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Almost 4 million refunds will be sent out this week to taxpayers who overpaid taxes on their 2020 unemployment benefits, the IRS recently announced. By Georgina Tzanetos Read: Biden and IRS Put Pressure on Crypto Tax Avoidance, Transactions Over $10,000Find Out: 35 Million Tax Returns Still Aren’t Processed, Refunds Are Coded IRS TREAS 310 – Here’s Why The American Rescue Plan stimulus relief bill was signed into law in March, and included benefits for unemployment that were not available before the bill’s passing....

Most taxpayers are aware of the retirement benefits of the Social Security system. However, perhaps one of the greatest benefits of the entire program, the spousal benefit, is not as well-known. The spousal benefit provides for lifelong retirement payouts to eligible spouses, even if they never worked a day in their entire lives. However, as with any governmental program, there are a number of rules and regulations that you’ll have to know in order to maximize your benefit....

The dream of early retirement remains out of reach for most people because it’s a double-edged sword: You get fewer years to save and more years to make those savings last. By Andrew Lisa But it’s not impossible. Retirement at Any Age: Get Retirement Tips That Fit Every Stage of Life Learn: 6 Things You Must Do When Planning for Retirement With intelligent planning, wise investments and diligent saving, you might be able to shave 10 years off the typical target age and start living your retirement dreams when you’re as young as 55....

By Josephine Nesbit See: The 8 Best Deals From Costco’s September Coupon BookFind: When Social Security Runs Out: What the Program Will Look Like in 2035 Bloomberg reported in August that the fee has already been tested and implemented in six cities, including Portland, Md., Providence, R.I., Manchester, N.H., and the greater Detroit, Boston and Chicago areas. More From Your Money: Choose a high-interest saving, checking, CD, or investing account from our list of top banks to start saving today....

Bestow Life Insurance Overview Bestow life insurance promotes itself as an easy way to access life insurance. Most life insurance companies require customers to take part in a health exam before approval. Instead, Bestow asks consumers to answer a health and lifestyle questionnaire that it uses to determine eligibility. By Joshua Rodriguez Overview Features Competitor Comparison How To Apply Who It’s Best For Quick Take: Bestow life insurance works with quality A+ rated carriers to provide term life insurance....

Crypto winter — the cryptocurrency equivalent of a bear market on Wall Street — has arrived. By Dawn Allcot See: 36% of Employees Want To Be Paid in Crypto: What Are the Pros and Cons?Find: Experts Address 5 Biggest Crypto Concerns While financial experts have a specific benchmark to define a bear market, which means that stocks have dipped by 20% from their highest value, the definition of a crypto winter is not as specific....

A commonly tossed-about phrase on Wall Street is that you should “invest in what you know.” Although that’s a simplistic approach to investing, it does have an underlying current of truth. After all, the reason that companies become well-known is that many, many people use their products, thereby generating sales and profits. So, if you’re a regular user of a product or service, why not participate in the growth of that business yourself?...

In a perfect world, making sound investment decisions would be second nature and lead to lucrative profits no matter what. But, in reality, nothing could be further from the truth. By Cynthia Measom “Investing profitably over a long period of time is hard work,” said V. Henry Astarjian, managing director of Waterstone Advisors LLC. “Like growing a beautiful garden, it requires consistent attention and care. If you think of yourself as an attentive gardener, you might make better investment decisions for your portfolio and actually make money over time....

Most major grocery store chains and retailers accept EBT cards to purchase SNAP-eligible items, but you can also use your SNAP EBT at participating farmers’ markets to purchase fresh produce. By Josephine Nesbit Find Out: What Is the Highest Income for Food Stamps in 2022?More: If Your Credit Score Is Under 740, Make These 4 Moves Now SNAP provides food-purchasing assistance to low-income individuals and households. Benefits are deposited monthly into SNAP accounts linked to EBT cards, which work like credit or debit cards....

Today is Teacher Appreciation Day, so be sure to thank those who do their best to prepare your children for their futures, or perhaps contact a former favorite teacher of yours and let them know how much they meant to you. That sounds nice, right? OK, now here’s our Tuesday roundup of financial stories you need to know. By Gary Dudak The Big Lead: JOLTS Report Both the number of job openings and the number of Americans who quit their jobs were at record highs in March, according to the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) report....

According to the Social Security Administration, the easiest time to get your newborn a Social Security number is while you are still at the hospital, when you give information for your child’s birth certificate. If you wait longer, you will have to apply for a number at a Social Security office, which could result in delays while the birth certificate is verified. By Georgina Tzanetos See: Your 2021 Baby Makes You Eligible for the Child Tax CreditFind: How To Live Richer as a New Parent...

The LEGO Group and Epic Games announced a partnership to shape the future of the metaverse, “to make it safe and fun for children and families,” the companies said in a recent press release. By Yaёl Bizouati-Kennedy Epic Games then announced a $2 billion round of funding to advance the company’s vision to build the metaverse and support its continued growth, including investments from existing investor Sony Group Corporation as well as KIRKBI, the family-owned holding and investment company behind The LEGO Group, with each party investing $1 billion respectively, according to a separate press release....

New York residents who need help heating their homes this winter can now apply for the state’s Home Energy Assistance Program (HEAP), which provides financial assistance with heating bills and related expenses. By Vance Cariaga Diesel Reaches ‘Unacceptably Low’ Levels: How It Could Impact Winter Heating CostsExplore: Unplug These Appliances That Hike Up Your Electricity Bill The 2022-2023 Regular HEAP benefit opened on Nov. 1, according to the program’s website. If you are eligible for the program, you can receive one regular HEAP benefit per program year....

Ratings agencies and global experts expect Russia’s default on its debts to be imminent, and some are now worried about potential global implications. By Yaёl Bizouati-Kennedy See: Tesla Will Keep Conscripted Ukrainians on Payroll for 3 MonthsFind: Deutsche Bank Reverses Course, Says It Is ‘Winding Down’ Business in Russia Fitch downgraded Russia’s Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘C’ from ‘B’ on March 8, which reflects the agency’s view that a sovereign default is imminent, Fitch said in a note on its website....

The rate of inflation skyrocketed to 6.8% in 2021, its highest 12-month (ending November) increase since 1982, according to data from the U.S. Bureau of Labor Statistics. The Social Security Administration has also confirmed that Social Security benefits will increase by 5.9% for approximately 70 million Americans in 2022. What does extra Social Security income mean for SNAP recipients? By Josephine Nesbit See: Social Security: Could the COLA Increase Cost You Money?...

In another blow to millions of borrowers, a federal court declined to reverse a ruling blocking President Joe Biden’s student debt relief program on Nov. 30. By Yaёl Bizouati-Kennedy Discover: 3 Things To Glean From the Student Loan Relief Approval LetterSee: 5 Potential Shakeups to Student Loan Repayments Expected in the New Year The three-judge panel of the United States Court of Appeals for the 5th Circuit unanimously rejected the administration’s request to reverse a Texas judge’s ruling that is blocking the student debt relief program, according to court filings....

At the beginning of the year, the IRS informed taxpayers to expect waiting periods longer than usual for both the processing of their tax returns and answers to service calls. In fact, the backlog of people needing service became so bad that at a certain point the IRS flatly told people to stop calling as there were unprecedented wait times and all information was available online. By Georgina Tzanetos See: IRS to Send More Unemployment Tax Refund Checks in JulyFind: Your Babysitting and Daycare Costs Could Get You an $8,000 Tax Refund...

By Gabrielle Olya Have a Small Business That You’d Like To See Highlighted? Nominate Them Here In this edition of our Small Business Spotlight series, we’re featuring R&ARIE, a skincare company based in Portland, Oregon. Owner Reeba Daniel creates unique intentional self-care products and small business collaborations to provide themed gift boxes and holistic life support. Here, we chat with her about how losing a job inspired her to strike out on her own, the barriers she has faced as a Black entrepreneur and her unique vision for the future of her company....

By Gabrielle Olya The average American has $90,460 in debt between credit cards, personal loans, mortgages, student debt and other forms of consumer debt, CNBC reported. And when you owe nearly six figures (or more) it can be overwhelming to figure out what to do to get out of it. But no matter how much debt you have, it’s possible to manage it, pay it down and come out the other side....

Like it or not, the end of summer marks the beginning of the holiday shopping season for a large segment of the consumer population — and that’s a holly jolly trend for the retail industry. The world’s biggest retailer, Walmart, is already promoting affordable toys for inflation-weary consumers who are tired of paying high prices. By Vance Cariaga See: 9 Best Dollar Tree Items for Fall 2022Find: 10 Items That Are Always Cheaper at Sam’s Club...