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37 votes

How does the government shutdown affect tax returns?

During the partial shutdown of the US Federal government, the IRS will continue to collect tax and process income tax returns, but refunds will not be paid out until the shutdown has ended. There ...
Istanari's user avatar
  • 2,131
27 votes
Accepted

What’s the difference between inflation and inflation tax?

It's mostly semantics. Per https://en.wikipedia.org/wiki/Talk%3AInflation_tax#:~:text=An%20inflation%20tax%20is%20the,that%20subtracts%20value%20from%20currency. An inflation tax is the economic ...
Hilmar's user avatar
  • 7,914
17 votes

What’s the difference between inflation and inflation tax?

It IS going to the government. What causes inflation is when the government increase the money supply faster than the economy is growing. Imagine a simpler monetary system with no fractional reserve ...
Jay's user avatar
  • 22.8k
15 votes

How does the government shutdown affect tax returns?

The bottom line is that no one knows, and it is dependent upon your particular situation. This is pure speculation, but I think that most people will not be affected. Given that W-2s are employer ...
Pete B.'s user avatar
  • 76.7k
6 votes

Bypass credit agency and pay loan directly to US Dept of Education?

In the US, a student loan in default can go to a collection agency. The collection agency charges a collection fee. Prior to being sent to collections they would have communicated what you could do to ...
Hart CO's user avatar
  • 70.5k
4 votes

Why is tax so high on petrol and diesel in India?

Globally speaking, India has moderate gasoline prices and the taxes actually are much higher in Europe. https://www.globalpetrolprices.com/gasoline_prices/ Taxes are complicated and often used to ...
Hilmar's user avatar
  • 7,914
4 votes
Accepted

Local government or private pension?

The local government pension scheme is a "defined benefit" scheme, with the final pension being based on your earnings in each year of service (after 2014), with the benefit being "index linked" so it ...
GS - Apologise to Monica's user avatar
4 votes

How does the government shutdown affect tax returns?

The IRS may process refunds normally The Donald Trump administration claims that they will refund taxes during the shutdown. From the New York Post: Taxpayers who are owed refunds will be paid ...
Brythan's user avatar
  • 21k
4 votes

What’s the difference between inflation and inflation tax?

I believe the best way to address monetary inflation by the government (a.k.a. money printing) is by referring to it as a "hidden tax." Taking the US as an example, over the past 100 years, ...
Tim Biegeleisen's user avatar
4 votes

Why haven't government/banks acted to prevent money laundering and other scams?

Banks could flag accounts from which cheques like this have bounced more than once, and alert anyone depositing a cheque from that account that it might be fraudulent Checks are written on a Bank A ...
Justin Cave's user avatar
  • 27.3k
4 votes
Accepted

Lack of response by FinCen?

If you're an individual filer with less than 25 accounts you need to file the form with the accounts listed in Part II. If you look at the form, the Part II starts on the first page with the space for ...
littleadv's user avatar
  • 177k
4 votes

What does it mean when I read in the news that interest rates were lowered or raised?

(US-centric answer, but should be fairly universal) When the news says that the government is raising interest rates, it means the Federal Funds Rate that the Treasury gives banks on their deposits. ...
D Stanley's user avatar
  • 137k
4 votes
Accepted

What determines the interest rates of government bonds?

I can imagine there are people selling on the secondary market at given interest rates, therefore the rate changes on the basis of those trades. No - the rate for a given bond is fixed, and is set by ...
D Stanley's user avatar
  • 137k
3 votes

How does the U.S. government "spend money into existence?"

This is posited by Stephanie Kelton in her book The Deficit Myth. Currency users must gather money before they spend it. You and I need to earn money or borrow it before we can buy goods and services,...
Peter K.'s user avatar
  • 3,963
3 votes

Bypass credit agency and pay loan directly to US Dept of Education?

letter … ordering that they garnish Is the letter simply a threatening letter from the agency, or is it a court order? If it's a court order, your employer is required to deduct the money from your ...
Ray Butterworth's user avatar
3 votes

What does it mean when central banks buy bonds (QE)?

The central bank creates money and uses it to buy government bonds. This increases the amount of money in circulation. They do this when they feel there is too little money in circulation. (Interest ...
zeta-band's user avatar
  • 3,997
3 votes

Local government or private pension?

It is very unlikely that a private pension will give you a better pension for the same contributions as the local government pension scheme, which is one of the biggest perks of working for local ...
Mike Scott's user avatar
  • 23.5k
3 votes
Accepted

Why haven't government/banks acted to prevent money laundering and other scams?

Others have replied to your suggestions point by point. So let me just add some general comments. One: If you come up with a scheme to make it difficult or impossible to pull off a certain scam, that ...
Jay's user avatar
  • 22.8k
2 votes

Capital gains tax on US treasury bonds

When any non-exempt bond (not just Treasuries) is bought at more than a 'de minimis' discount, the 'guaranteed' gain is treated for tax purposes as additional interest, amortized over the term of the ...
dave_thompson_085's user avatar
2 votes

What does cryptocurrency mean for governments?

Government's tax citizens and businesses in their currency. Earnings (even earnings in cryptocurrencies) are taxable income.
Glen Pierce's user avatar
  • 2,583
2 votes

What happens to brokerage accounts during severe financial crises?

What typically happens to brokerage accounts during similar situations? This depends on country, time and situation. Nothing is predictable in such situations. In Greece during the said period the ...
Dheer's user avatar
  • 57.1k
2 votes

What is the difference between section 8 and section 515 housing in the U.S.?

According to this website, for=profit or non-profit groups can get inexpensive loans to create low-cost housing in rural areas using the section 515 provisions. So it's not a direct-to-renter program, ...
mkennedy's user avatar
  • 1,208
2 votes
Accepted

How to contact SBA regarding COVID19 loans?

Over phone they delegated me to NorcalSBDC.org website (note the lack of .gov). NORCALSBDC is one of the Small Business Development Centers created by the SBA. The program is a cooperative effort of ...
mhoran_psprep's user avatar
2 votes

Can W-2 form be verified using QR code or something relevant?

Some countries provide forms similar to US' W-2. The W-2 form is issued by your employer. The government only knows the numbers are real because the employer provided a copy to the IRS and to the ...
mhoran_psprep's user avatar
2 votes

Can W-2 form be verified using QR code or something relevant?

There is an online tool for viewing your own prior transcripts. Note it is only for personal use: Caution: This service is for individual taxpayers to retrieve their own transcripts for their own ...
TTT's user avatar
  • 47.2k
2 votes

Is there any official/governmental website for cost of living in the US cities?

You could use the GSA adjustment map, which for example lists the Bay Area as 42.67% higher than the base pay. They have 53 rating areas. (Note: this linked map itself isn’t official, but it is using ...
Joe's user avatar
  • 35.8k
2 votes

What’s the difference between inflation and inflation tax?

The "tax" in "inflation tax" is metaphorical. It means that although you have, say $100, in your bank account, your actual purchasing power is less than you would expect because ...
Nobody's user avatar
  • 2,082
2 votes

Which loan would be most cost-effective to service first?

Pay off whichever loan is charging you higher real interest. That will save you money. Or pay off whichever loan you can close out first. That may save you some emotional stress. Or any combination ...
keshlam's user avatar
  • 48.2k
1 vote

Why haven't government/banks acted to prevent money laundering and other scams?

Banks do all these things. What makes you think they don't? The government could move to ban cheques entirely Why? Most people never use checks to begin with, but those who do - they have a ...
littleadv's user avatar
  • 177k

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