Lawmakers in Washington are exploring an unusual way to affect nicotine consumption and increase taxes on tobacco products sold in the state. Instead of increasing the excise tax rate, which is currently $3.025 per pack of 20 cigarettes, sponsors of HB 1550 are suggesting increasing the Business & Occupations (B&O) tax on tobacco manufacturers and
Victor Washington fell behind on his rent during the pandemic. He and his landlord, Andrea Sorum, joined forces to keep him in his home. Source: Andrea Sorum At one point in the pandemic, Victor Washington was nearly four months behind on his rent. The problems began soon after he moved into the one-bedroom condo in
Traffic passes along the Champs Elysee avenue near the Arc de Triomph in Paris, France, on Friday, March 19, 2021. French President Emmanuel Macron is locking down several regions including the Paris area, slowing down the countrys economic recovery as it struggles to contain a third wave of the coronavirus epidemic. Photographer: Cyril Marcilhacy/Bloomberg via Getty
The Federal Reserve on Friday declined to extend a pandemic-era rule that relaxed the amount of capital banks had to maintain against Treasurys and other holdings, in a move that could upset Wall Street and the bond market. In a brief announcement, the Fed said it would allow a change to the supplementary leverage ratio
US President Joe Biden speaks on the anniversary of the start of the Covid-19 pandemic, in the East Room of the White House in Washington, DC on March 11, 2021. Mandel Ngan | AFP | Getty Images With the latest coronavirus relief package behind him, President Joe Biden may turn to another legislative priority this
Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 5, 2020 at Wall Street in New York City. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images) Photo by Johannes Eisele | AFP | Getty Images It took the SPAC market just three months to
IRS headquarters in Washington, D.C. Samuel Corum/Bloomberg via Getty Images The IRS plans to automatically process refunds for taxpayers who had unemployment income in 2020 and filed their tax returns before legislation passed that made those benefits tax-free. The American Rescue Plan, which was signed into law by President Joe Biden on March 11, made
There are several ways to get your income tax refund as quickly as possible. Follow these tips from TaxAct to get your tax refund faster than ever. Everyone looks forward to getting their tax refund. They can use it to pay off debt, put it into their savings, take a vacation, or buy something they’ve
A student raises her hand in her virtual classroom at the Roxbury YMCA in Boston on Sept. 21, 2020. Suzanne Kreiter | Boston Globe | Getty Images Parents with kids stuck home during the pandemic will tell you how stressed they are, but now the CDC has proof that virtual schooling is taking a real
Federal Reserve Chair Jerome Powell arrives for a news conference following the Federal Open Market Committee meeting in Washington, December 11, 2019. Joshua Roberts | Reuters Federal Reserve Chairman Jerome Powell reiterated his commitment to an “all-in” approach to the recovery, pledging in a commentary piece for the Wall Street Journal to keep policy loose.
The Internal Revenue Service (IRS) announced Wednesday that it is pushing back the filing deadline for 2020 returns from April 15 to May 17, 2021. The move is intended to give tax filers more time to get their returns in order after a year that wreaked havoc on many people’s finances. Calls to extend the
Webull CEO Anthony Denier told CNBC on Friday that the brokerage app is seeing a rise in activity since the latest round of stimulus checks have been sent to Americans. “We have seen an uptick in deposits for sure,” Denier said in an interview on “Closing Bell.” “There’s definitely a pretty substantial increase in the
Marko Geber | DigitalVision | Getty Images The child tax credit payments authorized in the latest Covid relief bill may not be sent monthly and may not even start in July, IRS Commissioner Charles Rettig said. The $1.9 trillion American Rescue Plan signed into law by President Joe Biden on March 11 contained a significant
The highly contagious variant first identified in the U.K. likely accounts for up to 30% of Covid-19 infections in the United States, White House Chief Medical Advisor Dr. Anthony Fauci said Friday. The variant, called B.1.1.7, has also been reported in at least 94 countries and detected in 50 jurisdictions in the U.S., Fauci said
Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Visa — Shares of the payment processor fell 4.7% in midday trading after a report said the Justice Department is investigating whether business practices at the payment processor’s debit-card business is leading to unlawful market dominance. The Wall Street
Today, Zach Burks is the 28-year-old founder of Mintable, an NFT, or nonfungible token, marketplace that’s backed by billionaire Mark Cuban. But in 2012, Burks was a recent high school graduate heading off to serve in the U.S. Army. Before he left, he bought something called bitcoin at $5.50, and it defined the trajectory of
Norm Betts | Bloomberg | Getty Images Visa shares dropped sharply in midday trading Friday after a report said the Justice Department has opened an investigation into its debit card business and possible anticompetitive practices. The department’s antitrust division has started to collect information on whether Visa, the largest card network in the United States,
fstop123 | E+ | Getty Images Despite concern over rising bond yields, many investors see today as the best of times. The economy is growing and should get stronger as stimulus checks and child-care tax credits help millions of American families. More people are getting vaccinated daily, raising the prospect of a more open economy.
Getty Images As the government pushes millions of $1,400 stimulus checks out the door, some Americans could come up empty handed. The reason: overdue unpaid debts. The issue prompted Capitol Hill lawmakers to enter into a crossfire of sorts on Thursday over whether or not those checks can be garnished, as some looked to change
The European Union (EU) recently launched a consultation to reform the EU business tax system, which the European Commission considers is ill-equipped to face the challenges posed by globalization, climate change, digitalization, and population aging. This consultation could lead to proposals for taxes that raise general funds for the EU rather than individual member states.