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The April 17 tax filing deadline is less than a month away, so if you haven't submitted your return, it's time to get moving.But that's no reason to rush through it.Whether you decide to go it alone or hire a tax preparer to help, make sure you avoid these costly mistakes.1. Making careless errorsBlame it on fat fingers, deadline pressure or plain carelessness, technical errors like the wrong Social Security number, name misspellings or a simple math error can cause problems and delays with your return.Tax software programs can flag errors like this, but every filer should still pay close close attention when reviewing their returns before sending them in, particularly pen-and-paper filers.2. Using the wrong filing statusThere are five filing options: single, married filing jointly, married filing separately, head of household and qualifying widow/widower with dependent child.Choosing the right status is important as it affects how much you pay in taxes. For instance, filing as head of household provides more benefits than married filing separately, explained Mark Steber, chief tax officer of Jackson Hewitt Tax Services.3. Forgetting to report incomeUncle Sam needs to know about all your sources of income last year: your salary, side-hustle cash, retirement withdrawals and gambling winnings. All of it.So don't leave anything out. If you get caught with unclaimed income, you could get hit with major penalties.4. Hiring a pro when you can DIYSome people have very complicated tax situations where an expert needs to be brought in. But many Americans have simple filings that might not require professional assistance, the experts said.If you have an adjusted gross income of ,000 or less, check if you can file your federal taxes for free using the IRS's Free File software options.5. Not taking all eligible deductionsDon't leave money on the table or pay more in taxes than you have to.Take the time to figure out which credits and deductions you're eligible for to reduce your tax liability and get as much back as possible. The IRS isn't going to tell you if you missed a valuable credit you could have claimed, said Steber.The Earned Income Tax Credit, for example, is commonly overlooked, with about one in five eligible taxpayers missing out on it, according to H&R Block. It's a sizeable credit with an average amount of more than ,400.6. Being disorganizedTax forms tend start rolling in at the start of the year that detail your sources of income.Some forms will come in the mail, while others can be retrieved electronically. Just be sure to collect them all before you file.Lisa Greene-Lewis, a CPA and tax expert from Turbo Tax, suggested keeping a folder by your mail so you can instantly drop the paperwork in and keep everything in one place.It's also helpful to keep an updated log throughout the year for things like mileage and charitable donations that you plan to claim on your return.7. ProcrastinatingTax season comes every year, there's no escaping it.While the actual deadline may vary (read why here), you know you have to send in your taxes every April. Yet many Americans scramble to get their returns in.By waiting until the last minute, you increase your risk of mistakes.8. Not filing a returnNot everyone has to file a tax return. But even if you don't have any tax liability, it could be in your best interest to file anyway.The IRS will only issue refunds to filers. So if you had too much federal taxes withheld from your paycheck or are eligible for other credits, you have to file a return to get the money.Earlier this month, the IRS said it had .1 billion in unclaimed federal income tax refunds for around 1 million people who didn't file a tax return in 2014. 3747
The Big Red Machine has been elected to political office.Glenn Jacobs -- better known as WWE wrestler Kane -- won his bid for Knox County, Tennessee mayor after roundly defeating his opponent, Linda Haney. He had the Democratic nominee on the ropes in Thursday's election, tallying twice as many votes -- 51,804 to Haney's 26,224.It was a much easier victory than his primary win over fellow Republican Brad Anders, who took the wrestling superstar to the mat -- Jacobs only won that race by a 23 vote margin.In his wrestling persona Jacobs, most often a "heel" or villain, is a fan favorite. He has previously wrestled in a red mask, giving rise to his nickname.He was already winding down his wrestling career before he ran for office, according to Bleacher Report.His new responsibility, Knox County, is home to the city of Knoxville and is the third-most populous county in Tennessee. 896
The Black Lives Matter Global Network Foundation has established a fund worth more than million to aid organizations fighting institutional racism, in the wake of the George Floyd protests.On Wednesday, the foundation, which has been influential in the emergence of the broader Black Lives Matter movement, said it was setting aside million in donations to support black-led grassroots organizing groups. Last week, it unveiled a separate .5 million fund for its network of affiliate chapters.Beginning July 1, affiliated chapters can apply for unrestricted funding of up to 0,000 in multi-year grants, the foundation announced. Grants from both funds will be administered through a fiscal sponsor, said Kailee Scales, managing director of the foundation.“In this watershed moment for black power building ... it is critical that we democratize giving to ensure all of us have access to the resources we need to reverse centuries of disinvestment in black communities, and invest in a future where we can all be connected, represented and free,” Scales said in a statement to The Associated Press.According to the network’s website, the organization has more than a dozen active chapters, including Boston, Chicago, Washington, D.C., and Detroit, as well as in Canada. Its newest chapter is in South Bend, Indiana.The foundation told the AP it has received more than 1.1 million individual donations at an average of per gift since the death of Floyd, a black man who died May 25 pleading for air as a white Minneapolis police officer held a knee to his neck for nearly eight minutes. The surge of financial support adds to roughly .4 million in net assets the BLM Global Network had on hand last year, according to a 2019 financial statement of Thousand Currents, the fiscal sponsor which receives donations on the network’s behalf and then releases money to the group.Creation of the funds signals a growth in infrastructure for the network, which had been at odds with some local chapter organizers, who felt network leaders weren’t providing enough financial support for initiatives such as rapid response to police brutality. Although there are many groups that use “Black Lives Matter” or “BLM” in their names, only 16 are considered affiliates of the global network.For Black Lives Matter Los Angeles, the network’s first official chapter, the fund will increase its capacity to support families in need of legal aid, public communications strategy and other services after a loved one is killed by police, said organizer Melina Abdullah, who is a professor in the Pan-African Studies department at California State University, Los Angeles.“We’ve been struggling for seven years now with very limited resources,” Abdullah told the AP. “We’re not paid. But we also have real costs, even if we’re not taking salaries.”Renewed energy in the BLM movement has created a need for more resources, she added. “This fund will allow us to move forward in really strong ways.”Racial justice groups across the U.S. have reported receiving tens of millions of dollars in donations, particularly for community bail funds posting bond for protesters arrested in demonstrations. The wealth is being spread across younger grassroots organizations and legacy institutions, such as the NAACP Legal Defense and Education Fund and the National Urban League.The Black Lives Matter movement emerged in 2013 amid anger over the acquittal of George Zimmerman, the Florida man who shot and killed 17-year-old Trayvon Martin in 2012. The network of chapters was formed in 2014, following what organizers called Ferguson October, a national mobilization in response to the police shooting death of 18-year-old Michael Brown in Ferguson, Missouri.“I’m really proud of the work we’ve been able to do in the last seven years,” Patrisse Cullors, co-founder and chairwoman of the Black Lives Matter Global Network Foundation, said in a statement. “What is clear is that Black Lives Matter shares a name with a much larger movement and there are literally hundreds of organizations that do impactful racial and gender justice work who make up the fabric of this broader movement.”The foundation has already identified several movement organizations that it would like to support, said Cullors, who declined to name the groups. The foundation says it will “prioritize mutual aid organizations, direct service and organizations focused on creating sustainable improvements in the material conditions for all black people.” It also looks to support black lesbian, gay, bisexual and transgender-led groups.Over its nearly six years of existence, the BLM Global Network had received contributions from high-profile donors, including A-list entertainers such as Jay-Z, Beyoncé and Prince, who contributed to BLM mere weeks before his death in 2016. But unanswered questions of transparency and access to those gifts left some organizers in network affiliate chapters frustrated.In January 2018, a New York City chapter announced its decision to leave the BLM Global Network, citing the need for autonomy to better serve its community. In December 2019, a different group of organizers in New York rejoined the network, Scales said.In recent weeks, the BLM Global Network has had to debunk misinformation from conservative activists who claimed the group’s donations were being redirected to the Democratic Party.The network has also been in a tug of war with a California-based organization called the “Black Lives Matter Foundation,” which has accepted donations that do not support the movement. The other group reportedly raised millions of dollars in recent weeks from small individual gifts and from employees of large corporations, such as Apple and Microsoft, who believed they were supporting the Black Lives Matter Global Network Foundation.___Morrison is a member of the AP’s Race and Ethnicity team. Follow Morrison on Twitter at https://twitter.com/aaronlmorrison. 5969
TENINO, Wash. – George Washington’s face may be on U.S. currency, but never on money quite like this.“We've created our own,” said Wayne Fournier, mayor of Tenino, Washington.It’s a town of about 2,000 people, halfway between Seattle and Portland. Using a printing press from the 19th century, Tenino is now printing its own form of currency, made of thin pieces of wood.“We're growing money on trees here,” Mayor Fournier said. “Literally.”It’s called “complimentary currency” or “scrip.” Here’s how it works: using ,000 from the general fund, the city is backing the wooden notes, 400 of them in all, and giving them to town residents in need.“We issue it out to people that have been affected by the pandemic and qualify financially,” Mayor Fournier said. “They can receive up to 0 a month.”In turn, people can spend the wooden money, but only in town, at businesses that signed up to participate in the program. Those businesses can then redeem the wooden money back at City Hall for real U.S. dollars.“I thought it was a really good idea,” said Juan Martinez, of Don Juan’s Mexican Kitchen in Tenino.The restaurant has been around for eight years, but the pandemic affected its bottom line and that of people in town, too. So far, though, the wooden money is getting around.“I've had quite a few people come in and, you know, they hadn't gone out to dinner in a while because they were laid off of work,” Martinez said, “and when they got it, had a few people come in and enjoy lunch with their families and were able to pay with the wooden money.”It’s a currency circulation that the mayor wants to keep going.“The whole idea is just to keep money bouncing around the community,” he said.The town has done this before, back in the 1930s, during the Great Depression.“It was a big hit and it saved the city at the time,” Mayor Fournier said.It’s an old lifeline they hope will keep working again in a new era.City leaders say they have been fielding calls from as far away as Spain, New Zealand and Japan from people interested in their wooden money. They say, so far, the U.S. Treasury Department has not contacted them about their wooden money program. 2177
Taylor Swift announced Tuesday morning that she will be releasing an intimate concert film on Disney+.The original film is titled “folklore: the long pond studio sessions” and will premiere at 3 a.m. EST on Wednesday.The film will feature performances of songs from Swift’s latest album “Folklore,” which the singer wrote and recorded during the COVID-19 pandemic.“It’s an album that lets you feel your feelings and it’s a product of isolation,” Swift said in a teaser released for the film.Well it’s 11/24 and 24-11=13 so I’ve got an announcement ?? You haven’t seen this film before ? folklore: the long pond studio sessions will be out tonight at midnight PST on @DisneyPlus! #folkloreOnDisneyPlus pic.twitter.com/BTWSRM0yaI— Taylor Swift (@taylorswift13) November 24, 2020 In the teaser, Swift is accompanied by Jack Antonoff and The National's Aaron Dessner, who collaborated on the album.“This could have been a time that I lost my mind and instead, you know, this album was a real flotation device for both of us,” Swift tells Dessner.According to a press release obtained by “Good Morning America,” Swift will perform each song from “Folklore” in the order they appear on the album. It also reveals that Bon Iver’s Justin Vernon, who is featured on the song “Exile,” will make a guest appearance.Swift told “GMA” on Tuesday that she and her collaborators filmed the performances at Dessner’s Long Pond recording studio in upstate New York in September, using a robotic camera to abide by COVID-19 safety protocols.Tomorrow, you’re invited to an intimate concert of the record-breaking album from @TaylorSwift13. folklore: the long pond studio sessions, an Original Film, is streaming Nov. 25 exclusively on #DisneyPlus. #folkloreOnDisneyPlus pic.twitter.com/PGk8GtG4tF— Disney+ (@disneyplus) November 24, 2020 1826