Personal finance

People can’t file their income taxes fast enough and COVID-19 has put ‘financially vulnerable’ Americans on even shakier footing

Personal Finance Daily

Published: Feb. 26, 2021 at 5:58 p.m. ET

Friday’s Personal Finance Stories

Happy Friday MarketWatchers. Don’t miss these top stories:

Americans can’t file their income taxes fast enough — but they should brace for some unwelcome news in their 2020 refunds

The IRS has received approximately 21% more individual returns than the agency received last year by Feb. 7, which was 12 days into the tax season last year.

‘It can be super, super easy, or it can be insanely complicated’: Need to report bitcoin trades to the IRS? Read this first.

For the first time, the IRS is asking about virtual currency transactions on the first page of its main income tax form.

COVID-19 is changing college application strategies — and lowering the odds of getting into top schools

Applications for early admission, long seen as the easier path to elite schools, soar, and so do rejections.

Millennials don’t want their vacation homes to be McMansions

Jamie Mackay, a real estate developer with properties in Wyoming and Montana, was shopping for land in 2018 to expand into Park City, Utah. He thought he would just recreate the formula of his Fireside Resorts, which combine camping, a luxury hotel suite and a private vacation rental cabin into one.

And now oat milk is coming for your beer, too

Craft brewery Dogfish Head has introduced Hazy-O! beer, a brew made with the popular plant milk

‘She is a financial idiot and partier’: I loaned my sister $4,780 for a lawyer during her divorce. I am still chasing her to repay me

‘She earns $90,000 to $95,000 a year, but this year’s excuse is that she is in arrears for child-support payments.’

My sister put our mother in a nursing home, where she died of COVID-19. Should I take legal action against her or the care facility?

My sister put our mother in a nursing home, where she died of COVID-19. Should I take legal action against her or the nursing home?

COVID-19 has put ‘financially vulnerable’ Americans on even shakier footing

Households making less than $30,000 a year are over twice as likely as those making more than $60,000 to report a decline in their personal finances.

Weekend reads: How to select the best SPACs so you don’t get burned

Also, rising interest rates, tax-time tips and stock picks.

I’m 28, have no debt, a 401(k), Roth IRA and $45K and live in California. Should I save for a house or buy a Tesla Model 3?

‘I believe I can buy the car and strap down, and save more aggressively to replenish the funds.’

Elsewhere on MarketWatchRecession takes hold in Europe as pandemic is on the rise in some regions

The continent’s economic woes could worsen with the persistent problems of the bloc’s COVID-19 vaccination campaigns.

Progressive hopes for a radical SEC agenda face a unicorn problem

Democratic hopes of an activist financial regulatory agenda will have to contend with the growing importance of private companies that are not subject to most reporting requirements, and experts say for new financial regulations to have the widest impact, the SEC will have to move to greatly expand the universe of firms required to follow its most stringent regulations.

Small businesses benefit when wages rise

An increase in the minimum wage would increase consumer spending—and business revenue- by billions of dollars.

Consumers have already gorged themselves on durable goods such as TVs, taking away a main channel for stimulus to supercharge the economy going forward

Consumers have already gorged themselves on durable goods, and will have reduced appetite for face-to-face services.

Applications for early admission, long seen as the easier path to elite schools, soar, and so do rejections.

Source: https://www.marketwatch.com/story/people-cant-file-their-income-taxes-fast-enough-and-covid-19-has-put-financially-vulnerable-americans-on-even-shakier-footing-2021-02-26

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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