| Volume 143 Number 45 |
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The People’s Lawyer’s Tip of the Day
If COVID-19 canceled your travel plans, you are likely disappointed and wondering about refunds, credits, or vouchers for plane tickets, cruise bookings, tours, and more. Even if your scheduled travel is months away, you might be weighing your options. And many travel service providers seem to be working to address concerns about upcoming trips. Click here for more.
Unemployment benefits received during the pandemic are taxable
Upwards of 22 million Americans have lost their jobs during the pandemic, forcing many to collect unemployment to make ends meet. For some, a bonus of $600 each week in coronavirus relief is being added on.
All that is fine and dandy for now, but most of those check recipients are unaware that they're going to have to pay taxes on that money because the IRS views it as "taxable income." Note: the "economic impact payment" Americans received is NOT taxable. Isn't there some crafty way to avoid paying taxes on unemployment checks? The short answer is no. Click here for more.
Your Money
If your employer has provided a match to your 401(k) contributions in the past, the trend might not continue. As the coronavirus pandemic continues to impact the U.S. economy, some companies are dropping the 401(k) match to reduce expenses. While the shift may enable employers to cut certain costs and avoid having to lay off workers, it can also be disheartening to see some of your expected retirement savings disappear. Here's what to do if your 401(k) match is eliminated. Click here for more.
For the Lawyers
FDCPA one-year limitations period extends to next week-day after a weekend. U.S. District Court for the Northern District of Texas held a debt collector violated the Fair Debt Collection Practices Act in connection with inaccurate information reported to the credit bureau. In addition to holding the statute of limitations had not run, the court found that the debt collector violated the FDCPA by communicating credit information that the debt collector knows or should know to be false. Krier v. United Revenue Corp. Click here for more.