New Changes to College Financial Aid and Education Tax Benefits
In late December 2020, Congress passed the Consolidated Appropriations Act, 2021, another relief package in response to the pandemic. The bill included several provisions related to education, including $22.7 billion for colleges and universities. Here are some key highlights. Simplified FAFSA. The bill accomplishes the objective of simplifying the Free Application for Federal Student Aid, or FAFSA, starting with the 2023-2024 school year. For example, the legislation signifi
Due Date Approaches for 2020 Income Tax Returns
Tax filing season is finally coming to an end. If you haven't done so already, you'll want to start pulling things together — that includes getting your hands on a copy of your 2019 tax return and gathering W-2s, 1099s, and deduction records. You'll need these records whether you're preparing your own return or paying someone else to prepare your tax return for you. Don't procrastinate. The filing deadline for individuals is Monday, May 17, 2021. Filing for an Extension If yo
