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Author: Susan Tompor, Detroit Free Press

Money

Student loan relief extended until Sept. 30: How to take advantage of it

January 27, 2021 Susan Tompor, Detroit Free Press Comments Off on Student loan relief extended until Sept. 30: How to take advantage of it

Many student loan borrowers already had been struggling before the pandemic hit in 2020. This year, borrowers hope for some added relief.

Money

Tax season 2021: How to get a bigger, quicker tax refund

January 25, 2021 Susan Tompor, Detroit Free Press Comments Off on Tax season 2021: How to get a bigger, quicker tax refund

Tax filers need to know rules relating to their unemployment checks, charitable contributions, and stimulus cash when trying to snag a tax refund.

Money

Blue Visa card looks like a stimulus scam. But it’s not

January 22, 2021January 22, 2021 Susan Tompor, Detroit Free Press Comments Off on Blue Visa card looks like a stimulus scam. But it’s not

Consumers are flooding the Better Business Bureau with calls about what looks like another stimulus scam. But it’s not a scam.

Money

Stimulus checks: There’s a new round of scams, too. Here’s how to avoid them

January 20, 2021January 31, 2021 Susan Tompor, Detroit Free Press Comments Off on Stimulus checks: There’s a new round of scams, too. Here’s how to avoid them

Con artists are playing tricks on taxpayers, small business owners and others relating to COVID-19 economic relief, including new stimulus payments.

Money

How to avoid losing unused cash in flexible spending accounts

January 16, 2021January 18, 2021 Susan Tompor, Detroit Free Press Comments Off on How to avoid losing unused cash in flexible spending accounts

The latest COVID-19 economic relief package addresses some potential changes for flexible spending accounts, which could help savers.

Money

Your 2020 tax returns: New rule helps those who lost jobs in 2020 qualify for key tax credits

January 13, 2021 Susan Tompor, Detroit Free Press Comments Off on Your 2020 tax returns: New rule helps those who lost jobs in 2020 qualify for key tax credits

Many people who depend on the Earned Income Tax Credit may not realize that they now can use wages from 2020 or 2019 to calculate the credit.

Money

Didn’t get your first or second stimulus? Here’s what to do if you must file a tax return for them.

January 10, 2021January 10, 2021 Susan Tompor, Detroit Free Press Comments Off on Didn’t get your first or second stimulus? Here’s what to do if you must file a tax return for them.

The Recovery Rebate Credit will reduce how much you owe on 2020 income tax return or boost a tax refund that arrives sometime in March or later.

Money

Lost a job? How to pay taxes on unemployment benefits

January 9, 2021 Susan Tompor, Detroit Free Press Comments Off on Lost a job? How to pay taxes on unemployment benefits

Unemployment benefits will be treated as fully taxable income when you file your federal income tax returns. Many states also tax jobless benefits.

Money

Some Americans won’t see a second stimulus payment before tax time, IRS says

January 6, 2021January 6, 2021 Susan Tompor, Detroit Free Press Comments Off on Some Americans won’t see a second stimulus payment before tax time, IRS says

Many consumers expressed frustration over IRS tool and delivery of stimulus payments on Tuesday. IRS gives some answers.

Money

Did the IRS send your second stimulus check to the wrong bank account?

January 5, 2021January 5, 2021 Susan Tompor, Detroit Free Press Comments Off on Did the IRS send your second stimulus check to the wrong bank account?

Some taxpayers discover they might have to wait for a check in the mail or to file their 2020 returns before second stimulus mess is resolved.

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Headlines

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1 dead, 18 injured after collision between car, Greyhound bus in Maryland, police say

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College professor harassed students to quench ‘clown fetish,’ offering extra credit, cash

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USA TODAY Sports staff makes college football picks: Check out the predictions for 2023

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Many homeless among dead in fire in Johannesburg, South Africa

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