Andrew Chan How Social Security and Medicare will be affected by the COVID-19 pandemic is still uncertain; the Trustees acknowledge that the estimates and analysis included in the reports do not reflect the potential effects. Social Security Trust Funds The Social Security program consists of two parts, each with its own financial account (trust fund) that holds … Read more
The number of unemployed workers spiked above 22 million in March 2020, and more than 9 million people were still out of work at the end of the year. 1 Both relief bills expanded unemployment benefits and provided them to many workers who normally are not eligible (including the self-employed, independent contractors, and part-time workers). … Read more
Collections on defaulted loans will also be halted, and borrowers with defaulted loans whose employers continue to garnish their wages will receive a refund of those garnishments. The extension for student loan borrowers is automatic. Borrowers will be notified of the extension throughout the fall and can expect to see the extension reflected in their … Read more
To speed refunds and help with tax filing, the IRS suggests the following: Here are several important dates to keep in mind. The IRS encourages taxpayers seeking a tax refund to file their tax return as soon as possible. The IRS anticipates most tax refunds being issued within 21 days of the IRS receiving a … Read more