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IRS adds ‘important update’ for free Direct File pilot as federal tax deadline approaches

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[ad_1] D3sign | Moment | Getty Images With one week until the April 15 federal tax deadline, the IRS has released an “important update” for Direct File, the agency’s free tax filing program. Since March 12, the pilot program has been fully open for certain filers in 12 states, and Direct File now allows users … Read more

These are the 5 groups of borrowers eligible for Biden’s new student loan forgiveness plan

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[ad_1] 1. Borrowers with ‘runaway interest’ More than 25 million borrowers owe more than they originally borrowed in federal student loans, because of accrued interest charges, according to the Biden administration. As part of this plan, those borrowers could get up to $20,000 of unpaid interest on their debt forgiven, regardless of income. Certain low- and … Read more

Watch: President Biden announces new student loan forgiveness plan

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[ad_1] [This stream is set to start at 2:15 p.m. ET.] President Joe Biden will announce on Monday the details of his new student loan forgiveness plan, which could affect tens of millions of Americans. Immediately after the Supreme Court rejected Biden’s first attempt at wide-scale education debt cancellation, the president said he would seek … Read more

Here’s how to make key college decisions amid FAFSA delays

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[ad_1] Problems with the new Free Application for Federal Student Aid have left many students in a bind. In an early April update, the U.S. Department of Education said the delivery of some FAFSA applications would be further delayed due to ongoing issues with applicants’ tax data.   “We are working hard to address these challenges and ensure … Read more

Biden’s new student loan forgiveness plan could erase up to $20,000 in interest for millions of borrowers

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[ad_1] U.S. President Joe Biden waves as he departs for Baltimore from the White House in Washington, U.S., April 5, 2024.  Kevin Lamarque | Reuters President Joe Biden will unveil his new plan to forgive student debt on Monday, less than a year after the Supreme Court blocked his initial attempt. Biden wants this aid … Read more

Biden will announce new student loan forgiveness plan impacting tens of millions of Americans

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[ad_1] President Joe Biden on Feb. 21, 2024, visiting a library in Culver City, California. Irfan Khan | Los Angeles Times | Getty Images President Joe Biden will announce on Monday a new, sweeping student loan forgiveness plan, which could benefit tens of millions of Americans. Biden will share the details of the aid package … Read more

how to avoid tcs: Will Budget 2024 reduce 20% TCS for taxpayers, levy TCS on credit card forex payments?

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[ad_1] Will Budget 2024 reduce Tax collection at source (TCS) from 20%? Or bring a credit card under the ambit of TCS? Experts are waiting with bated breath as Finance Minister Nirmala Sitharaman is all set to present her final Budget on February 1, 2024, before the Lok Sabha Elections. Let’s take a look at … Read more

Simplify these procedures for individual income tax payers in Interim Budget 2024: CII – Interim Budget 2024

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[ad_1] The suggested categories of payments could be as follows:Salary: TDS rate at Normal slab ratesLotteries and horse race winnings: TDS rate at 30%All other payments: TDS rate at 2% The suggested “negative list” of payments may illustratively include the following:1. Payments to senior citizens2. Exempt income payments (e.g., payments to agriculturists, North-Eastern citizens)3. Purchases … Read more

Budget 2024 could expand AIS to include 6 more incomes of individuals

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[ad_1] The government introduced the Annual Information Statement (AIS) in Budget 2021. The objective is to make it easier for individual taxpayers to check their financial information at one place and match it with what they are filling in their income tax return. The statement gives an overall view of financial figures such as interest, … Read more