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Update on Stimulus Checks as of Tuesday April 7th-Stimulus Package

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Filed unemployment on your tax return? IRS is recalculating the amount you owe, and you MAY receive another refund check!

  Normally, any unemployment compensation someone receives is taxable. However, a recent law change allows some recipients to not pay tax on some 2020 unemployment compensation. The IRS will automatically refund money to eligible people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan. These refunds are expected to begin in May and continue into the summer. Under the new law, taxpayers who earned less than $150,000 in modified adjusted gross income can exclude some unemployment compensation from their income. This means they don’t have to pay tax on some of it. People who are married filing jointly can exclude up to $20,400 – up to $10,200 for each spouse who received unemployment compensation. All other eligible taxpayers can exclude up to $10,200 from their income. Information for people who already filed their 2020 tax return This law change occurred after some people filed their 2020 taxes. For taxpayers w...
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HELP!! The Government Took My Tax Refund

Has the IRS intercepted your tax refund?  The truth is that this happens to people every year!  Why did this happen to you, and what can you do about it? Reasons Why Your Refund has been Offset There can be several reasons why your refund has been has been or will be intercepted. Past-due federal tax; State income tax; State unemployment compensation debts; Child support; Spousal support; and Federal non-tax debt, like student loans. Find Out Why MY (OUR) Tax Refund was Offset If you are married filing a joint return, the IRS will take your refund if your spouse has any of the above mentioned past due debts! Yes-Your spouse. However, there is relief for this.  You can complete and mail an injured spouse allocation IRS Form 8379 follow this link →   https://www.irs.gov/pub/irs-pdf/f8379.pd  to complete the form.  Follow this link for instructions on where to mail your form → https://www.irs.gov/pub/irs-pdf/i8379.pdf . This form will infor...
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Secret Tip that will increase your credit score within 30 days!

Hello all of my beautiful people.  I hope that this blog reaches you in limitless spirits! So I have a friend (whom shall remain nameless) that is in a hurry to purchase a house that she has been renting.  The owners of the house are ready to sell as the entire area has increased in property value. She's a veteran and has access to a VA Home Loan but there is only one problem; her credit score.  This is a really close friend of mine, almost like a sister. So, she came to me asking how she can bump up her credit score in a hurry.  I said, "oh that's easy, I'll add you as an authorized user to a few of my credit cards". What does this mean you may ask?  Real life example: I have credit cards with high limits that I do not use (because I'm fabulously frugal right ❤) .  By holding credit cards with high limits and zero balances, it contributes to my modestly high credit score due to low utilization.  Credit Utilization is you having access to...
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