Unemployment claims in California are 69.84% lower than last year

Many states are struggling to recover from new unemployment claims, but California more than others. With early October's claims higher than at the start of 2020, according to WalletHub’s recent state rankings have changed for the States Whose Unemployment Claims Are Recovering the Quickest Here are some of the key [...]

By |2021-10-07T09:48:46-08:00October 7th, 2021|Finance|Comments Off on Unemployment claims in California are 69.84% lower than last year

Drought-stricken farmers, ranchers have time to replace livestock

Farmers and ranchers who were forced to sell livestock due to drought may have an additional year to replace the livestock and defer tax on any gains from the forced sales, according to the Internal Revenue Service. To qualify for relief, farmers or ranchers must have sold livestock on account [...]

By |2021-10-02T13:55:14-08:00October 5th, 2021|Finance|Comments Off on Drought-stricken farmers, ranchers have time to replace livestock

Cities where unemployment rates are having the best recovery

The economy gained 235,000 jobs in August, and the national unemployment rate is now 5.2%, which is 65% below the peak of 14.8% during the height of the COVID-19 pandemic. To provide more context at the city level, a recently released report on the Cities Whose Unemployment Rates Are Bouncing [...]

By |2021-09-29T10:28:50-08:00September 30th, 2021|Finance|Comments Off on Cities where unemployment rates are having the best recovery

New contracts given to collection agencies; taxpayers may be contacted

The Internal Revenue Service has awarded new contracts to three private-sector collection agencies for the collection of overdue tax debts. Beginning Thursday, Sept. 23, 2021, taxpayers with unpaid tax bills may be contacted by one of the following three agencies: CBE Group, Inc. PO Box 2217 Waterloo, IA 50704 800-910-5837 [...]

By |2021-09-25T10:33:14-08:00September 28th, 2021|Finance|Comments Off on New contracts given to collection agencies; taxpayers may be contacted

Deadline for third quarter estimated tax payments is Sept. 15

The Internal Revenue Service reminds people that Sept. 15, 2021, is the deadline for the third quarter of estimated tax payments. This generally applies to people who are self-employed and some investors, retirees, and those who may not normally have taxes withheld from their paycheck by their employers. The U.S. [...]

By |2021-09-11T10:26:23-08:00September 14th, 2021|Finance|Comments Off on Deadline for third quarter estimated tax payments is Sept. 15

September is National Preparedness Month; taxpayers should prepare

Did you know September is National Preparedness Month? With the height of hurricane season here and the ongoing threat of wildfires in some parts of the country, the Internal Revenue Service reminds everyone to develop an emergency preparedness plan. All taxpayers, from individuals to organizations and businesses, should take time [...]

By |2021-09-03T16:33:24-08:00September 7th, 2021|Finance|Comments Off on September is National Preparedness Month; taxpayers should prepare

Interest rates remain the same for the fourth quarter 2021

The Internal Revenue Service reports interest rates will remain the same for the calendar quarter beginning Oct. 1, 2021. The rates will be: 3% for overpayments (2% in the case of a corporation); 0.5 % for the portion of a corporate overpayment exceeding $10,000; 3% percent for underpayments; and 5% [...]

By |2021-08-28T10:17:21-08:00August 31st, 2021|Finance|Comments Off on Interest rates remain the same for the fourth quarter 2021

Retirement and taxes: Understanding IRAs

Individual Retirement Arrangements, or IRAs, provide tax incentives for people to make investments that can provide financial security for their retirement. These accounts can be set up with a bank or other financial institution, a life insurance company, mutual fund, or stockbroker, according to a news release. Here's a basic [...]

By |2021-08-21T13:55:07-08:00August 24th, 2021|Finance|Comments Off on Retirement and taxes: Understanding IRAs

Relief for certain employers claiming the ‘Work Opportunity Tax Credit’

There's good news for some as well as relief as the Internal Revenue Service is providing transition relief to certain employers claiming the Work Opportunity Tax Credit. The WOTC is a federal income tax credit available to employers that hire certified members of certain groups specified in the Internal Revenue [...]

By |2021-08-13T14:42:21-08:00August 17th, 2021|Finance|Comments Off on Relief for certain employers claiming the ‘Work Opportunity Tax Credit’

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