If you inherited an IRA (individual retirement account), the law says you must take distributions or pay a severe penalty to the U.S. Treasury. How severe? Fifty percent of the amount that should have been withdrawn, but wasn’t. These mandated withdrawals are called required minimum distributions or RMDs; in the case of inheritance, RMDs are
A photo illustration of the AstraZeneca COVID-19 vaccine at Copes pharmacy in Streatham on February 04, 2021 in London, England. Dan Kitwood | Getty Images Medical experts in the United States are trying to assuage fears that Covid-19 vaccines may be unsafe after several European countries suspended AstraZeneca‘s shot following reports of blood clots among
Pedestrians walk in front of a Williams-Sonoma Inc. store in San Francisco, California. David Paul Morris | Bloomberg | Getty Images Williams-Sonoma posted fourth-quarter earnings Wednesday that beat analysts’ expectations as consumers continued to shop for new products for their home during the coronavirus pandemic. The company’s stock rose about 10% in extended trading, as
Big Tech’s troubles may be in their early innings. Rich Bernstein, an Institutional Investor Hall of Famer, warns that the tech-heavy Nasdaq faces “way more” than a 10% drop in a downturn that will likely last years. He blames a backdrop dominated by rising interest rates as a major catalyst. “Everybody seems to know when
Elizabeth Holmes, founder and former CEO of Theranos, arrives for motion hearing on Monday, November 4, 2019, at the U.S. District Court House inside Robert F. Peckham Federal Building in San Jose, California. Yichuan Cao | NurPhoto | Getty Images Elizabeth Holmes on Wednesday got a six-week reprieve to the start of her trial, as
Plug Power GenDrive Fuel Cell with GenFuel hydrogen. Source: Plug Power Shares of Plug Power dropped more than 15% during premarket trading on Wednesday after the company said it will restate financial results following accounting errors. In a filing with the Securities and Exchange Commission on Tuesday evening, the fuel cell maker said it will
Allen J. Schaben | Los Angeles Times | Getty Images More than 2,200 organizations have written a letter to President Joe Biden urging him to extend the national eviction moratorium. The Centers for Disease Control and Prevention announced a ban on evicting struggling renters during the pandemic last September, and that protection is scheduled to
With the job losses and unemployment numbers this year, freelance work has replaced full-time staff positions for many people. This means that, with the gig economy already in full swing, we can expect to continue to see a robust freelance economy in the future. Since this is new territory for many, there are some new
As the spring sales season opens for business, the housing market in New York City is heating up, with townhouse units being among the most sought after by Manhattan buyers. The market for townhouses in New York City is the strongest it’s been since 2015, according to a new report from UrbanDigs, as homebuyers continue
The Employee Retention Credit program was enacted as part of the CARES Act on March 27, 2020, to provide reimbursement of wages for businesses affected by the COVID-19 virus and incentivize employers to maintain a pre-pandemic level workforce. The 2020 Employee Retention Credit was not available for PPP borrowers and required a loss in revenue
A Giant Eagle Inc. Market District supermarket stands in Pittsburgh, Pennsylvania, U.S., on Tuesday, Oct. 29, 2019. Allison Ferrand | Bloomberg | Getty Images At the start of 2020, Giant Eagle kicked off a company-wide mission to phase out all single-use plastic bags. The Pittsburgh-based grocery chain stopped offering thin, throwaway bags at the checkout
A woman shops for Lands End brand sweaters in Niles, Illinois. Tim Boyle | Getty Images Land’s End shares jumped nearly 7% in premarket trading Wednesday after the apparel and home-goods retailer reported fourth-quarter earnings and sales that topped analysts’ estimates. It also offered a better-than-expected outlook for the current quarter, and anticipates sales and
Robinhood hires Aparna Chennapragada as first chief product officer Robinhood has hired a top Google executive as its first chief product officer ahead of its upcoming public debut. The trading start-up said Wednesday it will bring on Aparna Chennapragada, who spent 12 years at Google leading product, engineering and design teams. She was most recently
To keep up with emerging technology, self-made billionaire Mark Cuban is always reading and learning new things. It’s a tactic he uses to understand artificial intelligence, and now he has set his sights on cryptocurrency and the technology that surrounds it, like blockchain and NFTs. In fact, Cuban recommends people use his tactic and take
The Federal Reserve building is pictured in Washington on Monday, March 8, 2021. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images The Federal Reserve on Wednesday dialed up its economic growth expectations but signaled that there are no expected interest rate hikes for the next two years. The so-called dot plot projections budged little
The Internal Revenue Services offices in Washington, D.C. Adam Jeffery | CNBC Taxpayers will have more time to get their taxes in order this year. The Internal Revenue Service is planning to push back the deadline for the tax filing season about one month to May 15 from April 15, CNBC’s Ylan Mui confirmed. This
Taxpayers and tax professionals have been scrambling to prepare and file tax returns by April 15. The IRS said repeatedly that unlike last year, it would not extend the date. But now, the normal April 15 deadline is extended to May 15. The American Institute of Certified Public Accountants and other groups have been asking,
We spend approximately one-third of our lives in bed, which means we are in our bedrooms more than any other room in the home. Yet, many people tend to overlook the design of these spaces. Still, it’s important for our sleep and overall health that our bedrooms give us a feeling of happiness and relaxation,
Customer Tamara Jenkins tries on a hat with Meeka Robinson Davis, owner of One-Of-A-Kind Hats, as Davis’ daughter Chrstiana Davis looks on, at the store in the Windsor Hills neighborhood of Los Angeles, California, November 24, 2020. Patrick T. Fallon | AFP | Getty Images Small businesses got some good news on Tuesday, when the
A general view of a ‘March Madness’ logo is seen during practice before the First Round of the NCAA Basketball Tournament at Vivint Smart Home Arena on March 20, 2019 in Salt Lake City, Utah. Patrick Smith | Getty Images CBS Sports president Sean McManus called it heartbreaking. WarnerMedia boss Jeff Zucker said he was