Where is My Tax Refund? 2024 Taxes IRS Status Update

Learn about your IRS tax refund status, including how e-filing and claiming credits like the child tax credit can affect your refund timing.

If you’re expecting a tax refund for 2024 for 2023 taxes and want to learn more about what to expect, we’ll provide you with valuable insights about the tax refund process for the filing season. Covers important topics like tax refunds, IRS processing times, filing methods, and the “Where’s My Refund?” tool. You’ll learn about the average tax refund amount, and when most refunds are issued for those who e-file or submit paper returns.

Also improvements to the IRS’s Refund Tracker tool for clearer updates, and special considerations for those claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC). Additionally, it discusses efforts to reduce backlog, the impact of bank processing times and holidays on refund receipt, and the legal requirements for holding EITC and ACTC refunds until mid-February. Whether you’re a beginner or an experienced taxpayer. New for 2024 for 2023 tax filing.

Where is My Tax Refund? 2024 Taxes IRS Status Update

Where is My Tax Refund? 2024 Taxes IRS Status Update

When do I get my refund? If you’re among the many anticipating a tax refund this year, you’re likely keen to know when it might arrive. With the economic fluctuations still impacting us, it’s natural to have some concerns about the timing and amount of your refund.

Last year, the average tax refund was nearly $3,000, reflecting the continued importance of this financial boost for many. Recent surveys indicate that a significant number of taxpayers are anxious about their refunds, with concerns about potential delays being quite common.

So, what’s the expected timeline for receiving your refund in 2024? The IRS maintains that most refunds are issued within 21 calendar days. For those submitting paper returns, the wait can be longer, closer to 4 weeks or more.

Where’s My Refund?

To check on your refund, the IRS offers the “Where’s My Refund?” tool on their website. E-filers can access their refund status 48 hours after submission, while paper filers might need to wait up to four weeks. This tool provides a personalized refund date once the IRS processes and approves your return, including notifications on receipt, approval, and dispatch of your refund.

Refund Tracker Tool

Also this year, the IRS has upgraded its “Refund Tracker” tool to offer more detailed and understandable status updates on tax refunds, especially for mobile device users. These enhancements aim to replace generic processing messages with clear, “plain language” updates, including alerts if additional information is needed from the taxpayer. This move by the IRS improves transparency and eases the tax refund tracking process for individuals.

Entering 2024, the IRS aimed to reduce its backlog, hiring additional staff to manage both residual and current year filings. Though, errors or discrepancies can still delay individual refunds by requiring further review.

For taxpayers claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) in 2024, refunds are expected by February 27 at the earliest if the return is filed electronically, the refund is directed to a bank account, and no issues are detected. The “Where’s My Refund?” tool will update by February 17 for early filers of these credits. It’s important to note that financial institutions’ processing times and federal/local holidays may influence the exact timing of the refund receipt.

Regularly check the “Where’s My Refund?” site for the most current information on your refund, and remember, any inaccuracies in your return can lead to delays. We wish you a speedy receipt of your refund this year!

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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Turn the Lights Back On | Money & Relationships

Learn how to navigate financial challenges and build a stronger relationship with your partner. Discover practical tips for effective communication, budgeting, and achieving financial harmony together.

Turn the Lights Back On | Money & Relationships

Turn the Lights Back On | Money & Relationships

Here, we’re diving into a topic that’s as timeless as it is timely—how money and relationships intertwine and influence each other, inspired by the latest from Billy Joel, “Turn the Lights Back on.” It’s a song that, at first listen, might just seem like another romantic ballad. But delve a little deeper, and you’ll find it’s a narrative that echoes the complexities and challenges we face in our relationships, especially when viewed through the lens of financial stability and independence.

Money & Relationships

Did you know that one of the top reasons relationships face challenges is due to financial issues? It’s not just about not having enough money; it’s about how we manage it, our attitudes towards it, and how it aligns or misaligns with our partners. Today, we’re going to explore how to navigate these waters, keeping our ship steady even when financial storms hit.

Let’s start by setting the scene with Billy Joel’s words: “Please open the door, Nothing is different, we’ve been here before.” This line, while simple, speaks volumes. It’s about recognizing patterns, the cyclical nature of issues that arise in relationships, and how they often circle back to financial stress and misunderstandings. It’s a call to action for openness and communication, essential ingredients for financial harmony in any relationship.

Never too Late

Moving through the song, we hit a chord with the realization that time and neglect can dim the lights on the aspects of our relationship that once seemed so clear. “I’m late, but I’m here right now… Time can make you blind, But I see you now.” This is a powerful reminder that it’s never too late to address the financial habits and attitudes that may be driving a wedge between you and your loved one. Whether it’s about budgeting together, understanding each other’s financial goals, or simply being transparent about your financial situations, turning the lights back on is about shedding light on these crucial aspects of your shared life.

As we venture further, we encounter the cold truth of “a long winter of indifference.” Here, Joel metaphorically describes the chilling effect financial indifference can have on a relationship. It’s not always the arguments about spending or saving that signal trouble; sometimes, it’s the silence, the lack of engagement or interest in our partner’s financial well-being and aspirations. The song urges us not to give up, echoing the resilience needed to foster a healthy relationship with open dialogue about money.

Importance of Money

We need to recognize that money is not just a tool for transactions but a fundamental aspect of our lives that affects our relationships deeply. Communication is key, so Start those conversations, no matter how uncomfortable they might feel at first. Understand each other’s financial backgrounds, beliefs, and goals. It’s about finding common ground and working together towards shared objectives, whether that’s saving for a big trip, investing in your future, or simply managing day-to-day expenses more effectively.

Second, remember that it’s okay to seek help. Whether it’s consulting with a financial advisor, using budgeting tools, or learning together through financial literacy resources, taking those steps can strengthen your bond and your finances.

And finally, keep the lights on. Stay aware and engaged with your financial situation and your relationship. Celebrate the wins, no matter how small, and support each other through the challenges. Like Billy Joel’s song suggests, it’s never too late to turn the lights back on, to see each other clearly, and to move forward together with renewed understanding and love.

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CHILD TAX CREDIT UPDATE 2024 | Bill Passes House

Learn about new IRS Guidelines and how the passage of the Child Tax Credit Expansion Bill through the House of Representatives impacts your tax filing strategy and refund for you and your family.

CHILD TAX CREDIT UPDATE 2024 | Bill Passes House

CHILD TAX CREDIT UPDATE 2024 | Bill Passes House

Breaking News, The House Passes the Child Tax Bill! In a world where tax laws often seem like a labyrinth, this recent development could be a game-changer for millions of families across the country. Today, we’re exploring what it means for you.

Here’s an essential update for everyone, especially parents: The Child Tax Credit Expansion Bill has successfully passed in the House of Representatives and is currently under consideration in the Senate. If enacted by President Biden, it will retrospectively affect the 2023 tax year, offering additional tax benefits to eligible taxpayers.

IRS Commissioner Danny Werfel has given crucial advice in light of these developments. He recommends not delaying tax filings because of anticipated changes to the child tax credit. The IRS intends to automatically update returns for those who file before the legislation is implemented. This means taxpayers do not need to take any extra steps, ensuring a more streamlined process for early filers.

This bill is a segment of a broader $78 billion bipartisan tax-break package. According to the Center on Budget and Policy Priorities, it is projected to significantly benefit many taxpayers. Despite these positive changes, National Taxpayer Advocate Erin Collins has cautioned that new legislation during the filing season could lead to refund delays.

As of now, the IRS is preparing for more than 146 million individual tax returns by the April 15 deadline. Commissioner Werfel’s guidance is clear: file when you’re ready, especially if you have all the necessary information for a complete and accurate return.

The key consideration for taxpayers is whether to file now or wait for tax software and filing methods to be updated with the new laws.

  • If you file now, you risk using the old rules, but the IRS will automatically update your return if the bill passes.
  • If you wait, you might file under the new rules without requiring IRS adjustments, but this could delay your refund.

For those not directly affected by the bill, such as individuals already receiving the full child tax credit per child or those without qualifying dependents, filing now is advisable.

For others, the decision depends on individual circumstances. Filing now might mean the IRS will need to adjust your return later, while waiting could ensure your return reflects the new rules but may delay your refund. Once again, the IRS Commissioner recommends filing now.

Stay informed and consider your options carefully.

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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INTEREST RATE UPDATE | How the Fed’s Decision Impacts Your Loans & Savings

Did the Fed lower or raise interest rates? Learn about the Federal Reserve’s latest interest rate decisions today and their impact on your money. Discover tips and strategies for navigating your financial planning in a changing economic landscape.

INTEREST RATE UPDATE | How the Fed’s Decision Impacts Your Loans & Savings

INTEREST RATE UPDATE | How the Fed’s Decision Impacts Your Loans & Savings

Have you heard about the Federal Reserve’s decision on rates? Curious about what it means for you?

Here, We’ll unpack the Federal Reserve’s latest interest rate decision and what it means for your savings, loans, and financial planning. Expect to gain some valuable insights on how these changes could impact your life and how to navigate them smartly.

Keeping Rates Steady

So, the big news is, the Federal Reserve, also known as the Fed, has decided to hold interest rates steady. That’s right, no more hikes for now. But before you start celebrating, they’ve also made it clear that they’re not ready to start cutting rates either. This is a big deal because it signals a shift in their approach towards managing inflation, which has been running above their 2% target.

Now, you might be asking, “What does this mean for me?” Well, let’s break it down. For starters, if you have a credit card, student loan, or any kind of debt, the interest rate you’re paying could stay the same for a while. And if you were hoping for lower rates to refinance your loans, you might need to wait a bit longer.

During their recent meeting, the Federal Open Market Committee, the folks who make these big decisions, removed some key language from their statement. This language previously showed their willingness to keep raising rates until inflation was under control. Now, they’re saying, “Hold on, let’s see how things play out.”

Fed Chair Jerome Powell emphasized this cautious approach in his news conference. He said they’re not looking for better data, but rather, a continuation of the good data they’ve been seeing. This means they’re watching the economy closely before making any more moves.

Increases not Ruled Out

Interestingly, even if not likely at this point, the Fed’s statement didn’t explicitly rule out more rate increases. They’re keeping their options open, depending on how the economy performs. This is a delicate balance, as they want to keep inflation in check without slowing down economic growth.

Speaking of the economy, the Fed noted that it has been doing quite well, with solid growth and progress on inflation. But they also recognize that the economic outlook is uncertain, and they’re keeping a close eye on inflation risks.

Long String of Rate Increases

Now, here’s where it gets a bit more technical. The Fed has been on a bit of a rollercoaster, raising rates 11 times and reducing their bond holdings by over $1.2 trillion. All these moves are part of their strategy to manage the economy and keep inflation in check.

So, what’s the takeaway from all this? Well, the Fed is basically trying to achieve what economists call a ‘soft landing.’ That means they’re trying to bring inflation down without crashing the economy. It’s like trying to land a plane smoothly – not too fast, not too slow.

Job Market Update

And here’s something interesting: recent reports suggest that while the job market is cooling down, wages aren’t rising as fast either. This could be a sign that inflation might start easing up without too much damage to the economy.

To wrap things up, the Fed’s decision to hold rates steady is a cautious move in an uncertain economic environment. For us, it means keeping an eye on our finances and being prepared for any changes in the economy. Remember, whether you’re saving, investing, or paying off debt, understanding interest rates can help you make smarter financial decisions.

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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How to Read your 1099-NEC Tax Form

Learn what is the 1099-NEC non-employee compensation form, in this guide for freelancers, self-employed, and independent contractors. Walkthrough the steps to accurately report your income and ensure compliance with IRS taxes and requirements.

How to Read your 1099-NEC Tax Form

How to Read your 1099-NEC Tax Form

You’ve just received a 1099-NEC form and you are wondering what in the world it means for you and your taxes. This isn’t just any document; it’s a vital piece of the financial puzzle for freelancers, independent contractors, and anyone receiving non-employee income. Today, we’re tackling the 1099-NEC form head-on. We’ll explain why it’s so important, and guide you through understanding every part of this form.

The 1099-NEC form is essentially a tax form used in the U.S. It’s for reporting income you earned as a freelancer or independent contractor. Think of it as the W-2 for the self-employed. If you’ve done any freelance work and earned more than $600 from a client, you’ll likely receive this form. It’s important because it tells the IRS exactly how much you made so you can report your income accurately.

Let’s break it down step-by-step. First, when you get this form, don’t panic. It’s actually pretty straightforward once you know what you’re looking at.

Step One: Look at the payer’s information. This is the box at the top of the form. This is the company or person who paid you. Again, check that their details are correct, especially the TIN (Taxpayer Identification Number). If there’s a mistake, reach out to them to get it fixed.

Step Two: check your personal info. Make sure your name, address, and TIN, or Social Security Number, number are correct. This seems basic, but you’d be surprised how often mistakes happen.

For Account number, this May show an account or other unique number the payer assigned to distinguish your account.

Non-Employee Compensation

Now, the most important part, box one – “Nonemployee Compensation.” This is where your income is reported. This number should match your records of what you were paid. If it doesn’t, it’s time to do some detective work. Maybe you forgot an invoice, or perhaps there’s an error.

The nonemployee compensation reported is generally reported as self-employment income and is usually subject to self-employment tax.

Here’s a tip: always keep your own records of income and expenses. It makes life so much easier when tax season rolls around. Trust me, your future self will thank you.

Next, Box 2. It must be checked if you sold $5,000 or more for resale or other purposes. The total amount isn’t reported on this form, but it’s included on your small business tax return.

Moving on to boxes four and five. Box four is where federal tax withheld is reported. It reports any federal income tax withheld from a backup withholding notice.

Generally, as a freelancer, you won’t see anything here because taxes aren’t typically withheld from your pay. But if there is a number, it means some of your income has already gone towards your tax bill.

State Taxes

Box five to seven might show state tax information, depending on where you live and work. This is any state tax withheld, and the total state income to the non-employee for the year. This is crucial if you’re in a state with income tax. Just like with federal taxes, make sure these numbers match up with your records.

So, what do you do with all this information? First, you’ll use it to fill out your tax return. The income reported on the 1099-NEC form gets added to any other income you’ve earned to figure out your total taxable income. It’s also a good time to think about deductions like business expenses. These can lower your taxable income and therefore your tax bill. Just remember, always keep receipts and records of your expenses.

I know, it can feel like a lot, but managing your finances is a powerful skill, especially when you’re carving your own path.

The 1099-NEC form is pretty straightforward once you understand what each part means. Make sure your personal and payer information is correct, double-check the income and tax withheld, and use this information to file your taxes accurately.

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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TAX FILING UPDATE | Child Tax Credit 2024 | Refund Delay

Should You File Tax Return? Learn how the 2024 tax law changes, including the Child Tax Credit updates, can impact your tax filing strategy and potential refund.

TAX FILING UPDATE | Child Tax Credit 2024 | Refund Delay

TAX FILING UPDATE | Child Tax Credit 2024

“Should you file your taxes now or wait?” This is the crucial question on the minds of taxpayers everywhere this season, especially with potential changes looming on the horizon. In today’s video, we’re zeroing in on these changes, with a special focus on the Child Tax Credit and the significant $78 billion tax-break bill.

Child Tax Credit Update

Firstly, for those of you with children, here’s an essential update: you may have been considering waiting to file your tax return, or until there was more clarity on some key political decisions regarding the Child Tax Credit. The situation, however, has evolved, and there are new opinions to consider.

Recently, IRS Commissioner Danny Werfel made a significant statement. He advised taxpayers now not to wait for Congress to enact changes to the child tax credit but to file when they’re ready. The IRS plans to ensure that taxpayers who file their returns before any legislation is enacted will receive the payments they’re eligible for without needing to take additional steps. This is an important consideration as it suggests a more streamlined process for early filers, should the legislation pass.

The $78 billion bipartisan tax-break bill, under consideration, would expand the child tax credit, potentially lifting as many as 400,000 children above the poverty line in the first year, as analyzed by the Center on Budget and Policy Priorities. A full House vote on this bill is expected soon.

However, National Taxpayer Advocate Erin Collins has cautioned that any legislation during the filing season could delay refunds, potentially until late in the year. House Ways and Means Republicans have mentioned that the IRS is prepared to update its systems about six weeks after the enactment of the bill. This is crucial information as it gives us an idea of the potential timeline for changes to take effect.

As of now, the IRS expects more than 146 million individual tax returns to be filed by the April 15 deadline. With this in mind, Commissioner Werfel’s advice is clear: “Taxpayers should file when they’re ready to file and as soon as they believe that they have a complete and accurate return, they should file.”

What should Parents do?

So, what’s the takeaway for parents? While it’s still worth keeping an eye on the developments, you might want to consider Commissioner Werfel’s advice and file when you’re ready, especially if you have all the necessary information for a complete and accurate return. However, it may still be worth waiting a bit before filing your tax return to see how this develops, and to make sure you don’t have to amend a return later.

If the bill doesn’t affect you, you may file your tax return now. This includes those already receiving the full child tax credit of $2,000 per child and those without qualifying children or dependents.

If you might benefit from the bill, then you need to decide what to do based on your own situation. Filing now risks missing out on potential immediate benefits if the bill passes. Waiting, on the other hand, could delay your refund unnecessarily if the bill doesn’t pass.

That’s the latest for now. I hope this information helps you make a more informed decision about your taxes this year. Remember, staying informed is key, especially when it comes to financial matters.

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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Loud Budgeting: New Saving Money Trend

What is Loud Budgeting? Learn about the latest financial social media trend for transparent money management. Discover how to balance savings and social spending, using tools like budgeting apps and goal-specific accounts.

Loud Budgeting: New Saving Money Trend

Loud Budgeting: New Saving Money Trend

Have you heard about the latest trend sweeping through TikTok and social media? It’s called “loud budgeting,” and trust me, it’s something you’ll want to know about, especially as we’re all looking for ways to reach our financial goals in this new year.

What is Loud Budgeting?

So, what exactly is “loud budgeting”? Picture this: you’re invited to dinner with friends, but you know it’ll hit your wallet hard. Loud budgeting is about being upfront and saying, “I can’t join because it doesn’t align with my financial goals right now.” It’s not just about saving money, it’s about being vocal about it.

Now, we’ve all been there, right? The temptation to join in on that brunch with friends or that trip everyone says will be unforgettable. But, if you’re like many of us, thinking about the financial impact makes you hesitate. This is where loud budgeting comes into play. It empowers you to prioritize your financial goals without feeling guilty or pressured.

But does loud budgeting really work? Experts say it’s about finding a balance. While prioritizing savings is essential, we also need activities that bring joy, It’s all about balance. And how do you strike this balance? By being organized and tracking your goals. Consider a savings account that allows you to set aside funds for specific goals or use budgeting app to help make informed decisions about your finances.

Now, let’s talk about the bigger picture. Loud budgeting isn’t just about saving money; it’s a shift in how we view success and coolness. It’s a response to the constant push towards spending and luxury we see on social media. The concept, popularized by TikTok influencer Lukas Battle, is a playful yet effective way to be transparent about your financial limits. It’s like saying, “I’ve got $6 a day to live on” – a straightforward, humorous approach to financial responsibility.

Moreover, loud budgeting isn’t a new idea. It’s been around for years, experts advocating for financial openness, especially among family and friends. It’s about putting your financial health first, akin to the idea of filling your own cup first.

So, how can you start practicing loud budgeting? It’s simpler than you think. Be honest and upfront about your financial limits. It’s about removing the stigma and shame associated with not being able to afford certain things and focusing on what really matters – your financial stability.

So, next time you find yourself pondering over an invitation that could dent your budget, remember that it’s okay to be loud about your financial goals. Who knows, you might just inspire others to do the same, and together, we can redefine what it means to be successful and cool.

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Form 1040 2023 Married Filing Jointly | Dependents Example Tax Filing

2023 IRS Form 1040 for married couples filing jointly with dependents, covering everything from income reporting to tax credits, including the child tax credit. Walkthrough the process, ensuring accurate filing and understanding of potential refunds or taxes owed.

Form 1040 2023 Married Filing Jointly | Dependents Example Tax Filing

Form 1040 2023 Married Filing Jointly

You’ll learn how to navigate through various sections, including personal information, income reporting, and choosing between standard or itemized deductions. The process covers accurately reporting W-2 income and additional incomes like interest or dividends. It also highlights the importance of understanding tax credits, for children, such as the Child Tax Credit, and the steps to determine tax liability using tax tables.

Additionally, it discusses the significance of correctly filling out the refund or amount owed section and ensuring all information is double-checked for accuracy. This resource is particularly valuable for those with W-2 income, aiming to simplify the tax filing process. For complex situations, we suggest consulting a tax professional.

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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Form 1040 2023 | IRS Tax Filing | Single No Dependents

The 2023 IRS 1040 form explained, including how to report income, claim deductions, and understand your tax bracket for accurate filings. Walkthrough the steps for choosing between standard and itemized deductions, and the methods for calculating your refund or what you owe.

Form 1040 2023 | IRS Tax Filing | Single No Dependents

Form 1040 2023 | IRS Tax Filing | Single No Dependents

This guide provides essential insights into the 2023 IRS 1040 form, for the 2024 tax season, crucial for federal income tax management. It includes detailed instructions, covering personal information, W-2, and freelance income, emphasizing the importance of understanding tax liabilities and refunds as per the latest IRS 1040 form updates.

Focusing on single W-2 earners, it explains filing status 1040, income reporting with W-2s and 10 99s, and the significance of accurately reporting taxable interest 1040 and capital gains 1040. The guide helps decide between standard deduction vs itemized, vital for tax deductions 1040, and demonstrates calculating adjusted gross income 1040 for accurate tax refund calculation and tax payment 1040 form.

Highlighting e-filing 1040 for convenience, it’s invaluable for varied taxpayers, including the self-employed, informing them about the IRS 1040 deadline and tax brackets. For complex cases, it advises professional consultation, ensuring compliance and understanding of all aspects of the 1040 form.

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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eBay Layoffs 2024 | Navigating the Evolving Tech Job Market 

Learn about the recent eBay layoffs and their impact on the tech industry and discover strategies for adapting your career in the ever-changing job market of 2024.

eBay Layoffs 2024 | Navigating the Evolving Tech Job Market

eBay Layoffs 2024 | Navigating the Evolving Tech Job Market

eBay is cutting 9% of their workforce, a whopping 1,000 jobs! This isn’t just corporate drama; it’s a window into the volatile tech world that affects us all. Here, we will unpack what this means for you – whether you’re job hunting, climbing the career ladder, or just keeping an eye on the market. Stick around as we delve into how such shifts shape our professional landscape and arm you with strategies to stay adaptable. Don’t miss out on these crucial insights.

Let’s start with the basics. eBay, a giant in the online marketplace, has decided to trim its workforce to become more “nimble.” This move isn’t isolated; it’s part of a trend we’ve seen with other tech giants. They’re all resizing their teams. But why now? eBay, after all, reported a solid profit of $1.3 billion last quarter. So, what’s driving this need for change?

Here’s where it gets interesting. eBay’s CEO, Jamie Iannone, talks about making the company more agile, able to make quicker decisions, and gearing up for sustainable growth. That sounds great on paper, but what does it mean for the people behind these numbers? These are individuals who’ve contributed to eBay’s culture and community, and now, they’re facing a tough goodbye. It’s a stark reminder of the volatility in the tech industry and the real human impact behind corporate decisions.

But let’s delve deeper. eBay’s move to downsize isn’t just about cutting costs. It’s a strategic pivot. With the tech industry facing a challenging economic environment, companies like eBay are feeling the pressure. Their headcount and expenses have grown faster than their business. This scenario might sound familiar to many of us – managing our personal budgets, trying to align our expenses with our income. In eBay’s case, they’re restructuring to improve their customer experience and meet global needs more effectively.

Now, what does this mean for us? First, it’s a wake-up call about the unpredictable nature of the job market. Job security isn’t what it used to be, even in large, established companies. It’s a reminder to always be adaptable, to keep learning and growing. For eBay, adapting means focusing on areas that show growth and customer satisfaction. For us, it might mean continuously updating our skills or being open to new opportunities.

But here’s a silver lining. These changes, though tough, are aimed at making eBay stronger and more resilient. It’s a lesson in resilience for all of us. When faced with challenges, whether it’s a personal setback or a global economic shift, the ability to adapt and find new paths forward is crucial.

So, as we wrap up, let’s think about this: How can we apply the lessons from eBay’s restructuring to our own lives? Whether it’s being more agile in our career choices, or reassessing our financial strategies, there’s a lot we can learn from these corporate shifts. And most importantly, let’s remember the human element in all of this. Behind every corporate decision, there are people, just like you and me, navigating these changes.

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Free Tax Filing 2024 | IRS Free File

How to file taxes for free in 2024 with IRS Free File. Learn about the program and its free tax services for efficient federal and state tax filing, including Form 1040, Form 1040-SR, Schedule C, and other tax forms.

Free Tax Filing 2024 | IRS Free File

Free Tax Filing 2024

Did you know that you can file your taxes for free, and it’s easier than you might think? That’s right, with the IRS Free File program. Here, we’re going to break down exactly who qualifies for this amazing program and how to make the most of it. We’ll walk through the step-by-step process, demystify the eligibility criteria.

So, what is the IRS Free File program? It’s essentially a partnership between the IRS and several tax preparation companies. Here’s the deal: if you’re making less than $79,000 a year in adjusted gross income, you’re eligible to use a variety of tax preparation software options for free. Yes, you heard that right – free! This means you may be able to file your taxes without spending extra on tax preparation services.

Now, about that income limit. Whether you’re single, married, or filing jointly, that $79,000 threshold applies across the board. But hey, if your income is above that, don’t worry, we’ll talk about some other options later on.

How to Access Free File

Let’s jump into how you can access this program. Just head over to the IRS website. Within the Free File program, there are two main options. The first one, which is the focus of our talk today, is the guided tax preparation. The second option is free fillable forms, which is great for those who are comfortable filling out tax documents on their own.

If you’re opting for the guided tax preparation, you’ll find a helpful guide on the IRS website. This guide will ask you some simple questions to figure out which software will work best for you. It’s like a personalized tax assistant.

But what if you want to explore all the options yourself? You can! Just go to ‘Browse All Trusted Partners’ on the IRS website. This allows you to filter through the software options to find what best suits your needs, including free state filing options.

A quick note: while the Free File program covers federal taxes, some software options also cover state returns, which is super helpful.

Now, you might be thinking, “What if I don’t like any of these programs or my income is above the limit?” No worries! Just Check out our other videos on filing taxes and filling the form 1040.

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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Sports Illustrated Staff Layoff | Understanding the Impact

Explore the impactful story behind Sports Illustrated’s massive layoffs and understand the broader implications these changes hold for the future of media and journalism.

Sports Illustrated Staff Layoff | Understanding the Impact

Sports Illustrated Staff Layoff | Understanding the Impact

What’s happening to Sports Illustrated? Have you ever wondered what happens when an iconic magazine faces the brink of collapse? Today, we’re diving into the shocking story of Sports Illustrated and its massive layoffs, a tale that’s not just about a magazine, but a mirror to the changing world of media.

Layoffs and the Economy

Now, here’s something you might not know: layoffs aren’t just about job losses; they’re a reflection of the changing tides in industries and economies, affecting not only those directly involved but potentially all of us in the long run. Here, we’re going to look at what led to this situation, the broader implications for the journalism industry, and what it means for future media trends. This is information you don’t want to miss, especially if you’re looking to navigate your own career in these unpredictable times.

The recent layoffs at Sports Illustrated, is a development that’s more than just a headline; it’s a reflection of the seismic shifts happening in the media landscape. This is huge, considering how iconic SI has been in sports journalism.Now, Let’s start by looking at what led to this situation. The Arena Group, the publisher behind Sports Illustrated, announced a significant reduction in its workforce, amounting to around 100 employees. This move comes as the company grapples with substantial debt and missed payments. It’s part of their cost-cutting measures, but what does this mean for the magazine and its legacy? It’s startling to think that the same magazine that published groundbreaking stories and photos, is now in a state of flux.

But there’s more to this story. Authentic Brands Group, the parent company of Sports Illustrated, is now pulling the plug on Arena’s license to publish SI. This could mean the layoffs of all union-represented staff at Sports Illustrated. Imagine, a publication that has been a staple in our lives for nearly 70 years, now facing such uncertainty. It’s a stark reminder of how quickly things can change in the business world.

Now, many of you may remember reading issues of Sports Illustrated, feeling both inspired and intimidated by the level of talent on those pages. These writers weren’t just journalists; they were artists, painting vivid pictures with their words. Sports Illustrated was more than just a magazine; it was a gateway to the world of sports, igniting passions and inspiring readers like you and me. For many, it was Sports Illustrated that made reading enjoyable, turning a chore into a hobby.

It’s these stories that made SI so special. But now, we’re possibly seeing the impact of greed. The magazine went from sparing no expense to scrutinizing every penny. It’s a shift that’s not just affecting Sports Illustrated, but the entire realm of journalism.

Impact on Journalism

This brings me to a broader concern. The world of journalism, especially local journalism, is in a precarious state. We’ve seen family-owned newspapers being bought out and stripped down by private investors. It’s a symptom of a larger issue: the struggle to find sustainable financial models for quality journalism.

Standards are changing, and not necessarily for the better. The rigorous editing process that was once a hallmark of great journalism is being compromised. We’re at a crossroads, where the value of human insight and storytelling is being weighed against the efficiency and cost-effectiveness of technology.

So, what’s the takeaway from all this? It’s a reminder that the things we cherish, like quality journalism and iconic publications, need our support more than ever. It’s also a wake-up call for us to be discerning about where our news comes from, and to value the human element in storytelling. Sports Illustrated’s situation is a reflection of broader challenges facing the media industry, challenges that affect us as readers, and as a society.

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Categories Careers, Earning Money, Job Survival
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