Samuel Corum/Bloomberg via Getty Images The IRS had a backlog of almost 12 million paper tax returns from individuals and businesses as of Christmas, according to a report from the Treasury Inspector General for Tax Administration. As a result, many taxpayers may not have gotten refunds owed from last year’s filing season, the watchdog said
Month: March 2021
Credit Suisse bank. NurPhoto | NurPhoto | Getty Images One Wall Street firm may have found a solution to the unhappiness of overworked junior bankers amid a boom in deals activity: Money. Credit Suisse executives told mid- and entry-level investment bankers Wednesday that they were getting special $20,000 bonuses in the second quarter, and that
A 21,000-square-foot megahome in South Florida is the most expensive non-oceanfront home ever sold in Delray Beach, and its $19 million sale price makes it the the town’s top sale in over three years, according to the MLS. “Resort-style living is a driving force in the ultra-luxury market,” listing agent Senada Adzem tells CNBC, “People are rethinking
An illustration of NFT-based art. gremlin | E+ | Getty Images Venture capitalists are writing big checks for start-ups in the booming NFT space. NFTs, or non-fungible tokens, have exploded in popularity this year in tandem with a rise in the values of cryptocurrencies like bitcoin and ether. They’re a type of digital asset designed
A United Airlines Holdings Inc. Bombardier CRJ-550 airplane sits at a gate at O’Hare International Airport (ORD) in Chicago, Illinois. Daniel Acker | Bloomberg | Getty Images United Airlines is adding more than two dozen nonstop routes from the Midwest to coastal cities popular with vacationers for the summer season, a bet that travelers will
A small business owner in Chinatown, San Francisco Source: CNBC Beginning April 6, small businesses and non-profits can apply for up to 24 months of relief, with a maximum loan amount of $500,000, the Small Business Administration announced Wednesday. The previous limit for such businesses was six months, with a maximum loan amount of $150,000.
A Fidelity Investments location in New York. Scott Mlyn | CNBC Fidelity Investments is preparing to launch its own bitcoin fund as the investment giant works to cement its clout in the market for digital assets and virtual currency. FD Funds Management, a subsidiary of Fidelity, said on Wednesday that it plans to provide financial
Illustrative image of two commemorative bitcoins seen in front of the Tesla car logo. Artur Widak | NurPhoto | Getty Images You may be aware that you can now purchase a Tesla using bitcoin. If the idea appeals to you, here’s a twist: the taxman will be hovering with palm out. When you use bitcoin
Traders on the floor of the New York Stock Exchange Source: NYSE Futures contracts tied to the major U.S. stock indexes inched higher at the start of the overnight session Wednesday evening after pressure on technology stocks sent the Nasdaq Composite down 2% during the regular session. Dow futures rose 30 points, while contracts tied
Jason Kempin | Getty Images Entertainment | Getty Images The furniture retailer RH, formerly Restoration Hardware, on Wednesday reported fourth-quarter earnings and sales that topped Wall Street estimates, as it continued to see robust demand for its high-end furniture and home wares. CEO Gary Friedman said the momentum is expected to continue into this year,
Pedestrians cross a street in front of a Rite Aid store in Oakland, California. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell on Wednesday: KB Home – Shares of the homebuilding company slid 3% after the company reported mixed fiscal first-quarter results. KB home reported earnings
Lakeesha Brown splits custody of her daughters 50/50 with her ex-husband. CNBC When single mom Lakeesha Brown got divorced six years ago, she opted to forgo child support and instead split custody of her two young daughters with her ex-husband. It was the best decision she made, said Brown, 43, who lives in Farmington, Connecticut,
Traders work on the floor of the New York Stock Exchange. NYSE It’s the anniversary of the big drop: What’s changed? Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen are testifying before the House Financial Services Committee on the state of the economic recovery from the COVID-19 pandemic on Tuesday. It’s the one-year anniversary
Fueled by Covid vaccines, flexible cancellation policies and people yearning to break free from home, the summer travel season is already booming for some parts of the travel industry. A survey from research company Toluna indicates Americans are gaining confidence to travel with each passing month, with 27% comfortable to travel in April and 42%
A visual representation of digital currencies. Yuriko Nakao | Getty Images LONDON — Cryptocurrencies are used to evade laws and should face more regulation, according to the general manager of the Bank for International Settlements (BIS). Many digital coins are “used to do some arbitrage, or to circumvent some regulations,” Agustin Carstens told CNBC’s Joumanna
Tiffany Hagler-Geard | Bloomberg | Getty Images Investors are finally getting a look at GameStop‘s fundamentals following a Reddit-fueled trading frenzy earlier this year. Here’s what the company did after the bell Tuesday. It released quarterly results that missed Wall Street’s estimates. In its latest executive shake-up, the company named former Amazon and Google executive
“I think this is the number one reason managers lose their job — they often can’t build that emotional connection or bond with players.” Football, that random dispenser of joy and woe, mimics life in its unpredictability. Yet we so often reduce the game to numbers and patterns, counting on past results and experiences to
Samuel Corum/Bloomberg via Getty Images The IRS issued guidance Tuesday on a new unemployment tax break that makes more people eligible for the benefit. The American Rescue Plan waives federal tax on up to $10,200 of unemployment benefits collected last year, per person. But the $1.9 trillion Covid relief measure, which President Joe Biden signed
Jane Fraser, chief executive officer for Latin American at Citigroup Inc., smiles during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 29, 2019. The conference brings together leaders in business, government, technology, philanthropy, academia, and the media to discuss actionable and collaborative solutions to some of the most important questions
New York state Gov. Andrew Cuomo speaks at a news conference on September 08, 2020 in New York City. Spencer Platt | Getty Images A group of 250 CEOs and business leaders sent a letter to New York’s governor and legislators expressing “alarm” at what they say could become the largest spending and tax increase
U.S. stock futures were flat in overnight trading on Tuesday amid renewed investor concern about the global recovery from the coronavirus pandemic. Dow futures rose 20 points. S&P 500 futures gained 0.08% and Nasdaq 100 futures rose 0.3%. On Tuesday, stocks tied to an economic recovery led the losses amid rising new coronavirus cases in
Jim Cramer on “Mad Money.” Scott Mlyn | CNBC CNBC’s Jim Cramer on Tuesday said the stock market won’t reach a bottom until sentiment finds a low point, akin to how stocks rebounded from the historic coronavirus-fueled plunge last year. ”A year ago, we caught a weird bottom as the market experienced a changing of
LaylaBird The U.S. Labor Department launched a website Monday to help Americans report identity fraud linked to unemployment benefits. Unemployment fraud has surged during the Covid pandemic. Much of it is linked to organized crime rings that bought identity information stolen in past data breaches, according to the labor bureau. Criminals use this data to
Constantine Johnny | Moment | Getty Images The IRS may be extending the deadline to file your annual taxes for 2020 to May 17, but there’s no time like now to get started on them — no matter your circumstances. Perhaps you owe money that you don’t currently have. Maybe your life has been turned
Billionaire Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, is impressed by one key skill: failing “well.” “The people I respect most are those who fail well,” Dalio tweeted on Friday. “I respect them even more than those who succeed.” By failing “well,” Dalio said, one learns from their mistake and changes
In this article .IXIC US10Y When rising Treasury yields put pressure on tech stocks, Invesco’s Kristina Hooper is looking to put money to work. Hooper, who oversees $1.3 trillion in assets, predicts the group’s growth potential will ultimately prevail over inflation fears. “Any time we see a tech sell-off, it’s an opportunity to buy some
An employee draws up a syringe and a container with the BioNTech/Pfizer vaccine, in Schwaz, Austria. JOHANN GRODER | AFP | Getty Images LONDON — The European Union is “facing a serious situation” in rolling out Covid-19 shots, but it is “highly unfair” to accuse the bloc of vaccine nationalism, the region’s trade chief told
Getty Images New $1,400 stimulus checks could be landing in your mailbox soon. Government agencies including the Treasury Department, IRS and Bureau of the Fiscal Service on Monday announced a second batch of payments will be sent this week. While that includes more direct deposit payments, it also includes a large number of mailed paper
Jamie Grill | The Image Bank | Getty Images The financial uncertainty created by the global pandemic has made an impact on Americans of all generations and income levels. Even as the economy starts to show signs of recovery, too many Americans are still unemployed, and the uncertainty over the shape of economic recovery lingers.
A Starlink user terminal being set up. SpaceX Elon Musk’s SpaceX is in talks with the United Kingdom for the company’s Starlink satellite unit to potentially to earn funding as a part of the government’s new $6.9 billion internet infrastructure program, CNBC confirmed. U.K. Minister for Digital Infrastructure Matt Warman recently met with Starlink leadership,
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