- Electric Vehicle Credit Undergoes Major Overhaul
- With the recent passage of the Inflation Reduction Act of 2022, the electric vehicle credit has undergone some major changes. Although most of the changes take effect in 2023, to qualify for the current credit, vehicles purchased after August 15, 2022, are required to meet the final assembly requirement of the new law.
- Video Tips: Receiving A Phone Call from the IRS? Beware of Scammers!
- Scammers can pose as IRS representatives in order to extract money from unsuspecting victims. Learn the different methods that the IRS uses to contact taxpayers to protect yourself.
- IRS Providing Penalty Relief to 1.6 Million Taxpayers
- To help struggling taxpayers affected by the COVID-19 pandemic, the IRS has issued a notice, which provides penalty relief to most people and businesses who file or filed certain 2019 or 2020 returns late.
- Will You Benefit from Biden’s Student Loan Relief?
- On August 24, President Biden announced a three-part plan to deal with student loan debt which includes, among other things, $20,000 in loan relief to borrowers with loans held by the Department of Education whose individual income is less than $125,000 ($250,000 for married couples) and who received a Pell Grant. Borrowers who meet those income standards but did not receive a Pell Grant in college can receive up to $10,000 in loan relief. Current students with loans are eligible for this debt relief.
- Video Tips: Are You Prepared for the Recession?
- With concerns about a recession on the rise, now is the time to start thinking about how you would weather an economic downturn.
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