How to collect a life insurance payout when a loved one dies
Collecting a life insurance payout after a loved one dies is a fairly straightforward process.
Start by gathering your loved one s life insurance documents, preferably before their death.
Next, notify the insurer and carefully fill out and submit your claims documents.
Losing a family member can be really hard. Late last year, my father died from prostate cancer, leaving a big hole in our hearts. But he did one very good thing for my mom decades before finding out he had cancer. He signed up for three life insurance policies that added up to a significant payout.
How much does it cost to file your taxes with TaxAct?
Tax prep companies frequently offer discounts on products early in the season. The prices listed in this article do not include any discounts. You can check the company s website to see current offers.
You can pay as little as $0 or as much as $204.90 to file your taxes with TaxAct. Prices vary based on how complicated your tax situation is and what types of income streams and deductions you ll need to include. In other words, the more streams of income you have and/or the more deductions or credits you qualify for, the more expensive it will be to prepare your return.
Simple bank announced in January that it would be shutting down.
If you re a current customer and want to close your account, you can do so online or by phone.
If you choose to do nothing, your Simple account will become a BBVA USA account in 2021.
Simple bank announced recently that it will be closing its doors in 2021. If you re a current customer wondering what that means for your money, there are a few things you should know.
Simple is shutting down because its parent company, BBVA USA, is being acquired by PNC Bank. By spring 2021, all Simple bank accounts will become BBVA accounts, then PNC accounts. So as a customer, the first thing you can do is absolutely nothing; Simple has been clear that if you leave your money where it is, your bank account will transition over to BBVA USA this year, and the intention is that customers shouldn t be impacted too greatly.
What is an audit?
There s one main goal of an audit: to make sure that someone has paid the right amount of federal income taxes, and that income and deductions are reported correctly.
In some cases, an audit could result in someone paying more in taxes. In 2019, the IRS reported that audits resulted in $17.3 billion worth of additional taxes paid.
How far back can the IRS audit?
The IRS can only conduct tax audits on fairly recent tax returns. Generally, audits only happen for the last three tax years. However, audits can go back as far as six years in special circumstances.
In March 2020, the maximum payment for individuals was $1,200 and $500 for each child under age 17. The maximum amount of the second check was $600 per adult taxpayer and $600 for each child under age 17. The maximum amount of the third stimulus check is currently set at $1,400 per adult taxpayer, plus $1,400 per dependent.
The American Rescue Plan is currently with the House of Representatives, which could make changes to the bill, and will need House signoff before heading to President Biden for a signature.
Single taxpayers whose AGI in 2019 or 2020 was $75,000 or less are expected to receive the full stimulus payment. Those earning between $75,001 and $80,000 would receive a reduced amount. Married joint filers earning up to $150,000 would be eligible for the full payment, and those earning between $150,001 and $160,000 would qualify for a reduced payment.