Image source: Getty Images. Why you can’t bank on getting that $600 A tax credit is a dollar for dollar reduction of your tax liability, so if you claim a $600 credit for the stimulus payment you never received, you’ll automatically shave $600 off of your tax burden. But one thing you need to remember […]
You have bought an expensive new toy in expectation of your tax refund, and are now desperately waiting for the refund to arrive before the repo man and his large friend Vito come to visit. How can you find out the status of your refund at any time to estimate whether you need to make […]
Here’s why you shouldn’t panic about your stimulus payment. Getty There’s lots of confusion—and unnecessary fear—surrounding the COVID-19 stimulus checks. Understandably so, since these “Recovery Rebates” have been made a part of the always confusing U.S. Tax Code. The stimulus checks, which are one-time payments from the government to help consumers weather the economic storm […]
I have a few fixed deposits (FDs) amounting to ₹30 lakh with HDFC Bank Ltd. I will soon move to the UK and become a non-resident Indian (NRI). I will need this money six to 12 months after I settle and want it transferred in my UK account. What will be my tax liability? How […]