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Author: Susan Tompor, Detroit Free Press

Money

IRS sends out letters now about the new Child Tax Credit

June 8, 2021 Susan Tompor, Detroit Free Press Comments Off on IRS sends out letters now about the new Child Tax Credit

The IRS is sending two batches of letters to families who may be eligible for the advanced Child Tax Credit, which would roll out July 15.

Money

Extra tax refund money for unemployed isn’t arriving soon enough for some

May 27, 2021 Susan Tompor, Detroit Free Press Comments Off on Extra tax refund money for unemployed isn’t arriving soon enough for some

Millions of early tax filers wait for a special refund that could involve a few thousand dollars, as the IRS corrects returns to reflect a new waiver.

Money

How crypto coin scams use celebrity imposters, other tricks to steal cash

May 26, 2021 Susan Tompor, Detroit Free Press Comments Off on How crypto coin scams use celebrity imposters, other tricks to steal cash

A Michigan woman was targeted by scammers who pretended to be from a crypto coin website and attempted to drain $50,000 from her bank account.

Money

Unemployment $10,200 tax break: Single taxpayers who lost work in 2020 could see extra refund money soonest

May 14, 2021 Susan Tompor, Detroit Free Press Comments Off on Unemployment $10,200 tax break: Single taxpayers who lost work in 2020 could see extra refund money soonest

The IRS detailed on how it will handle a mixup involving a tax break for jobless benefits that became law a month after many already filed returns.

Money

Some people are waiting longer for tax refunds: Why they’re delayed

May 13, 2021May 16, 2021 Susan Tompor, Detroit Free Press Comments Off on Some people are waiting longer for tax refunds: Why they’re delayed

Tax refund delays are hitting millions of people, as the IRS deals with staff shortages, equipment issues and other problems.

Money

Tax return deadline is May 17: Why filing is vital for parents

May 11, 2021May 15, 2021 Susan Tompor, Detroit Free Press Comments Off on Tax return deadline is May 17: Why filing is vital for parents

Many people, including those who normally aren’t required to file, will want to file a tax return by May 17. Child Tax Credit to offer cash in July.

Money

Don’t pay student loans with your stimulus check. Cash it toward credit card debt: Here’s why.

May 7, 2021 Susan Tompor, Detroit Free Press Comments Off on Don’t pay student loans with your stimulus check. Cash it toward credit card debt: Here’s why.

How can you invest stimulus money wisely? Think twice if you’re planning to use a big chunk of stimulus cash to pay off college debt.

Money

When will more ‘plus-up’ payments arrive? Nearly 700,000 catch-up checks this week went to people who qualify for more stimulus money

April 22, 2021 Susan Tompor, Detroit Free Press Comments Off on When will more ‘plus-up’ payments arrive? Nearly 700,000 catch-up checks this week went to people who qualify for more stimulus money

Some who filed 2020 income tax returns may qualify for more stimulus money now and the IRS is making those adjustments.

Money

Where is my tax refund and why is it taking so long to get this year? Some IRS refunds are taking 6-8 weeks

April 22, 2021April 27, 2021 Susan Tompor, Detroit Free Press Comments Off on Where is my tax refund and why is it taking so long to get this year? Some IRS refunds are taking 6-8 weeks

Some early filers are waiting for a tax refund more than six weeks already — far longer than typical — as the IRS deals with tax credits and fraud.

Money

When are taxes due? Despite income federal deadline extension, April 15 remains key deadline for some taxpayers.

April 14, 2021April 15, 2021 Susan Tompor, Detroit Free Press Comments Off on When are taxes due? Despite income federal deadline extension, April 15 remains key deadline for some taxpayers.

Federal tax returns are due May 17, but many people still need to pay theirĀ first quarter 2021 estimated tax payments April 15. Plus more tax tips.

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