IRS PROVIDES GUIDANCE FOR PUERTO RICO

IRS provides guidance for Puerto Rico. In IRS bulletin IR-2022-105, the Internal Revenue Service provided guidance for certain individuals in Puerto Rico on how to file and claim the Child Tax Credit payments that they are entitled to receive under the American Rescue Plan Act. “It’s important for residents of Puerto Rico to know that […]

ACTION MAY IMPACT YOUR 401 (k)

Action may impact your 401 (k). Due to the political agenda of climate change, advocacy groups have started pressing investment funds to invest more in technologies that help, not hinder climate change. Changing the corporate goals of large companies is one way to force change, according to a nonprofit shareholder advocacy group “As you Sow”. […]

SCAMMERS TARGETING UNEMPLOYMENT CLAIMS

Scammers targeting unemployment claims. Across the country, consumers are being warned that fraud is on the rise relating to jobless claims. The U.S. Secret Service has spotted trouble in Florida, Washington, North Carolina, Massachusetts, Rhode Island, Oklahoma, and Wyoming. “It is extremely likely every state is vulnerable to this scheme and will be targeted if […]

DELAYED MORTGAGE PAYMENT ANXIETY

Delayed mortgage payment anxiety. Americans struggling to pay their mortgages because they’ve lost a job or income during the coronavirus pandemic can put off that bill for up to a year to the CARES act. But while the measures should be creating a feeling of relief, many borrowers have been left anxious because of confusing […]

NEW IRS STANDARD MILEAGE RATES

New IRS standard mileage rates. The optional standard mileage rates for business use of a vehicle will decrease slightly in 2020 after increasing significantly in 2019, the IRS announced in Notice 2020-05. For business use of a car, van, pickup truck, or panel truck, the rate for 2020 will be 57.5 cents per mile in […]

FIVE TWO NINE COLLEGE SAVINGS PLANS POPULAR

Five two nine college savings plans popular. These are popular in so many ways with the public, and the size of these plans show it. The costs of college just keeps climbing, so it never too early to start planning for how you will pay for it. And if you think your highly gifted student […]