Up until recently, an old-fashioned certificate of deposit was a reliable way to lock in a decent return. Now, some CD rates are hitting all-time lows and could still fall further, according to Ken Tumin, founder of DepositAccounts.com. “Since March, rates have taken a nosedive,” he said. “I’m not sure where they will bottom.” In the wake of
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MoMo Productions The secret to building sustainable income in retirement is right in front of you — and the IRS has had it all along. Retirees generally know all about required minimum distributions. This is the annual withdrawal that you must take from your individual retirement account and 401(k) plans after you turn 70½ —
A tray of checks is shown at the U.S. Treasury printing facility in Philadelphia in this July 18, 2011 photo. Getty Images The federal government has sent stimulus checks of up to $1,200 to millions of Americans — including deceased individuals. A new report from the Government Accountability Office finds that about 1.1 million payments, totaling
Hispanolistic Forget high-interest savings accounts. The IRS is crediting up to 5% interest on late tax refunds. The government agency announced it would grant interest on tax refunds that are issued after April 15 – the original due date for 2019 federal income tax returns. Bear in mind that the IRS has pushed out the
Sen. Marco Rubio, R-Fla. Michael Brochstein | SOPA Images | LightRocket | Getty Images The coronavirus stimulus checks have provided a financial boost to millions of Americans — except for those who filed tax returns with non-citizen spouses. A bill introduced on Thursday by Sens. Marco Rubio, R-Fla., and Thom Tillis, R-N.C., is seeking to
James Blake Wiener, an American living in Zurich, is still waiting to receive his coronavirus stimulus check. James Blake Wiener Millions of Americans are waiting for their stimulus checks. James Blake Wiener, 34, who lives in Zurich, is one of them. He’s not alone. Many U.S. expatriates who live in other countries still have not
Steven Mnuchin, U.S. Treasury secretary, speaks during a Senate Small Business and Entrepreneurship Committee hearing in Washington, D.C., U.S., on Wednesday, June 10, 2020. Al Drago | Bloomberg | Getty Images This tax season may look more like a tax year, as Treasury Secretary Steven Mnuchin weighs delaying the July 15 deadline once again. “As
Hundreds of unemployed workers wait in long lines outside the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. John Sommers II | Getty Images More than 1 million Americans have started dipping into an unemployment fund meant for extended periods of joblessness. Research suggests these individuals
In the wake of the coronavirus crisis, some things may never be the same. A liberal arts education could be one of them. As colleges and universities across the country face extreme financial distress, some institutions are cutting the academic programs that were once central to a well-rounded education. In early June, the University of
If you took a required minimum distribution from your retirement account this year and want to reverse it, you now may be able to. The IRS said Tuesday that anyone who already has taken an RMD in 2020 from certain retirement accounts has until Aug. 31 to put the money back. The announcement comes several