A record number of Americans applied for unemployment compensation this year due to the COVID-19 outbreak. Lawmakers passed the CARES Act in March, which boosted unemployment benefits across the country and expanded eligibility for benefits. With many new terms and guidelines, taxpayers should prepare for the upcoming tax season to avoid unexpected bills on their tax … [Read more...] about What you need to know about your unemployment benefits
Abandoned – a term that strikes fear and pain. In addition to the emotional distress incurred by an abandoned spouse or one in the midst of a messy divorce, the Internal Revenue Service strikes you as ineligible for many credits and deductions when you file your income taxes as married filing separately. “There’s a myriad of tax benefits that are automatically lost the … [Read more...] about Where law and taxes intersect