President-elect Donald Trump’s proposal to eliminate taxes on Social Security benefits, tips, and overtime income was a central point of his campaign, and it resonated strongly with voters. According to recent polls, the idea is overwhelmingly popular, with 66% of Americans supporting the plan. But while the proposal sounds appealing, it may have far-reaching consequences … Read more
Although millions of American taxpayers have already filed their 2023 tax returns in 2024, thousands have not yet done so. For those who requested an extension, the IRS has set a crucial deadline. Even though the initial deadline was April 15, an extension only postpones the filing date, not the payment date. Taxes owed should … Read more
The Child Tax Credit (CTC) has been a crucial financial aid for American families since its inception in 1997. Designed to alleviate the financial strain of raising children, it has undergone significant changes, especially in the wake of the American Rescue Plan. Let’s look into the latest updates on the $1,400/person plus $3,600 CTC payment … Read more
The Social Security Administration (SSA) has outlined the payment schedule for June 2024, featuring four paydays. Typically, there are five, but due to the rescheduling of Supplemental Security Income (SSI) payments to May 31 instead of June 1, the schedule is slightly altered. Here’s what you need to know about who will receive payments and … Read more