Financial related news.
Many banks, credit card issuers and other lenders have promised to help those impacted by the coronavirus pandemic. They're offering to defer or reduce payments and waive interest charges and rebate fees for those who have lost jobs, had their hours reduced or otherwise lost income to the COVID-19 crisis. The help usually isn't automatic, [...]
Even if you don't plan to borrow a dime, a good credit record is valuable. Think of it like a household fire extinguisher: It's smart to have a good one even though you have no plans to use it. And your credit can influence your life in ways beyond borrowing. Here's why good credit is [...]
WASHINGTON (AP) — The national economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter. The Commerce Department reported Thursday that the gross domestic product, the broadest measure of economic health, fell at [...]
As a 58-year-old woman on disability, Robin Short of Wallingford, Conn., relies on her tax refund to catch up on bills. She filed her return electronically in February, opting for direct deposit so she could get her $773 refund quickly. She's still waiting, as are millions of others. The IRS is slowly resuming operations after [...]
WASHINGTON (AP) — The national economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter. The Commerce Department reported Thursday that the gross domestic product, the broadest measure of economic health, fell at [...]
BEIRUT — In troubled times, people have been known to hoard currency at home — a financial security blanket against deep uncertainty. But in this crisis, things are different. This time cash itself, passed from hand to hand across neighborhoods, cities and societies just like the coronavirus, is a source of suspicion rather than reassurance. [...]
As the nation enters a third month of economic devastation, the coronavirus is proving ruinous to state budgets, forcing many governments to consider deep cuts to schools, universities, health care and other basic functions that would have been unthinkable just a few months ago. Many states expect their revenue to plunge by 15 percent to [...]
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell warned Wednesday of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage. The Fed and Congress have taken far-reaching steps to try to counter what is likely to be a [...]
WASHINGTON (AP) — Returning Internal Revenue Service workers in Kansas City are being directed to a room well-stocked with face masks, while some other IRS offices were still telling staffers to buy or make their own as the Trump administration starts rolling out a location-based plan for returning more of the some 2 million federal [...]
The US government has distributed about 130 million economic impact payments to taxpayers in less than 30 days. The IRS anticipates sending more than 150 million payments as part of a massive coronavirus rescue package. The distribution has had some hiccups, including an overwhelmed website, payments to deceased taxpayers and money sent to inactive accounts. [...]