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Taxing unemployment and PPP loans would set Rhode Island apart from almost every other state

Taxing unemployment and PPP loans would set Rhode Island apart from almost every other state Brian Amaral © Steven Senne Rhode Island Democratic Gov. Dan McKee speaks to an audience during his inaugural address on March 7. PROVIDENCE Rhode Island could be one of only a handful of states to tax both forgiven Paycheck Protection Program loans as well as full unemployment benefits. Taken together, the two items represent $100 million in revenue for the state, Governor Dan McKee has said. And if lawmakers wanted to make changes, they’d have to figure out some other way to make the numbers work in the budget, McKee said.

Stimulus checks: Can I get a payment for a spouse, relative who died?

Here’s what you need to know:  Does someone who died qualify for the payment? In some cases, yes. If you’re preparing a return for a deceased relative, some individuals who passed away in 2020 or 2021 may qualify for the Recovery Rebate Credit if they didn’t receive a payment but were eligible. You must be a U.S. citizen or U.S. resident alien, weren t claimed as a dependent of another taxpayer and have a Social Security number valid for employment.  As long as the person died in 2020, didn’t receive a stimulus check but was eligible based on their 2020 income when their return is filed, then the person can claim the Recovery Rebate Credit on the return, according to Greene-Lewis.

How long should you keep IRS tax records?

How long should you keep IRS tax records? Bankrate 12/18/2020 © Chip Somodevilla / Staff/Getty Images The IRS headquarters Once you ve completed all the hard work of filing your taxes, you might want to immediately forget all the numbers, forms and receipts you had to comb through to satisfy the government. However, when you finish filing your taxes, you still have one more important step to check off your list: Put all your documents somewhere safe. Stay organized As you re working on your taxes, it s crucial to remember that you may need to access them again in the event of an audit by the IRS. With that in mind, a shoebox with loads of papers or files scattered throughout your hard drive is not a good move. Instead, start a filing system that organizes all your records by year and by category, such as bank statements, income forms and receipts. Throughout the year, make sure you re maintaining that system so that everything makes sense when you file - and if the IRS re

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