Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
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Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
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"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
Monday is the first day you can file your 2016 income tax returns.
Don't worry if you haven't started. Employers have until Jan. 31 to send you the W-2 and 1099 forms most people need to complete their returns.
If you had investment income last year, you may have to wait until mid-February before you receive all the necessary paperwork.
Here's a timeline to help you through it all:
You have until April 18, three days longer than usual, to file. If you file for an extension, you have until Oct.16 to complete your return.
"Don't file your taxes too early," said Scott Hughes, a certified financial planner and managing partner at Hughes Financial Services in Herndon, Virginia. "For investors who expect 1099s for their taxable investments, remember that many firms send corrected 1099s. To avoid having to refile your taxes, wait until late March or early April."
Even if you file early, you may have to wait longer to get your refund anyway.
Taxpayers who claim the earned income tax credit and the additional child tax credit will have to wait until Feb. 15 to receive their refund. Even then, taxpayers may not have access to their cash until Feb. 27 because a new law requires the IRS to hold on to the entire refund for those filers in order to crack down on fraud.
Whenever you file, it helps to have a system to keep tabs on your tax documents, said Shelia Brandenberg, a certified public accountant in Teaneck, New Jersey.
"That system can be as simple as a folder for all your documents," she said. "Doing your taxes is really something you should do all year long, not just during tax season, by keeping good records."
You also will need tax documents to receive many popular deductions and credits, such as the mortgage interest deduction and child care tax credit.
Here's a rundown of the forms you'll need for popular tax deductions and credits:
Once you have your forms, you have plenty of options to file your taxes at little to no cost.
And three major tax-prep software makers, TaxAct, TaxSlayer and TurboTax, are making it easier for users to save for retirement this tax season.
Speaking of retirement savings, remember you can still make 2016 contributions to your traditional and Roth IRAs until April 18.
"Tax season didn't just begin ... because it never ends. It only gets more intense, " said David Demming, a certified financial planner in Aurora, Ohio.