Personal finance

Employee Linda Tarkenton holds a blank U.S. Treasury check before it’s run through a printer at the U.S. Treasury printing facility in Philadelphia. Getty Images People who receive benefits through either the Department of Veterans Affairs or Supplemental Security Income who have children have a new deadline if they want to get all of the

When a loved one passes away, it’s not unusual for the person to leave some unpaid debt behind. The question for the surviving spouse or other heirs is often: What happens to those obligations? Generally speaking, it depends on both the type of debt and applicable state laws. When someone dies, their assets — no

Images By Tang Ming Tung The financial hardships many Americans are now facing may have an unintended effect on their children — it may actually help their kids develop a money mindset very early. Just like children of the Depression emerged as frugal spenders, those experiencing the coronavirus pandemic may also learn important financial lessons.

Getty Images More than 88 million individuals received a stimulus check from the IRS in the last three weeks, according to data from the federal agency. The Treasury Department and the IRS have distributed a total of $157.9 billion in so-called Economic Impact Payments. The federal government began depositing the cash into taxpayers’ bank accounts

Wild market swings have taken a toll on retirement savers. The average 401(k) balance plunged 19%, to $91,400, in the first quarter of 2020, according to a new report by Fidelity Investments, the nation’s largest provider of 401(k) plans. The financial services firm handles more than 30 million retirement accounts altogether. The average individual retirement

(Credit: Getty | PeopleImages) When the government launched a web tool on April 15 so that eligible Americans could find out the status of their coronavirus stimulus payments, Jake Koepke was eager to log on. But the central Wisconsin resident, 34, was disappointed to find himself shut out after three failed attempts to get onto

eclipse_images If you’re awaiting a federal stimulus payment and you haven’t filed tax returns, beware: Hackers have set their sights — and sites — on your $1,200 check. Scammers have set up more than 180,000 coronavirus-themed websites in an attempt to steal data or misinform consumers, according to data from Checkphish by Bolster. The security

The IRS isn’t processing paper returns right now as they deal with distributing coronavirus stimulus checks. While that’s not an issue for most taxpayers, who currently have until July 15 to turn in their 2019 federal income tax returns and pay any amounts owed, it is a big problem for people who have to file

U.S. households that already were less prepared to weather a financial storm are getting hit hardest from the recent rash of job losses across the country, research shows. Adults with lower income (under about $37,500 annually) and middle income ($37,500 to $112,600) comprise a greater share of those who have lost their job or taken

The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. Angus Mordant | Reuters Stay-at-home orders aren’t only hitting mom-and-pop businesses. They’re also a driver behind the cratering price of oil. For example, the cost of a futures contract for

The coronavirus crisis has already changed the way this year’s crop of high school seniors are thinking about higher education. And community colleges across the country are preparing accordingly.  “Under the circumstances, families may turn to us as the gateway of opportunity, and we’ve been ready,” said Michael Baston, the president of Rockland Community College in Rockland

Dan Brownsword | Getty Images As the coronavirus pandemic proves financially devastating, many Americans are trading long-term goals for short-term security. That leaves 529 college savings plans in jeopardy. “Short-term cash needs are extremely important and they may reduce or eliminate the ability to make a longer-term investment,” said Young Boozer, chair of the National

freemixer | E+ | Getty Images Social Security beneficiaries who do not typically file tax returns have until tomorrow to tell the government to include their dependent children in their stimulus payments.  The U.S. government is in the process of deploying one-time checks of up to $1,200 to Americans who qualify, including those receiving Social

Kupicoo | Getty Images If you’re wondering about getting any tax breaks on your work-from-home expenses, you are probably out of luck. Blame the IRS. “Even if you are required to work remotely due to the quarantine, unfortunately employees are not allowed to take a tax break for any home-office expenses,” said Gail Rosen, a

Raymond Boyd Some big restaurant chains have gotten called out in recent days for using a loophole in the $2.2 trillion coronavirus relief law to access loan money earmarked for smaller businesses. Potbelly Sandwich Shop, for example, got a $10 million loan from the Paycheck Protection Program — the upper lending limit. Ruth’s Chris Steak House got

Pascal Broze | Getty Images  Millions of Social Security beneficiaries are eligible for coronavirus stimulus payments. But even as the first checks have started to go out, many still have questions as to when and how they will receive their money. Most individuals who receive Social Security or Supplemental Security Income (SSI) benefits are eligible

Close up of a mature man paying bills Geber86 What if it never comes back? Notorious gangster Al Capone attempts to help unemployed men with his soup kitchen “Big Al’s Kitchen for the Needy.” The kitchen provided three meals a day consisting of soup with meat, bread, coffee, and doughnuts, feeding about 3500 people daily

One conundrum that some investors face is how to capture the safety of bonds while trying to get in on riskier stock-like returns. Enter convertible bonds. These hybrid investments are corporate-issued bonds that pay interest — generally higher than U.S. Treasury rates but lower than those on regular corporate bonds. After a predetermined length of

miodrag ignjatovic Younger Americans are eager to eat and drink out in public again. They will, however, likely shy away in large numbers from festivals, sports venues and international trips for a while once conoravirus lockdowns are lifted across the U.S., perhaps preferring to shop online from home while waiting to see how vaccine trials

Empty desks and chairs in a high key cafeteria room with no people during corona virus pandemic. Giulio Fornasar Samantha Costanza was furloughed in March by her company, which designs merchandise for Broadway shows, all of which are now closed due to the coronavirus pandemic.  “I had not heard of the term ‘furlough’ before, and assumed