Personal finance

U.S. President Donald Trump’s name appears on the coronavirus economic assistance checks that were sent to citizens across the country April 29, 2020 in Washington, DC. Chip Somodevilla | Getty Images News that the U.S. government has deployed millions of stimulus checks for up to $1,200 per individual has made headlines. But still many individuals

Under ordinary circumstances, the opportunity to make changes to workplace health plans and flexible spending accounts happens only once a year. However, new guidelines from the IRS allow workers to revisit those elections now in response to the coronavirus pandemic. “I cannot think of a time when the IRS has been this flexible,” said David Speier, managing

Car line up at a drive-thru Three Square Food Bank emergency food distribution site at Boulder Station Hotel & Casino in response to an increase in demand amid the coronavirus pandemic on April 29, 2020 in Las Vegas, Nevada. Three Square is currently operating dozens of emergency distribution sites at various times and dates throughout

A store in Arlington, Virginia, remained temporarily closed on May 14, 2020. Another 3 million people filed initial unemployment claims last week on a seasonally adjusted basis, according to the Department of Labor. Olvier Douliery-AFP/Getty Images States paid a record $48 billion in unemployment benefits last month as the coronavirus pandemic caused millions of Americans

shot of 401k paper Kameleon007 Save more now  If you’re not currently saving enough to get the entire company match, you may want to start doing so, said Arielle O’Shea, investing and retirement specialist at NerdWallet.  “Take advantage of that match while you have it,” O’Shea said.  If you’re already meeting the match, there’s not much

It’s hard to imagine being paid to borrow money or penalized for saving. But the economic shock from Covid-19 may call for drastic measures. Up until this point, the Federal Reserve has never brought its benchmark rate into negative territory and, according to Federal Reserve Chairman Jerome Powell, the Fed is not considering going to negative interest rates now.  “The

A view of new York State Department of labor office in Flushing Queens during coronavirus pandemic on April 12, 2020. (Photo by John Nacion/NurPhoto via Getty Images) NurPhoto Democrats want to give Americans larger unemployment checks until next year. Certain workers — particularly those in lower-paying industries like accommodation and food services — stand to benefit

Borut Trdina | Getty Images Whether, how and where Americans start traveling again after the Covid-19 pandemic remains literally up in the air. However,  some industry experts are seeing signs that at least some travelers — in particular, wealthier ones — expect to start going on vacation again during the year-end holiday season. And the

In the massive legislative package House Democrats unveiled on Tuesday to inject more relief into an economy battered by the coronavirus, unemployed Americans would get an extra $600 a week through the end of the year. In the stimulus bill Congress passed in March, many jobless Americans became eligible for that weekly payment on top

U.S. Representative, Nancy Pelosi (D-CA) at the ceremonial swearing in of Representative Elect Kweisi Mfume (D-MD). Michael Brochstein | Barcroft Media | Getty Images Fewer people itemizing Since the new tax law, significantly fewer people are claiming the SALT deduction. About 16 million taxpayers claimed the SALT deduction for the 2018 tax year, according to

Richard Cordray, former director of the Consumer Financial Protection Bureau and author of “Watchdog: How Protecting Consumers Can Save Our Families, Our Economy, and Our Democracy” Congress provided borrowers a lifeline when it passed the CARES Act. Whether it will deliver significant relief to consumers remains to be seen. The $2.2 trillion coronavirus relief bill

US Treasury Refund Check Thomas Winz Millions of Americans have received their federal stimulus checks in the past four weeks. The IRS has updated its data on just how much emergency relief has been sent. And it shows which states received the most money. Congress gave the green light through the Cares Act for the

U.S. President Donald Trump speaks during a meeting with Republican members of Congress in the State Dining Room at the White House in Washington, U.S., May 8, 2020. Tom Brenner | Reuters President Donald Trump is reportedly considering another way to get more money to struggling Americans by letting them take an advance on their

AleksandarNakic Child care in the U.S. is becoming an almost indelible problem. Even before the pandemic, families struggled to find affordable child care. Now they scramble to find any care at all. “One of the most challenging aspects for parents these last few months was how quickly schools and daycare centers closed and therefore, how

Robert Kneschke / EyeEm The coronavirus has devastated economies around the world and disrupted life in ways that were unimaginable just a few months ago. The world will never be the same. But at some point, industries will start coming back online and people will start going out again. We asked travel industry experts for

The number of people looking for work is at historic levels. At the same time, because of shelter-in-place restrictions due to Covid-19, the rules around job hunting have changed. For those who have been laid off, furloughed or edged out of positions amid the coronavirus pandemic, landing a new job will be challenging, yet there are

A month-long battle with the coronavirus made it difficult for Esteban Giron and his husband to pay their $990 rent. ”I was so sick I could barely walk to the bathroom,” Giron, 41, said. He’s lived in his apartment in Crown Heights, Brooklyn, for over seven years, and if he had to move out, it would be

People walk along Broadway as the coronavirus keeps financial markets and businesses mostly closed on May 08, 2020 in New York City. The Bureau of Labor Statistics announced on Friday that the US economy lost 20.5 million jobs in April. This is the largest decline in jobs since the government began tracking the data in

Chip Somodevilla | Getty Images The IRS has a clear message for families of the deceased who receive stimulus checks: Give the money back. But what about those who recently died because of Covid-19? At least 75,852 U.S. deaths have been caused by the novel coronavirus, according to the latest data from Johns Hopkins University.

There’s no better time to think about next year’s taxes than right after you file this year. Jayme Thornton | Tooga Productions | Getty Images There’s still time to submit your bank account information to the IRS to get your $1,200 stimulus payment more quickly. But that window is closing, the IRS said on Friday.