Latest Personal taxes News

FILE - In this Feb. 5, 2020, file photo, a W-4 form is viewed in New York. As the coronavirus pandemic took hold this spring, the federal government postponed the traditional April 15 filing deadline until July 15. The move provided some economic and logistic relief for taxpayers dealing with the disruptions and uncertainty brought on by lockdowns, school closures and shuttered businesses. But now that new deadline is rapidly approaching. (AP Photo/Patrick Sison, File)

No more delays: What to know about the July 15 tax deadline

Jul. 6, 2020 2:03 PM EDT

It’s time to do your taxes — no more delays. As the coronavirus pandemic took hold this spring, the federal government postponed the traditional April 15 filing deadline until July 15. The move provided some economic and logistical relief for taxpayers dealing with the disruptions and uncertainty...

FILE - In this Friday, April 17, 2020 file photo, a health worker arrives to take a nose swab sample as part of testing for the COVID-19 coronavirus at a nursing and rehabilitation facility in Seattle. Nursing home residents are among the Americans getting $1,200 checks as part of the U.S. government’s plan to revive the economy in 2020. But with many long-term care facilities under lockdown to prevent COVID-19 outbreaks, what are the rules around how the money is handled? (AP Photo/Ted S. Warren)

Stimulus money could pose dilemmas in nursing homes

Jul. 4, 2020 9:31 AM EDT

NEW YORK (AP) — Nursing home residents are among the Americans getting $1,200 checks as part of the U.S. government’s plan to revive the economy. But with many long-term care facilities under lockdown to prevent COVID-19 outbreaks, what are the rules around how the money is handled? The situation...

New Mexico Gov. Michelle Lujan Grisham speaks about the uptick in confirmed COVID-19 cases in the state and her decision to hold off on opening more of the economy during a news conference at the state Capitol on Thursday, June 25, 2020. (Eddie Moore/Albuquerque Journal via AP)

Home deliveries don't get food-tax exemption during pandemic

Jul. 2, 2020 7:01 PM EDT

SANTA FE, N.M. (AP) — Taxes are being levied on home-delivered groceries that are tax free when purchased at stores in New Mexico, undercutting incentives to stay at home during the coronavirus pandemic, tax policy experts warned Thursday. A panel of government income experts including Taxation Secretary...

Ex-professor found liable for misusung startup's funds

Jul. 2, 2020 3:30 PM EDT

BOSTON (AP) — A judge has found that a former Massachusetts Institute of Technology professor and self-styled “business guru” is liable for nearly $3 million in damages, attorney's fees and interest for using funds invested in a now-failed startup for personal expenses. John Donovan Sr., 77,...

FILE - In this March 1, 2020, file photo, Montana gubernatorial candidate Rep. Greg Gianforte and his running mate Great Falls lawyer Kristen Juras are seen during an event at the Pub Station in Billings, Mont. Gianforte on Wednesday, July 1, 2020, released tax returns showing he reported income of $184 million over a 10-year period. (Larry Mayer/The Billings Gazette via AP, File)

Tax returns: Republican Gianforte made $184M over 10 years

Jul. 1, 2020 6:47 PM EDT

BILLINGS, Mont. (AP) — Montana Republican gubernatorial candidate Greg Gianforte reported income of $184 million and paid $30.5 million in state and federal taxes over a 10-year period ending in 2018, according to tax returns released by his campaign Wednesday. Gianforte, a former technology entrepreneur...

New Mexico governor signs bill to help financial strain

Jun. 29, 2020 6:43 PM EDT

SANTA FE, N.M. (AP) — New Mexico Gov. Michelle Lujan Grisham on Monday signed a measure that would temporarily forgive tax-interest penalties during the coronavirus pandemic. The bill also will boost temporary state payments to cities hit hard by the economic downturn, a provision that garnered support...

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: Some taxpayers face a desperate wait for refunds

Jun. 29, 2020 6:44 AM EDT

As a 58-year-old woman on disability, Robin Short of Wallingford, Connecticut, relies on her tax refund to catch up on bills. She filed her return electronically in February, opting for direct deposit so she could get her $773 refund quickly. She’s still waiting, as are millions of others. The IRS is...

FILE - In this April 21, 2020, file photo Treasury Secretary Steven Mnuchin speaks about the coronavirus in the James Brady Press Briefing Room of the White House in Washington. The Trump administration has abruptly dropped on Friday, June 19, its insistence on secrecy for a $600 billion-plus coronavirus aid program for small businesses. Mnuchin refused to do so at a Senate hearing last week, saying the data was “proprietary information.” (AP Photo/Alex Brandon, File)

Audit: US sent $1.4B in virus relief payments to dead people

Jun. 25, 2020 5:58 PM EDT

WASHINGTON (AP) — Nearly 1.1 million coronavirus relief payments totaling some $1.4 billion went to dead people, a government watchdog reported Thursday. Legal and political issues hang over the misdirected taxpayer funds, the latest example of errors in massive aid being dispensed at crisis speed. As of...

FILE - In this April 23, 2020, file photo, President Donald Trump's name is seen on a stimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak, in San Antonio. Hundreds of thousands of dollars in coronavirus relief payments have been sent to people behind bars across the United States, and now the IRS is asking state officials to help claw back the cash that the federal tax agency says was mistakenly sent. (AP Photo/Eric Gay, File)

US inmates got virus relief checks, and IRS wants them back

Jun. 24, 2020 1:02 PM EDT

BOISE, Idaho (AP) — Hundreds of thousands of dollars in coronavirus relief payments have been sent to people behind bars across the United States, and now the IRS is asking state officials to help claw back the cash that the federal tax agency says was mistakenly sent. The legislation authorizing the...

Israeli Prime Minister Benjamin Netanyahu wearing a face mask attends a government Cabinet meeting at the Ministry of Foreign Affairs in Jerusalem, Israel, Sunday, June 21, 2020. (Abir Sultan/Pool Photo via AP)

Israeli lawmakers grant Netanyahu tax exemptions on benefits

Jun. 24, 2020 9:05 AM EDT

JERUSALEM (AP) — Israel's parliament has approved a request by Prime Minister Benjamin Netanyahu for tax exemptions for official benefits that could exceed $150,000. Coming at a time when Israel is grappling with a major economic crisis due to the pandemic and Netanyahu standing trial on corruption...