexpected financial emergencies. While contributing to a tax-advantaged retirement account comes with restrictions, an often-overlooked feature of the Roth IRA…