As rents continue to steadily rise across the country, about a quarter of renters say affording their rent payments is difficult or very difficult. To make ends meet, two-thirds of those renters make at least one financial sacrifice to afford their home, and half wouldn’t be able to afford an unexpected $1,000 [...]
The Internal Revenue Service recently announced the tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2019-44 (PDF) provides details about these annual adjustments. The tax law change covered in the revenue procedure was added by the [...]
A new poll by Common Sense and SurveyMonkey says nearly eight in 10 teens (78%) report vaping is popular among their peers and a part of their daily experience, in real life, in schools, and on social media. One third (33%) say they see classmates vaping in school a few [...]
The Internal Revenue Service recently issued final regulations on the new information reporting requirements for certain life insurance contract transactions. New Requirments The requirement was authorized under new section 6050Y, added to the Internal Revenue Code by the Tax Cuts and Jobs Act (TCJA), the tax reform legislation enacted in [...]
Malls are not the only places for holiday shopping. According to one report, holiday shopping on Amazon will be the place to be this season. In fact, about 42% of online shoppers are expected to purchase all or most of their gifts via the popular marketplace this year, according to [...]
If you haven't done so yet, the Internal Revenue Service is urging tax return preparers to begin the upcoming 2020 filing season now by renewing their Preparer Tax Identification Numbers now. All current PTINs are set to expire on Dec. 31, 2019. “Last year we issued more than 813,000 PTIN’s [...]
Would you consider living in a haunted home or would you run as far away as possible once you knew it was haunted? Nearly 60 percent of people who have lived in a haunted house didn't know it was haunted before they moved in, according to the realtor.com, fourth annual [...]
During October the Internal Revenue Service wants to remind honored military families they may qualify for specific and important tax rules and benefits. October is often associated with National Work and Family Month which was established in 2003 by a Senate resolution. October was chosen to help communicate and celebrate [...]
While it may seem strange or premature to talk with your kids about finances, student debt, loans and the like, these are topics you will want to address at some point. But you're not alone when shying away from these types of discussions. A recent study reveals teaching financial education [...]
As part of a bigger effort to help taxpayers and to enforce the tax laws in a fast-moving area, the Internal Revenue Service recently issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency. Expanding on guidance from 2014, the IRS is issuing additional detailed [...]
