What was the punishment if your taxes were not paid?
Failure-to-pay penalty: If you don’t pay the taxes you owe by the deadline, the IRS can penalize you 0.5% of the unpaid balance every month, up to a total...
Category: Updates
Can you close a fixed rate bond early?
In some cases, providers may allow you to exit your fixed-rate bond early, but this is at their discretion – you’ll need to check the terms and conditions...
Is effective interest rate same as effective annual rate?
Effective interest rate (accountancy) In accountancy the term effective interest rate is used to describe the rate used to calculate interest expense or i...
Is IRS accepting tax returns by mail?
We’re open and processing mail, tax returns, payments, refunds and correspondence. However, COVID-19 continues to cause delays in some of our services. Ou...
At what salary do you not get a tax refund?
The minimum income amount depends on your filing status and age. In 2020, for example, the minimum for single filing status if under age 65 is $12,400. If...
Can my Medicaid be transferred to another state?
Technically, there’s no formal program or option that allows you to transfer your Medicaid coverage from one state to another. Therefore, to transfer your...
How can we help underfunded schools?
Do a little homework to learn more about needs of the underserved and underfunded schools in your area. Reach out to a school’s administration office to f...
What are the best financial newsletters?
Best Financial Newsletters You Should Subscribe To The Hustle. Clark Howard. DailyWorth. The Minority Mindset. Jill on Money. Frequency: Daily (weekdays o...
What is a cash accrual?
Cash accounting. Accrual accounting. Recognizes revenue when cash has been received. Recognizes revenue when it’s earned (eg. when the project is complete...
Does payoff amount include interest?
Your payoff amount also includes the payment of any interest you owe through the day you intend to pay off your loan. The payoff amount may also include o...
