It was the latest twist in a nearly-decade long investigation of a wave of hundreds of fraudulent tax returns the IRS traced to Hall, whose business cards once proclaimed him
By Dave Basner
Ever since President
Biden signed the American Rescue Plan Act into law in March, there have been plenty of headlines about what the bill offers. The big news for many was that it included a third stimulus check, but there is much more in the relief package. It also allows eligible parents to receive monthly checks to help them with costs associated to having kids. Additionally, it provides financial aid to those struggling to pay their mortgages. But there is another way the Rescue Plan Act might send you money, and a lot of it.
Inside the bill is a tax refund that specifically excludes $10,200 in 2020 unemployment compensation from being taxable as a way to give those who struggled financially a break on their taxes. Due to effects of the pandemic on businesses across the country, millions of Americans were on unemployment last year, and many of them likely filed their taxes based on the entire amount of unemployment compensation they received, especially if th
By Dave Basner
Ever since President
Biden signed the American Rescue Plan Act into law in March, there have been plenty of headlines about what the bill offers. The big news for many was that it included a third stimulus check, but there is much more in the relief package. It also allows eligible parents to receive monthly checks to help them with costs associated to having kids. Additionally, it provides financial aid to those struggling to pay their mortgages. But there is another way the Rescue Plan Act might send you money, and a lot of it.
Inside the bill is a tax refund that specifically excludes $10,200 in 2020 unemployment compensation from being taxable as a way to give those who struggled financially a break on their taxes. Due to effects of the pandemic on businesses across the country, millions of Americans were on unemployment last year, and many of them likely filed their taxes based on the entire amount of unemployment compensation they received, especially if th
By Dave Basner
Ever since President
Biden signed the American Rescue Plan Act into law in March, there have been plenty of headlines about what the bill offers. The big news for many was that it included a third stimulus check, but there is much more in the relief package. It also allows eligible parents to receive monthly checks to help them with costs associated to having kids. Additionally, it provides financial aid to those struggling to pay their mortgages. But there is another way the Rescue Plan Act might send you money, and a lot of it.
Inside the bill is a tax refund that specifically excludes $10,200 in 2020 unemployment compensation from being taxable as a way to give those who struggled financially a break on their taxes. Due to effects of the pandemic on businesses across the country, millions of Americans were on unemployment last year, and many of them likely filed their taxes based on the entire amount of unemployment compensation they received, especially if th