The Secure Act of 2019 gives heirs two options: they can either start a new account in an IRA or an approved employment plan, or they can withdraw the money in one single sum and pay taxes on it.
The IRS plans to go totally digital documents by 2025, meaning most taxpayers will be able to digitally send a bevy of tax documents and other communications to the agency next filing season. Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel unveiled the “paperless processing initiative” on Wednesday in an effort to lower the…
The study, conducted by the HEA Group and Student Defense, a nonprofit advocating for students’ rights, found that around one-third of graduate school programs owe more on their loans than they initially borrowed five years after completing their programs. Graduate school programs have been under scrutiny due to a new analysis revealing that some students…
The OPEC+ Joint Ministerial Monitoring Committee meeting, scheduled for this Friday, is expected to announce an extension in oil benchmarks, which could help maintain crude oil prices at these improved levels. Oil Benchmarks, WTI crude oil, and Brent crude oil are holding steady at crucial levels last witnessed in mid-April due to the anticipated production…
While undergraduate degrees continue to prove financially beneficial for most individuals, new research highlights that many graduate programs are leaving students burdened with more unmanageable debt than they can handle, especially when their incomes fail to cover the balance. Amid the ongoing debate on addressing the student debt crisis in the United States, a concerning…
The distribution will continue throughout the month, helping those in need access food and groceries. Starting tomorrow, recipients of the Florida SNAP Benefits will receive their monthly payments for August The distribution of food stamps, a vital form of assistance, takes place from the 1st to the 28th of each month in the Sunshine State….
The White House has spent much of the summer setting out its economic argument in speeches, appearances, and memos, all in preparation for Biden’s reelection effort in 2024. According to the president, Bidenomics 101 is about building the economy “from the middle out and bottom up” rather than top down. It is set in contrast to…
The Biden administration launched a beta application for its new student loan repayment plan, providing borrowers an early opportunity to join the program. The SAVE plan is an income-driven repayment program or IDR, that ties a borrower’s monthly payment to their income, lessening their financial load. However, IDRs have had several significant drawbacks, such as enabling interest…
This initiative comes as a replacement after the U.S. Supreme Court rejected Biden’s earlier proposal for student loan forgiveness in June. The Biden Administration has introduced a new income-driven student loan repayment plan known as the SAVE Plan According to CNN’s report via ABC 11, the student loan repayment plan has the potential to significantly…
This move comes just a month after the Supreme Court rejected their initial proposal. The White House has initiated a new attempt at a student debt forgiveness plan, launching a test website called the Saving on a Valuable Education (SAVE) Plan The Department of Education announced that the SAVE Plan website is now accepting applications,…