As tax season approaches, Americans stand to benefit from significant tax credits, with the potential of receiving between $1,600 and $2,000 per qualifying child. This Child Tax Credit, a dollar-for-dollar reduction in federal income tax liability, is a crucial financial boost for eligible families. Here’s what you need to know to ensure you make the … Read more
In a rare display of bipartisan cooperation, Congress is on the brink of passing a significant bill that could potentially lift half a million children out of poverty in Washington. The proposed legislation involves an expanded tax credit for parents of children aged 16 and younger, mirroring a plan that briefly passed during President Biden’s … Read more
In a recent update the Instagram Settlement Payout Date is at the forefront of the Parris v. Meta Platforms, Inc. class action lawsuit. This legal case involves claims of Meta Platforms, Inc., Instagram’s parent company, violating Illinois’ Biometric Information Privacy Act (BIPA) from August 10, 2015 to August 16, 2023. Users in Illinois during this … Read more
In the upcoming tax season, some Americans might find themselves facing an unexpected challenge – the possibility of being hit by “Double State Income Tax” due to a little-known rule affecting remote workers in five states: Connecticut, Delaware, Nebraska, New York, and Pennsylvania. Dodging the Double State Income Tax Bullet: How Remote Workers Can Navigate … Read more
Californian taxpayers are in for a potential windfall this tax season, with the chance to claim a substantial one-time “California Tax Rebate” of up to $12,076. However, eligibility hinges on meeting specific criteria related to three programs: the California Earned Income Tax Credit (CalEITC), the Young Child Tax Credit (YCTC), and the Federal Earned Income … Read more
In an unfortunate incident, Walgreens locations in Massachusetts have mistakenly charged tax on certain grocery items, prompting a call for customers to check their receipts for potential refunds. Groceries are generally exempt from taxation in the Bay State, with only specific baked goods falling under taxable categories. Consumer advocate Edgar Dworsky brought attention to the … Read more
As we gear up for the 2024 tax season, the Internal Revenue Service (IRS) will commence accepting and processing federal income tax returns on Monday. Filing your taxes might not be the most exciting task, but it’s an essential one to avoid potential penalties. Guided Tax Software’s Free Online Filing for Incomes Under $79,000! Guided … Read more
A program called The Bridge Project in New York is providing expectant mothers with a chance to apply for monthly payments of $750. Launched in June 2021, this guaranteed income initiative offers low-income mothers recurring payments over 15 months during pregnancy. The program, designed to be a temporary aid, initially provided 100 participants with $500 … Read more
Based on the recent report published by Marca, President Joe Biden’s groundbreaking 2024 student loan forgiveness program, the first round of debt relief is set to roll out this February for eligible federal student loan borrowers. The initiative extends to those on the valuable education repayment plan who borrowed $12,000 or less and diligently made … Read more
Navigating the educational financial landscape just got a makeover with the Free Application for Federal Student Aid—FAFSA 2024, Marca reports. Significant alterations to the process and criteria are reshaping the aid application experience for students and their families. FAFSA 2024 Timeline and Questionnaire Transformation Breaking from tradition, the FAFSA for the 2023-2024 academic year became … Read more