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Author: Susan Tompor, Detroit Free Press

Money

Unemployment $10,200 tax break: Single taxpayers who lost work in 2020 could see extra refund money soonest

May 14, 2021Susan Tompor, Detroit Free PressComments Off on Unemployment $10,200 tax break: Single taxpayers who lost work in 2020 could see extra refund money soonest

The IRS detailed on how it will handle a mixup involving a tax break for jobless benefits that became law a month after many already filed returns.

Money

Some people are waiting longer for tax refunds: Why they’re delayed

May 13, 2021May 16, 2021Susan Tompor, Detroit Free PressComments Off on Some people are waiting longer for tax refunds: Why they’re delayed

Tax refund delays are hitting millions of people, as the IRS deals with staff shortages, equipment issues and other problems.

Money

Tax return deadline is May 17: Why filing is vital for parents

May 11, 2021May 15, 2021Susan Tompor, Detroit Free PressComments Off on Tax return deadline is May 17: Why filing is vital for parents

Many people, including those who normally aren’t required to file, will want to file a tax return by May 17. Child Tax Credit to offer cash in July.

Money

Don’t pay student loans with your stimulus check. Cash it toward credit card debt: Here’s why.

May 7, 2021Susan Tompor, Detroit Free PressComments Off on Don’t pay student loans with your stimulus check. Cash it toward credit card debt: Here’s why.

How can you invest stimulus money wisely? Think twice if you’re planning to use a big chunk of stimulus cash to pay off college debt.

Money

When will more ‘plus-up’ payments arrive? Nearly 700,000 catch-up checks this week went to people who qualify for more stimulus money

April 22, 2021Susan Tompor, Detroit Free PressComments Off on When will more ‘plus-up’ payments arrive? Nearly 700,000 catch-up checks this week went to people who qualify for more stimulus money

Some who filed 2020 income tax returns may qualify for more stimulus money now and the IRS is making those adjustments.

Money

Where is my tax refund and why is it taking so long to get this year? Some IRS refunds are taking 6-8 weeks

April 22, 2021April 27, 2021Susan Tompor, Detroit Free PressComments Off on Where is my tax refund and why is it taking so long to get this year? Some IRS refunds are taking 6-8 weeks

Some early filers are waiting for a tax refund more than six weeks already — far longer than typical — as the IRS deals with tax credits and fraud.

Money

When are taxes due? Despite income federal deadline extension, April 15 remains key deadline for some taxpayers.

April 15, 2021Susan Tompor, Detroit Free PressComments Off on When are taxes due? Despite income federal deadline extension, April 15 remains key deadline for some taxpayers.

Federal tax returns are due May 17, but many people still need to pay their first quarter 2021 estimated tax payments April 15. Plus more tax tips.

Money

Too many making new stimulus mistakes on their 2020 tax returns

April 7, 2021April 7, 2021Susan Tompor, Detroit Free PressComments Off on Too many making new stimulus mistakes on their 2020 tax returns

The IRS is mailing letters to some taxpayers who claimed the 2020 Recovery Rebate Credit and may be getting less stimulus than expected. Here’s why.

Money

Did you lose your job in 2020? You may be eligible for extra stimulus money

April 2, 2021April 2, 2021Susan Tompor, Detroit Free PressComments Off on Did you lose your job in 2020? You may be eligible for extra stimulus money

Some people now qualify for extra money based on their financial or household situation in 2020.

Money

New tax refund scam targets college students, professors with .edu email addresses

April 1, 2021April 1, 2021Susan Tompor, Detroit Free PressComments Off on New tax refund scam targets college students, professors with .edu email addresses

Phishing emails, pretending to have tax refund information, are targeting college students, professors and others who have .edu email addresses.

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