Latest Personal taxes News

People wait to enter a supermarket that is limiting the number of customers at any one time, Friday, April 3, 2020, in Chelsea, Mass. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo/Michael Dwyer)

Gov. unveils tracing program; court rules on inmate release

Apr. 3, 2020 5:22 PM EDT

BOSTON (AP) — Gov. Charlie Baker announced a new contact tracing program Friday that he said will help the state limit the further spread of COVID-19 in Massachusetts. The program will focus on alerting individuals who may have come in contact with someone who tested positive for COVID-19 so they can...

President Donald Trump listens as Treasury Secretary Steven Mnuchin speaks about the coronavirus in the James Brady Press Briefing Room of the White House, Thursday, April 2, 2020, in Washington. (AP Photo/Alex Brandon)

Memo: Some in US may not get stimulus checks until August

Apr. 3, 2020 6:08 AM EDT

WASHINGTON (AP) — The federal government expects to begin making payments to millions of Americans under the new stimulus law in mid-April, but some people without direct deposit information may not get checks until mid-August or later, according to a memo obtained by The Associated Press. The document...

In this April 1, 2020, photo, President Donald Trump speaks about the coronavirus in the James Brady Press Briefing Room of the White House in Washington. At a time of social distancing,Trump is leaning into his plea to Congress to restore full tax benefits prized by business for fine dining and schmoozing. Trump is seizing on the pandemic crisis to target an item on his wish list: full tax deductions for business meals in restaurants and for other entertainment expenses. (AP Photo/Alex Brandon)

Boost the schmooze? Trump wants tax dining deduction back

Apr. 3, 2020 12:41 AM EDT

WASHINGTON (AP) — It may be an odd gesture at a time of social distancing, but President Donald Trump is leaning into his plea to Congress to restore full tax benefits prized by business for fine dining and schmoozing. Trump is seizing on the pandemic crisis to push for an item on his economic wish list:...

Texas Tavern employees Chris Dobe, left, and Nick Moore wait for take out orders on Monday night, March 30, 2020. Though customers are tipping well, and the diner is still open 24-7, Moore said they are making a quarter to a third less than what they normally do in tips. (Heather Rousseau/The Roanoke Times via AP)

What you need to do to get your government stimulus check

Apr. 2, 2020 3:48 PM EDT

The IRS and the Treasury Department say Americans will start receiving their economic impact checks within the next few weeks. The payments are part of the $2.2 trillion rescue package signed into law last week by President Donald Trump aimed at combating the economic ravages of the coronavirus outbreak. Most...

Wearing a mask amid concerns of the spread of COVID-19 a woman pushes a basket full of groceries out of a store in Richardson, Texas, Wednesday, April 1, 2020. (AP Photo/LM Otero)

Virus spreads and car sales, energy prices, markets tumble

Apr. 1, 2020 8:58 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Wednesday related to the global economy, the work place and the spread of the virus. ________ THINGS WE VALUED: The outbreak has reshuffled the pecking order of what holds value and...

Texas Tavern employees Chris Dobe, left, and Nick Moore wait for take out orders on Monday night, March 30, 2020. Though customers are tipping well, and the diner is still open 24-7, Moore said they are making a quarter to a third less than what they normally do in tips. (Heather Rousseau/The Roanoke Times via AP)

What you need to do to get your government stimulus check

Mar. 31, 2020 2:50 PM EDT

The IRS and the Treasury Department say Americans will start receiving their economic impact checks in the next three weeks. The payments are part of the $2.2 trillion rescue package signed into law last week by President Donald Trump aimed at combating the economic ravages of the coronavirus outbreak. Most...

FILE - This undated file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. When stock markets are rattled by news events, it’s unsettling for any investor — but especially so for those who are retired (or nearly there). The first thing anyone with an investment portfolio should do is make sure it’s properly balanced, taking both income needs and risk tolerance into account. (NerdWallet via AP, File)

Liz Weston: Don't give your adult kids your house

Mar. 30, 2020 7:04 AM EDT

Adding an adult child to your house deed, or giving them the home outright, might seem like a smart thing to do. It usually isn’t. Transferring your house to your kids while you’re alive may avoid probate, the court process that otherwise follows death. But gifting a home also can result in a big,...

FILE - In this Feb. 3, 2020, file photo, Sen. Pat Toomey, R-Pa., walks at the Capitol in Washington. The nation's fiercest fiscal conservatives are largely embracing the massive economic rescue package moving through Congress. In many cases, those conservatives who support the $2 trillion coronavirus spending bill are the very same who raged against the $800 billion economic stimulus package backed by the Obama administration after the 2008 financial crisis. (AP Photo/J. Scott Applewhite, File)

Hawks no more: Fiscal conservatives embrace rescue package

Mar. 28, 2020 1:45 PM EDT

NEW YORK (AP) — Republicans who have spent the past decade howling about the danger of ballooning deficits embraced the coronavirus rescue package approved by Congress and signed by President Donald Trump, shrugging off past concerns about spending in the face of a public health crisis. In many cases, the...

A woman wearing a surgical mask and gloves during the coronavirus outbreak walks past a mural in the Hyde Park neighborhood of Boston, Friday, March 27, 2020. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo/Michael Dwyer)

Visitors told to quarantine; health commish tests positive

Mar. 27, 2020 11:16 PM EDT

BOSTON (AP) — All visitors arriving in Massachusetts are being asked to self-quarantine for 14 days as the state tightens its efforts to slow the spread of the coronavirus, Gov. Charlie Baker said Friday. The Republican governor said travelers coming into Massachusetts through the state’s airports...

A man balances boxes of food that he picked up from Masbia Soup Kitchen, Thursday, March 26, 2020 during the coronavirus pandemic in the Brooklyn borough of New York. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo/Mark Lennihan)

Staying afloat: $2.2 trillion bill offers economic lifeline

Mar. 27, 2020 6:33 PM EDT

WASHINGTON (AP) — In the coronavirus crisis, even doctors can face a cash crunch. Dr. Benjamin Ticho, an ophthalmologist in Chicago Ridge, Illinois, has seen his revenue plunge 80% as patients stay home and he cancels non-emergency surgeries. He’s cut his staff’s hours sharply and is...