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Here's what to do if you can't pay that surprise tax bill by April 15

Here's what to do if you can't pay that surprise tax bill by April 15

Finance
For some taxpayers who face an unexpected tax bill, another hit could come with it: no way to pay what's owed by the April 15 due date. With returns being prepared for the first time under new tax law, some people are getting caught flat-footed by owing money to Uncle Sam after past refunds or owing more than anticipated — despite lower marginal income tax rates across the board. The reasons for the surprise bills vary, although one contributing culprit is the reduced payroll withholding rates applied in 2018. In simple terms, this means the amount withheld from worker paychecks wasn't enough to cover their tax liabilit...
Here's why getting exactly zero back from the IRS might be a good thing

Here's why getting exactly zero back from the IRS might be a good thing

Finance
Forget about that gigantic refund: What you really want from the IRS is a tax balance of exactly zero and no big check. That's because hitting zero with the taxman — that is, neither owing a balance nor receiving a refund — is an indication that you paid exactly the amount of tax liability you owed. A select group of taxpayers managed to hit that goal during the 2016 tax year, according to SmartAsset's analysis of IRS data. Montana happens to be home to the greatest number of filers who owed nothing and received nothing in return from the ...
Medicare for All could take center stage in the 2020 election. Here's what that means

Medicare for All could take center stage in the 2020 election. Here's what that means

Finance
Americans say they want better health care. How that will happen is still up in the air. Enter Medicare for All, a term that increasingly is being used by health-care advocates, politicians and aspiring presidential candidates. The concept is the latest iteration of a complex discussion about medicine that goes back decades. The current goal: To come up with something better than the Affordable Care Act when it comes to giving more individuals access to care and reducing what they pay, while putting fewer burdens on medical industry. The debate comes ...
Morgan Stanley: Here's how Apple could send its stock soaring by 27% this year

Morgan Stanley: Here's how Apple could send its stock soaring by 27% this year

Finance
Apple has made quite a comeback since it reported better-than-feared earnings, but many investors have little faith that the iPhone-maker can return to a $ 1 trillion market value with slowing smartphone demand. Morgan Stanley, however, disagrees. In fact, the bank said life beyond iPhone could extend this week's 7 percent relief rally to another 27 percent gain from here this year. A slew of new services launching in 2019, including video streaming and a media bundle will be a big driver for Apple, according to Morgan Stanley's Katy Huberty. Apple plans to debut its v...
Here's all that finally did Chanda Kochhar in

Here's all that finally did Chanda Kochhar in

Finance
NEW DELHI: After initial denials, now it has been established by an independent probe that ICICI Bank's ex-CEO Chanda Kochhar had indeed violated the company code of conduct. A committee headed by retired Justice B.N. Srikrishna committee has indicted Kochhar. The indictment comes less than a week after the Central Bureau of Investigation (CBI) turned its preliminary enquiry, in which it was probing the alleged nexus between Deepak Kochhar, husband of ICICI Bank ex-CEO Chanda Kochhar and Videocon group MD Venugopal Dhoot, into an FIR. The CBI has booked the three of them in connection with alleged cheating and irregularities in loans sanctioned by the bank to the Videocon group in 2012. After the CBI probe started last year, Kochhar sought an early retirement and the bank accepted her res...