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Tax Day was Monday, April 18, for most taxpayers (some taxpayers in the northeast have some extra time to file thanks to Patriots’ Day). Not everyone who needed to file made it on time. A million things could have happened. Maybe your hard drive died, maybe you ate some bad fish, or maybe your dog ate your...
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Many financial experts advise taxpayers to avoid getting a big tax refund. They make the valid point that it’s silly to let the government use your money over the year for free and that you should have access to that money. But in reality, for many Americans, the tax refund is an essential part of...
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If you just filed your taxes, you probably feel relieved. So why would you amend? Perhaps you discover that you omitted the income from a Form 1099 (so you’ll owe IRS more). Or maybe you forgot to claim a key deduction like your state taxes, mortgage interest or a big contribution to charity. Fixing those mistakes might...
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All is definitely not quiet on the tax front. The start of this year’s tax filing season has been marked by ever more sophisticated ID and refund theft schemes and Congress’ surprise retroactive re-authorization–in 2018–of certain individual tax breaks for 2017.  Meanwhile, taxpayers are  just beginning to wrestle with what the sweeping tax overhaul President Trump signed into law last December means...
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An income tax refund may be the biggest check some people see all year. That makes tax season a great time to jump-start a savings plan, financial experts say. “Tax time is a critical moment, especially for vulnerable consumers,” said Brian Gilmore, senior innovation manager at Commonwealth, a nonprofit in Boston that focuses on helping...
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Michigan’s more than 170 hospitals cut bad debt and unpaid costs of care by more than $400 million in 2015, the first full year of Healthy Michigan Medicaid expansion and individual private insurance market assistance that added nearly 1 million people to insurance rolls, according to a new report by the Michigan Health and Hospital...
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WASHINGTON – If you haven’t gotten yours yet, you should soon: a somewhat fatter paycheck, thanks to the tax reform bill passed by Congress and signed into law by President Donald Trump late last year. But while you’re headed out to spend or save those newfound gains — admittedly modest, depending on your income — you may want...
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Tax season is rapidly approaching and both taxpayers and financial advisors are still getting acquainted with all the finer details of the GOP’s new legislation. This year, tax filing season extends from Jan. 29 until April 17. With the sweeping changes enacted to the nation’s tax code beginning in January, taxpayers should not continue to...
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The festive month-long holiday with family and friends was great, but now consumers need to plan for the year ahead. January is a great time to re-evaluate and look at your goals for the year, which should focus entirely on budgeting and saving. “We underestimate the value of saving and often end up wishing that...
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Most people don’t associate January with tax season. But if you’re eager to get moving on your taxes, you should know that there are certain benefits to filing prior to the official deadline, which this year is April 17. What’s the earliest date you can submit a tax return in 2018? The Internal Revenue Service...
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