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Pandemic-Year Taxes: What You Need to Know

  • Pandemic-Year Taxes: What You Need to Know Pandemic-Year Taxes: What You Need to Know 5:38
    What happens if I don't file my taxes? What happens if I don't file my taxes? 1:59
10:12 a.m. Nov. 22, 2021 - By Frances Yue
Bitcoin, ether see further declines Monday, while crypto gaming tokens extend rallyBitcoin was trading near $55,920 Monday afternoon, down 5.8% over the past 24 hours and down 10.6% during the past seven days, according to CoinDesk data. Ether tumbled 6.7% in the past 24 hours, recently trading at around $4,061. It logged a 9.3% loss over the past seven days. The two largest cryptocurrencies have been under pressure since President Joe Biden signed into law on Nov. 15 a $1 trillion infrastructure bill, which contains a provision that would require brokers of digital assets to record and report transactions to the Internal Revenue Service starting 2023. Blockchain gaming and Metaverse-related tokens continue to rally after Facebook changed its name to Meta to show its resolution to build a Metaverse. Gala rose about 2.1% over the past 24 hours to $0.4, contributing to a 302% gain over the past seven days, according to CoinMarketCap. The Sandbox rallied 12.6% over the past 24 hours to $4.4, with a 60% gain over the past seven days. Decentraland went up 2.9% during the past 24 hours to $3.85, notching a 21% gain over the past seven days.
4:00 a.m. July 14, 2021 - By MarketWatch
You check your stock portfolio dozens of times a day. Is that a problem?Some investors obsess over the market and concerned financial advisers bring perspective.
12:00 p.m. July 9, 2021 - By MarketWatch
Get ready for peak earnings growth as second-quarter results kick off next weekStock indexes pull back from record territory on Thursday as growth concerns come into focus, but equities still could get a boost next week from the kickoff of second-quarter earnings.
7:00 a.m. July 6, 2021 - By MarketWatch
The second most popular destination in the world wants its tourists backVisitors are returning to Spain, but will they arrive soon enough and in sufficient numbers?
4:00 a.m. June 10, 2021 - By MarketWatch
Consumer prices soar again, CPI shows, and shove rate of inflation to a 13-year highThe cost of living surged again in May and drove the pace of inflation to a 13-year high of 5%, reflecting a broad increase in prices confronting Americans as the economy fully reopens. The consumer price index jumped 0.6% last month.
12:00 p.m. June 8, 2021 - By MarketWatch
How did federal agents recover bitcoin and access a crypto wallet tied to the Colonial Pipeline cyberattack?U.S. federal authorities are fairly tight-lipped on law enforcement's method of recovering some $2.3 million in bitcoin paid to cyber-hackers of Colonial Pipeline Cos. It is a rare, but not unprecedented, win for federal agents who are part of a newly formed Ransomware and Digital Extortion Task Force.
7:00 a.m. June 8, 2021 - By MarketWatch
Bitcoin skids to two-week low, but technical analyst says the slump is not a ‘decisive breakdown’ — she’s watching the next two closesBitcoin faces fresh selling pressure Tuesday, dragging the world's No. 1 crypto to lows not seen since late May. However, at least one technical analyst, says that the slump in bitcoin doesn't represent a decisive breakdown until it sees weak closes today and tomorrow.
4:00 a.m. June 8, 2021 - By MarketWatch
Since 2008, this has been the biggest signal for stock direction. Here’s where it’s telling investors to go now.Our call of the day says a single indicator is telling them which stock sectors are the best bet right now.
7:09 a.m. May 30, 2021 - By Quentin Fottrell
My wife and I defrauded the government by hiding income. Now we’re divorcing, and she’s threatening to ruin us both ‘She left me for her pandemic boyfriend. She was caught at our vacation home with him’‘She left me for her pandemic boyfriend. She was caught at our vacation home with him.’
3:56 a.m. May 19, 2021 - By Quentin Fottrell
I share custody with my ex-wife 50-50, but our daughters live with me 24/7 due to her boyfriend’s meth habit. What happens to the child tax credit? ‘Will she still be able to use our daughter as a tax deduction? My concern is also with the coming child tax credit this summer’‘Will she still be able to use our daughter as a tax deduction? My concern is also with the coming child tax credit this summer.’
7:18 a.m. May 8, 2021 - By Alessandra Malito
We have $190,000 in retirement savings and want to use the COVID-related distribution rules to pay off $40,000 in debt — should we? The CARES Act allows some savers Americans to take money out of their retirement accounts — but advisers say they should proceed with cautionThe CARES Act allows some savers to take money out of their retirement accounts — but advisers say they should proceed with caution.
10:42 a.m. April 17, 2021 - By Quentin Fottrell
My fiancée’s mother asked us to raise her 2 kids, as we live in a good school district and she has a gambling addiction — then she claimed their stimulus checks ‘I advised her to leave the money as the IRS may eventually ask for it back. Her new boyfriend then quickly told her to withdraw it anyway’‘I advised her to leave the money as the IRS may eventually ask for it back. Her new boyfriend then quickly told her to withdraw it anyway.’
4:56 a.m. April 11, 2021 - By Quentin Fottrell
I received two $1,400 stimulus payments because I was also claimed as a dependent. Should I give one back? The Moneyist: ‘You cannot be claimed as a dependent and file a tax return yourself and expect a payment. It’s one or the other’The Moneyist: ‘You cannot be claimed as a dependent and file a tax return yourself and expect a payment. It’s one or the other.’
5:21 a.m. April 10, 2021 - By Quentin Fottrell
I’m 30. My wife is 34. We saved $350K and I have $325K saved for retirement. Should we pay cash for a home — or take out a mortgage and invest it? ‘We have been cheaply renting for the last three years, and living as if I were still a very poor graduate student. During this time, we paid off all of our debts’‘We have been cheaply renting for the last three years, and living as if I were still a very poor graduate student. During this time, we paid off all of our debts.’
5:38 a.m. April 4, 2021 - By Quentin Fottrell
My parents claimed me on their 2019 taxes and received my third stimulus check, but I don’t qualify based on my taxes. Will the IRS ask for it back? ‘Am I safe to spend the money? Or will the Internal Revenue Service want it back from me when the next tax season rolls around?’‘Am I safe to spend the money? Or will the Internal Revenue Service want it back from me when the next tax season rolls around?’
7:00 a.m. April 1, 2021 - By MarketWatch
How 6 feet became 3: Meet an ER doctor behind the research showing kids are still safe in school with new social-distancing standardDr. Elissa Schechter-Perkins is an emergency room physician at Boston Medical Center. She's also one of the authors of a study that indicates three feet of spacing is just as safe for students as six feet of distance as long as they are masked.
8:08 a.m. March 30, 2021 - By Victor Reklaitis
Stimulus checks to reach Social Security recipients who don't file taxes on April 7: White HouseWhite House press secretary Jen Psaki on Tuesday indicated that $1,400 stimulus checks should arrive soon for Social Security recipients who aren't required to file tax returns. The Social Security Administration and Internal Revenue Service "will soon announce that we are on track to send those payments out this weekend," she told reporters during a briefing. "The majority of people should see them in their bank accounts on Wednesday, April 7." The first direct payments more than two weeks ago.
5:59 a.m. March 27, 2021 - By Quentin Fottrell
My husband and his ex-wife agreed that he could claim their kids on his taxes, but now she’s ‘demanding’ half their stimulus ‘I believe she didn’t adjust her budget when the alimony ended, and now she is looking for ways to receive more money from him’‘I believe she didn’t adjust her budget when the alimony ended, and now she is looking for ways to receive more money from him.’
12:05 p.m. March 22, 2021 - By Elisabeth Buchwald
7 things NOT to buy with your $1,400 stimulus check and existing-home sales fall as inventory remains a challenge for buyers Monday’s top personal finance stories Monday’s top personal finance stories Monday’s top personal finance stories
12:00 p.m. March 22, 2021 - By MarketWatch
Bitcoin, crypto investors will be watching these 5 questions facing the Biden administrationThe fate of the dizzying rally in crypto assets could depend greatly on the Biden administration's regulatory stance to the burgeoning crypto economy
9:56 a.m. March 17, 2021 - By Tomi Kilgore
H&R Block's stock pares gains as a delayed tax deadline could push back revenue, increase expensesShares of H&R Block Inc. have pared most of their intraday gains Wednesday, was up just 0.3% in afternoon trading, after for filing taxes by about a month. Earlier, the stock was up as much as 1.6% at the intraday high of $21.07. As BMO Capital analyst Jeffrey Silver explained, although an extended deadline won't affect how many people use H&R Block to file taxes, it will likely reduce revenue for the fiscal fourth-quarter, which ends April 30, and shift it to the fiscal first quarter. In addition, like what happened last year when the deadline was shifted because of a delayed start caused by the COVID-19 pandemic, Silber said H&R Block could some "incremental overlapping expenses," such as extended marketing campaigns. H&R Block's stock has rallied 31.0% over the past three months, while the S&P 500 has gained 6.9%.
9:16 a.m. March 17, 2021 - By Victor Reklaitis
IRS plans to delay tax filing deadline by a monthThe Internal Revenue Service plans to delay its April 15 deadline for filing taxes by a month, according to multiple published reports. The new deadline would be in mid-May, the reports said. It would come after the IRS , citing the ongoing COVID-19 pandemic.
7:30 a.m. March 17, 2021 - By Victor Reklaitis
90 million stimulus payments disbursed so far, government saysAbout 90 million stimulus payments worth a total of more than $242 billion have been disbursed so far, said a news release on Wednesday from the Treasury Department, the Internal Revenue Service and the Bureau of the Fiscal Service. "The first batch of payments were mostly sent by direct deposit, which some recipients started receiving this past weekend," the release said. "As of today, all recipients of this first batch of direct deposit payments will have access to their funds." Most Americans are expected to get a through the $1.9 trillion COVID-19 relief package that was signed into law last week.
8:46 a.m. March 16, 2021 - By Quentin Fottrell
‘Change can happen without us noticing’: COVID brought us a year of epic uncertainty — but here’s what I know for sure ‘The isolation doesn’t seem quite so intense one year later. Perhaps we have normalized it, but we can be forgiven if our stoicism turns to fatigue’‘The isolation doesn’t seem quite so intense one year later. Perhaps we have normalized it, but we can be forgiven if our stoicism turns to fatigue.’
1:02 a.m. March 16, 2021 - By Steve Goldstein
Coca-Cola started at buy with $65 price target at RedburnCoca-Cola was started at buy at U.K. broker Redburn with a $65 price target, which said the beverage giant offers exposure to the brand owner and the bottling system, which is an outsourced production model of around 225 bottlers. The next decade will bring 5.5% organic sales growth (50bp ahead of consensus), and 7% organic operating income growth, which is in line with consensus. There is upside optionality from a successful pivot into the alcohol and coffee categories and from refranchising margin-dilutive company-owned bottling assets, the brokerage added. A worst-case result from the Internal Revenue Service case over transfer pricing would lower its price target by $6.
5:52 a.m. March 11, 2021 - By Ed Seaver
Get a health savings account now, you’ll thank yourself in retirement An HSA will help you save for expenses now and in retirementAn HSA will help you save for expenses now and in retirement
9:46 a.m. March 4, 2021 - By rbisdale
What happens if I don't file my taxes?This tax season may look different because of the pandemic, but that doesn't mean you're off the hook. Here's why you should be sure to file yours by the deadline.
4:16 a.m. March 1, 2021 - By Andrew Keshner
Americans can’t file their income taxes fast enough — but they should brace for some unwelcome news in their 2020 refunds The IRS has received approximately 21% more individual returns than the agency received last year by Feb. 7, which was 12 days into the tax season last year The IRS has received approximately 21% more individual returns than the agency received last year by Feb. 7, which was 12 days into the tax season last year.
4:00 a.m. Feb. 27, 2021 - By MarketWatch
Americans can’t file their income taxes fast enough — but they should brace for some unwelcome news in their 2020 refundsThe IRS has received approximately 21% more individual returns than the agency received last year by Feb. 7, which was 12 days into the tax season last year.
12:43 p.m. Feb. 24, 2021 - By Elisabeth Buchwald
Many Texans face sky-high electricity bills after winter storms and IRS has already received 55 million tax returns ahead of April 15 deadline Wednesday’s top personal finance stories Wednesday’s top personal finance stories Wednesday’s top personal finance stories
12:00 p.m. Feb. 24, 2021 - By MarketWatch
Nvidia quarterly sales top $5 billion for first timeNvidia Corp. on Wednesday reported that its quarterly revenue blew past last quarter's record-setting sales as high holiday demand for gaming chips met with supply shortages.
11:35 a.m. Feb. 20, 2021 - By Quentin Fottrell
Our housekeeper does not work when we’re at home due to COVID-19. We still pay her. Could we treat those payments as a ‘gift’ to reduce her income tax? ‘Understanding that times are tough, we have continued to send her payment for the weeks where we asked her to stay home’‘Understanding that times are tough, we have continued to send her payment for the weeks where we asked her to stay home.’
9:10 a.m. Feb. 19, 2021 - By Ed Seaver
How to take advantage of an HSA now Health Savings Accounts: You’ll thank yourself in retirementHealth Savings Accounts: You’ll thank yourself in retirement
10:31 a.m. Jan. 30, 2021 - By Alessandra Malito
How new Treasury Secretary Janet Yellen will impact retirement in the future During a Senate hearing, Yellen said she would look into tax benefits, Social Security and ways to help Americans saveDuring a Senate hearing, Yellen said she would look into tax benefits, Social Security and ways to help Americans save
3:34 a.m. Jan. 22, 2021 - By Quentin Fottrell
My husband is a felon and can’t find work. He did not file a 2019 tax return. Will we get $1,400 stimulus checks under Biden? ‘We are hurting and need this money.’‘We are hurting and need this money.’
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