Money

Unemployed workers are hit with another shock: Many owe the government money for health insurance

4 hours ago

According to the federal government, Ryan earned too much money on unemployment. It was more money than she would have made working as a preschool teacher, and it bumped her into a different income bracket that reduced her Affordable Care Act insurance subsidy. She’s desperate to keep health insurance in the middle of the pandemic and is trying to figure out how to pay the hefty bill.

“Where do I come up with all of this money to pay them back during the pandemic?” said Ryan, 50, who lives in Bergen County, N.J. “What did they expect us to do?

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Money worries are holding people back from getting the vaccine

10 hours ago

The Guardian

Biden’s FDR moment? President in New Deal-like push that could cement his legacy

The president is planning a multi-trillion effort to fix America’s infrastructure and kickstart the economy. But can he get Republicans on board? Biden in the White House in January. During his presidential campaign, Biden cast the infrastructure effort as an economic road map to revitalize American industry and help the nation compete with China. Photograph: Mandel Ngan/AFP/Getty Images Joe Biden came to power promising a New Deal-like economic agenda that would not only combat the Covid-19 pandemic, which has now claimed more than half a

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Don’t Pay Tax Penalties on Money You Took From Retirement Accounts

16 hours ago

If you’re using tax preparation software, the document should print out with the word “rollover” entered next to the zero, Mr. Slott said. Someone completing a paper form would need to write in the word “rollover.” That will treat the withdrawal as a nontaxable event. (Usually, R.M.D.s aren’t eligible for rollovers, but the I.R.S. made an exception for 2020.)

Some clients who returned their R.M.D.s have had pleasant surprises on their tax returns, Ms. Costa said. Because their taxable income is lower than it would have been, some were able to deduct medical expenses or even qualify for the federal

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Tech entrepreneur John McAfee charged with fraud, money laundering in cryptocurrency schemes

22 hours ago

Sources tell FOX Business’ Charlie Gasparino that the crypto industry is bracing for increased regulations as digital currency gains wider acceptance.

The Southern District of New York has charged tech entrepreneur John McAfee and his cryptocurrency team with fraud and money laundering conspiracy crimes related to two schemes that netted them $13 million.

McAfee, 75, and his executive adviser, Jimmy Gale Watson Jr., 40, are accused of crimes including conspiracy to commit commodities and securities fraud, conspiracy to commit securities and touting fraud, conspiracy to commit wire fraud, substantive wire fraud and conspiracy to commit money laundering for their alleged

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Aragon co-owner under investigation for money laundering

1 day ago

CHICAGO – A co-owner of the famed Aragon Ballroom is under investigation for allegedly laundering money.

According to a federal search warrant, exclusively obtained by WGN Investigates, the co-owner, Ivan Fernandez, and his associates took cash to clean on multiple occasions.

The money came from an unidentified source who purported to have drug money.

But in reality was working with the FBI.

“It makes me sad, knowing the history in that place and the folklore that went through it,” says Jack Riley, former head of the DEA in Chicago.

He was not involved in the matter and was briefed on

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Michigan GOP to probe Whitmer $155K ‘hush money’ deal as new severances emerge

2 days ago

LANSING — Michigan Gov. Gretchen Whitmer is under fire for an expensive separation and confidentiality deal with her former health department director that experts are calling a rare arrangement that may fuel distrust.

It’s “hush money,” according to legislative Republicans, who plan to investigate the $155,506 payout they contend was designed to ensure Robert Gordon will not discuss controversial COVID-19 orders that were developed behind closed doors. 

Gordon announced his abrupt and unexplained resignation on Jan. 22, exactly one month before he signed an agreement with the Democratic administration that paid him the equivalent of nine months salary and extended

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