Lost these tax breaks on your federal return? Your state might let you have them

Late filers: Don’t shred those receipts just yet. You might be able to nab a break on your state tax return. It’s the first time taxpayers are submitting returns under the Tax Cuts and Jobs Act. This overhaul of the federal tax code roughly doubled the standard deduction to $12,000 for single filers ($24,000 for married-filing-jointly), did away with personal exemptions and limited itemized deductions. As a result of these changes, about 30 million fewer households will itemize in 2018, compared


Late filers: Don’t shred those receipts just yet. You might be able to nab a break on your state tax return. It’s the first time taxpayers are submitting returns under the Tax Cuts and Jobs Act. This overhaul of the federal tax code roughly doubled the standard deduction to $12,000 for single filers ($24,000 for married-filing-jointly), did away with personal exemptions and limited itemized deductions. As a result of these changes, about 30 million fewer households will itemize in 2018, compared
Lost these tax breaks on your federal return? Your state might let you have them Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: darla mercado, guido mieth, digitalvision, getty images, martinprescott, peopleimages
Keywords: news, cnbc, companies, taxpayers, submitting, state, filers, shred, standard, tax, single, 2018, let, return, lost, taxation, federal, breaks


Lost these tax breaks on your federal return? Your state might let you have them

Late filers: Don’t shred those receipts just yet. You might be able to nab a break on your state tax return.

We are closing in on the final days of the 2018 filing season. It’s the first time taxpayers are submitting returns under the Tax Cuts and Jobs Act.

This overhaul of the federal tax code roughly doubled the standard deduction to $12,000 for single filers ($24,000 for married-filing-jointly), did away with personal exemptions and limited itemized deductions.

As a result of these changes, about 30 million fewer households will itemize in 2018, compared to 2017, according to the Joint Committee on Taxation.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: darla mercado, guido mieth, digitalvision, getty images, martinprescott, peopleimages
Keywords: news, cnbc, companies, taxpayers, submitting, state, filers, shred, standard, tax, single, 2018, let, return, lost, taxation, federal, breaks


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3 big tax planning takeaways from Sen. Elizabeth Warren’s 2018 return

Say what you will about presidential hopeful Sen. Elizabeth Warren, D-Mass., but it looks like she’s getting some good tax advice. Warren released her 2018 tax return Wednesday. She filed jointly with her husband Bruce H. Mann, a professor at Harvard Law School. The two reported total income of $905,742 and paid total taxes of $230,965, according to the return. Here are a few tax planning takeaways from the senator’s 2018 return.


Say what you will about presidential hopeful Sen. Elizabeth Warren, D-Mass., but it looks like she’s getting some good tax advice. Warren released her 2018 tax return Wednesday. She filed jointly with her husband Bruce H. Mann, a professor at Harvard Law School. The two reported total income of $905,742 and paid total taxes of $230,965, according to the return. Here are a few tax planning takeaways from the senator’s 2018 return.
3 big tax planning takeaways from Sen. Elizabeth Warren’s 2018 return Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: darla mercado, bill clark, cq-roll call group, getty images, catherine lane, -tim steffen, cpa, director of advanced planning at robert w baird
Keywords: news, cnbc, companies, tax, werent, big, return, takeaways, taxes, total, wrong, 2018, makes, warren, warrens, elizabeth, sen, planning


3 big tax planning takeaways from Sen. Elizabeth Warren's 2018 return

Say what you will about presidential hopeful Sen. Elizabeth Warren, D-Mass., but it looks like she’s getting some good tax advice.

Warren released her 2018 tax return Wednesday. She filed jointly with her husband Bruce H. Mann, a professor at Harvard Law School.

The two reported total income of $905,742 and paid total taxes of $230,965, according to the return.

The couple didn’t get a refund. Rather, they owed the IRS $24,477 in taxes. They weren’t on the hook for underpayment penalties.

“I don’t think there’s anything wrong with her owing,” said Tim Steffen, CPA and director of advanced planning at Robert W. Baird & Co. “She makes estimated tax payments throughout the year, and we tell people that this makes the most sense — there are no penalties there.”

Here are a few tax planning takeaways from the senator’s 2018 return.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: darla mercado, bill clark, cq-roll call group, getty images, catherine lane, -tim steffen, cpa, director of advanced planning at robert w baird
Keywords: news, cnbc, companies, tax, werent, big, return, takeaways, taxes, total, wrong, 2018, makes, warren, warrens, elizabeth, sen, planning


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Suze Orman: If you waste money on coffee, it’s like ‘peeing $1 million down the drain’

Is your daily coffee habit worth the money? Suze Orman, financial expert and best-selling author of “Women and Money,” doesn’t think so. That’s because takeout coffee is a “want,” not a “need,” Orman says. Let’s say you spend around $100 on coffee each month. “You need to think about it as: You are peeing $1 million down the drain as you are drinking that coffee,” Orman says.


Is your daily coffee habit worth the money? Suze Orman, financial expert and best-selling author of “Women and Money,” doesn’t think so. That’s because takeout coffee is a “want,” not a “need,” Orman says. Let’s say you spend around $100 on coffee each month. “You need to think about it as: You are peeing $1 million down the drain as you are drinking that coffee,” Orman says.
Suze Orman: If you waste money on coffee, it’s like ‘peeing $1 million down the drain’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: emmie martin, -suze orman, author of, women, money
Keywords: news, cnbc, companies, orman, think, rate, instead, waste, 100, drain, money, suze, need, return, peeing, million, coffee


Suze Orman: If you waste money on coffee, it's like 'peeing $1 million down the drain'

Is your daily coffee habit worth the money?

Suze Orman, financial expert and best-selling author of “Women and Money,” doesn’t think so. “I wouldn’t buy a cup of coffee anywhere, ever — and I can afford it — because I would not insult myself by wasting money that way,” she tells CNBC Make It.

That’s because takeout coffee is a “want,” not a “need,” Orman says. Instead, that cash could be invested and put to work, she argues.

Let’s say you spend around $100 on coffee each month. If you were to put that $100 into a Roth IRA instead, after 40 years the money would have grown to around $1 million with a 12 percent rate of return. Even with a seven percent rate of return, you’d still have around $250,000.

“You need to think about it as: You are peeing $1 million down the drain as you are drinking that coffee,” Orman says. “Do you really want to do that? No.”

When it comes to saving for the future, “Every single penny counts.”


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: emmie martin, -suze orman, author of, women, money
Keywords: news, cnbc, companies, orman, think, rate, instead, waste, 100, drain, money, suze, need, return, peeing, million, coffee


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Suze Orman: If you waste money on coffee, it’s like ‘peeing $1 million down the drain’

Is your daily coffee habit worth the money? Suze Orman, financial expert and best-selling author of “Women and Money,” doesn’t think so. That’s because takeout coffee is a “want,” not a “need,” Orman says. Let’s say you spend around $100 on coffee each month. “You need to think about it as: You are peeing $1 million down the drain as you are drinking that coffee,” Orman says.


Is your daily coffee habit worth the money? Suze Orman, financial expert and best-selling author of “Women and Money,” doesn’t think so. That’s because takeout coffee is a “want,” not a “need,” Orman says. Let’s say you spend around $100 on coffee each month. “You need to think about it as: You are peeing $1 million down the drain as you are drinking that coffee,” Orman says.
Suze Orman: If you waste money on coffee, it’s like ‘peeing $1 million down the drain’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: emmie martin, -suze orman, author of, women, money
Keywords: news, cnbc, companies, orman, think, rate, instead, waste, 100, drain, money, suze, need, return, peeing, million, coffee


Suze Orman: If you waste money on coffee, it's like 'peeing $1 million down the drain'

Is your daily coffee habit worth the money?

Suze Orman, financial expert and best-selling author of “Women and Money,” doesn’t think so. “I wouldn’t buy a cup of coffee anywhere, ever — and I can afford it — because I would not insult myself by wasting money that way,” she tells CNBC Make It.

That’s because takeout coffee is a “want,” not a “need,” Orman says. Instead, that cash could be invested and put to work, she argues.

Let’s say you spend around $100 on coffee each month. If you were to put that $100 into a Roth IRA instead, after 40 years the money would have grown to around $1 million with a 12 percent rate of return. Even with a seven percent rate of return, you’d still have around $250,000.

“You need to think about it as: You are peeing $1 million down the drain as you are drinking that coffee,” Orman says. “Do you really want to do that? No.”

When it comes to saving for the future, “Every single penny counts.”


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: emmie martin, -suze orman, author of, women, money
Keywords: news, cnbc, companies, orman, think, rate, instead, waste, 100, drain, money, suze, need, return, peeing, million, coffee


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Boeing invites pilots, regulators to briefing as it looks to return 737 MAX to service

Boeing said it invited more than 200 global airline pilots, technical leaders and regulators for an information session on Wednesday as it looks to return the 737 MAX to commercial service. The meeting is a sign that Boeing’s planned software patch is nearing completion, though it will still need regulatory approval. The 737 MAX is Boeing’s best-selling plane, with orders worth more than $500 billion at list prices. Teams from the three U.S. airlines that own 737 MAX jets participated in a sessi


Boeing said it invited more than 200 global airline pilots, technical leaders and regulators for an information session on Wednesday as it looks to return the 737 MAX to commercial service. The meeting is a sign that Boeing’s planned software patch is nearing completion, though it will still need regulatory approval. The 737 MAX is Boeing’s best-selling plane, with orders worth more than $500 billion at list prices. Teams from the three U.S. airlines that own 737 MAX jets participated in a sessi
Boeing invites pilots, regulators to briefing as it looks to return 737 MAX to service Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: mike kane, bloomberg, getty images
Keywords: news, cnbc, companies, briefing, invites, boeing, crash, send, ethiopian, service, return, 737, software, looks, max, airlines, planned, regulators, pilots


Boeing invites pilots, regulators to briefing as it looks to return 737 MAX to service

Boeing said it invited more than 200 global airline pilots, technical leaders and regulators for an information session on Wednesday as it looks to return the 737 MAX to commercial service.

The meeting is a sign that Boeing’s planned software patch is nearing completion, though it will still need regulatory approval.

Over the weekend, Ethiopian Airlines executives had questioned whether Boeing had told pilots enough about “aggressive” software that pushes the plane’s nose down, a focus of investigation into a deadly crash in Ethiopia this month that led to the global grounding of 737 MAX jets.

The informational session in Renton, Washington on Wednesday is part of a plan to reach all current and many future 737 MAX operators and their home regulators to discuss software and training updates to the jet, Boeing said in a statement.

Garuda Indonesia, which on Friday said it planned to cancel its order for 49 737 MAX jets citing a loss of passenger trust after the crashes, was invited to the briefing, CEO Ari Askhara told Reuters on Monday.

“We were informed on Friday, but because it is short notice we can’t send a pilot there,” he said, adding the airline had requested a webinar with Boeing but that idea had been rejected.

A Boeing spokeswoman said the Wednesday event was one of a series of in-person information sessions.

“We have been scheduling and will continue to arrange additional meetings to communicate with all current and many future MAX customers and operators,” she said.

Garuda has only one 737 MAX and had been reconsidering its order before the Ethiopian crash, as has fellow Indonesian carrier Lion Air, which experienced a deadly crash in October.

Lion Air Managing Director Daniel Putut said Boeing had informed the airline of the Wednesday meeting but it might not attend. He declined to provide further comment.

Singapore Airlines said on Monday its offshoot SilkAir, which operates the 737 MAX, had received the invitation to the Wednesday event and would send representatives.

Civil Aviation Authority of Singapore representatives will also attend, a spokeswoman for the regulator said.

Korean Air Lines Co Ltd, which before the grounding had been due to receive its first 737 MAX in April, said it planned to send pilots to Renton. South Korean low-cost carrier Eastar Jet will send two pilots, a spokesman said.

Ethiopian Airlines did not respond immedidately to a request for comment about the meeting.

The 737 MAX is Boeing’s best-selling plane, with orders worth more than $500 billion at list prices.

Teams from the three U.S. airlines that own 737 MAX jets participated in a session in Renton reviewing a planned software upgrade on Saturday.

A U.S. official briefed on the matter Saturday said the Federal Aviation Administration (FAA) has not yet signed off on the software upgrade and training but the goal is to review them in coming weeks and approve them by April.

It remained unclear whether the software upgrade, called “design changes” by the FAA, will resolve concerns stemming from the ongoing investigation into the March 10 Ethiopian Airlines crash, which killed all 157 on board.

“After the crash it came to our attention that the system is aggressive,” Yohannes Hailemariam, vice president for flight operations at Ethiopian, told local reporters speaking in the Amharic language.

“It gives a message of stalling and it takes immediate action which is faster than the action which pilots were briefed to take by Boeing,” said Yohannes, himself a pilot with over 30 years of experience, including flying Boeing’s 777 and 787.

The U.S. official said planned changes included 15 minutes of training to help pilots deactivate the anti-stall system known as MCAS in the event of faulty sensor data or other issues. It also included some self-guided instruction, the official added.

American Airlines said Sunday it will extend flight cancellations through April 24 because of the grounding of the 737 MAX and cut some additional flights.


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: mike kane, bloomberg, getty images
Keywords: news, cnbc, companies, briefing, invites, boeing, crash, send, ethiopian, service, return, 737, software, looks, max, airlines, planned, regulators, pilots


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Levi Strauss shares surge, as jean giant makes return to the public market

Levi Strauss is going public again. Levi Strauss on Wednesday night priced its initial public offering at $17, topping original expectations of between $14 and $16 a share. Levi Strauss is also eyeing further expansion through new stores, further wholesale relationships and building out its online sales. For the year ended November 2018, Levi Strauss reported sales of $5.58 billion, a 13.7 percent jump over the year prior. Levi Strauss’ IPO won’t be the last chance for public investors to buy sh


Levi Strauss is going public again. Levi Strauss on Wednesday night priced its initial public offering at $17, topping original expectations of between $14 and $16 a share. Levi Strauss is also eyeing further expansion through new stores, further wholesale relationships and building out its online sales. For the year ended November 2018, Levi Strauss reported sales of $5.58 billion, a 13.7 percent jump over the year prior. Levi Strauss’ IPO won’t be the last chance for public investors to buy sh
Levi Strauss shares surge, as jean giant makes return to the public market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: lauren hirsch
Keywords: news, cnbc, companies, business, strauss, sales, return, market, surge, jean, jeans, billion, levi, shares, public, makes, plans, company, giant


Levi Strauss shares surge, as jean giant makes return to the public market

Levi Strauss is going public again. Here’s how it dominated the denim market for 150 years. 2 Hours Ago | 11:27

Shares of blue jeans giant Levi Strauss & Co. surged 32 percent in their debut on the New York Stock Exchange, giving the company a market capitalization of $8.7 billion and demonstrating strong demand for owning a part of the jean giant.

Levi Strauss on Wednesday night priced its initial public offering at $17, topping original expectations of between $14 and $16 a share.

The newly public company, trading under the symbol “LEVI,” has an opportunity to improve market share with women beyond its core business of men’s jeans. Its men’s business accounted for $4 billion of Levi’s $5.6 billion 2018 revenue and was a “key driver of its profits,” the company has said.

Levi Strauss is also eyeing further expansion through new stores, further wholesale relationships and building out its online sales. Geographically, it expects further growth in China, where just 3 percent of its revenue came from in 2018.

Those plans come even as the global jean industry has faced pressure from new competitors and alternatives like Lululemon Athletica leggings. Over the last 10 years, global jeans sales have climbed at a 3.5 percent compounded annual growth rate, slower than the entire apparel category, according to Bernstein analyst Jamie Merriman.

Still, Levi Strauss has carved out a unique place for itself, with its iconic brand and “exceptional quality at accessible prices,” the company says. For the year ended November 2018, Levi Strauss reported sales of $5.58 billion, a 13.7 percent jump over the year prior. That increase has come as the company also added to its marketing, which jumped by nearly 24 percent over the same year.

Some of the jean company’s efforts over the past few years to solidify its connection with customers include a presence at U.S. festivals and sporting events. In 2017, singer Beyonce wore the brand’s cutoff shorts for her headline performance at the Coachella music festival

The 166-year-old company first went public in 1971, but has been private for the last 34 years. The offering will give the descendants of its founders a chance to cash out some of their holdings. According to the prospectus, members of the Haas family will sell more than 21 million shares in the IPO.

The family, though, will continue to hold nearly 81 percent of voting power, through the company’s dual share structure. The family, through “Class B” stock, will have 10 votes for every 1 vote of common “Class A” shares.

Levi Strauss has said in its IPO documents filed with regulators that it plans to use proceeds from its offering to invest further in its business, including potential acquisitions or strategic investments. As of its IPO filing, it had no immediate plans for investments or acquisitions.

Levi Strauss’ IPO won’t be the last chance for public investors to buy shares in a jean company this year. VF Corp plans to spin off its jeanswear business, which includes Wrangler, Lee, Rock & Republic, into a new public company called Kontoor Brands in the first half of 2019. VF’s remaining brands, which include Vans, The North Face, Timberland and others, will remain under the VF Corp parent company.

Gap, meanwhile, is planning to spin off its Old Navy brand into its own publicly traded company, leaving the Gap brand, Banana Republic, Athleta, Intermix and Hill City under the parent company with a name still to be determined. Both new companies will sell jeans, along with other apparel.

CNBC’s Courtney Reagan contributed to this report


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: lauren hirsch
Keywords: news, cnbc, companies, business, strauss, sales, return, market, surge, jean, jeans, billion, levi, shares, public, makes, plans, company, giant


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IPOs are red hot, doubling the return of the market, as Levi Strauss kicks off wave of offerings

Renaissance Capital, which tracks the IPO market, counts 37 companies in registration targeting $10 billion of proceeds. “We are concerned about how the public markets will absorb all this issuance,” Kathleen Smith from Renaissance Capital told CNBC. Her point is that the market is very different than it was 20 years ago. These financial advisors often aren’t even stock pickers and don’t follow the IPO market. “The era when your broker called you up and said, ‘We’ve got a hot deal for you,’ is m


Renaissance Capital, which tracks the IPO market, counts 37 companies in registration targeting $10 billion of proceeds. “We are concerned about how the public markets will absorb all this issuance,” Kathleen Smith from Renaissance Capital told CNBC. Her point is that the market is very different than it was 20 years ago. These financial advisors often aren’t even stock pickers and don’t follow the IPO market. “The era when your broker called you up and said, ‘We’ve got a hot deal for you,’ is m
IPOs are red hot, doubling the return of the market, as Levi Strauss kicks off wave of offerings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: bob pisani
Keywords: news, cnbc, companies, ipo, proceeds, strauss, record, return, smith, ipos, offerings, market, financial, billion, red, wave, levi, hot, dont, kicks, renaissance, targeting


IPOs are red hot, doubling the return of the market, as Levi Strauss kicks off wave of offerings

Renaissance Capital, which tracks the IPO market, counts 37 companies in registration targeting $10 billion of proceeds. But that’s just the beginning: Renaissance has 234 companies targeting 2019 IPOs with valuations of nearly $700 billion, with a strong possibility that 2019 will be a record $100 billion year for IPO proceeds, passing the 2000 record of $96 billion.

It all sounds terrific, but there’s a simple problem: Who’s going to buy all this stuff?

“We are concerned about how the public markets will absorb all this issuance,” Kathleen Smith from Renaissance Capital told CNBC.

Her point is that the market is very different than it was 20 years ago. There are fewer individual investors. Many don’t even have brokerage accounts. They have financial advisors who do asset allocation using index investing and ETFs. These financial advisors often aren’t even stock pickers and don’t follow the IPO market. They are asset allocators.

“The era when your broker called you up and said, ‘We’ve got a hot deal for you,’ is mostly over,” Smith said.


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: bob pisani
Keywords: news, cnbc, companies, ipo, proceeds, strauss, record, return, smith, ipos, offerings, market, financial, billion, red, wave, levi, hot, dont, kicks, renaissance, targeting


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Netflix drops ‘Stranger Things’ season 3 trailer, teasing new monster, more ’80s nostalgia

Netflix’s “Stranger Things” has become a cultural phenomenon and a critical success. While “Stranger Things” is billed as a “Netflix Original,” the show is actually produced by 21 Laps Entertainment, a company run by director and producer Shawn Levy (“Night at the Museum”). It’s unclear what sort of deal Netflix made when it purchased the first season from Levy and writers Matt and Ross Duffer. Netflix could have paid a flat fee to own the series or an annual fee or a combination of the two. The


Netflix’s “Stranger Things” has become a cultural phenomenon and a critical success. While “Stranger Things” is billed as a “Netflix Original,” the show is actually produced by 21 Laps Entertainment, a company run by director and producer Shawn Levy (“Night at the Museum”). It’s unclear what sort of deal Netflix made when it purchased the first season from Levy and writers Matt and Ross Duffer. Netflix could have paid a flat fee to own the series or an annual fee or a combination of the two. The
Netflix drops ‘Stranger Things’ season 3 trailer, teasing new monster, more ’80s nostalgia Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: sarah whitten, source
Keywords: news, cnbc, companies, trailer, nostalgia, netflix, seasons, fee, season, monster, run, things, drops, 80s, series, upside, teasing, return, stranger


Netflix drops 'Stranger Things' season 3 trailer, teasing new monster, more '80s nostalgia

Eleven (Millie Bobby Brown), Mike (Finn Wolfhard), Dustin (Gaten Matarazzo), Lucas (Caleb McLaughlin), Will (Noah Schnapp) and Sadie Sink (Max) return and seem to have moved on after escaping the Upside Down, the dark dimension where the monsters like the demogorgon and mind flayer, named after “Dungeons and Dragons” creatures, from the first two seasons came from.

However, the gang is never far from danger. The trailer gives fans a glimpse that Will is likely still dealing with some unresolved issues from his connection to the Upside Down, and it offers a taste of the new monster the unlikely crew will have to face.

Not to mention, the looming threat of puberty and growing up.

“We’re not kids anymore,” says Mike. “I mean what did you think, we’re just gonna sit in my basement all day and play games for the rest of our lives?”

Winona Ryder (Joyce), David Harbour (Chief Hopper), Natalia Dyer (Nancy), Charlie Heaton (Jonathan), Dacre Montgomery (Billy) and Joe Keery (Steve) are all set to return this season.

Netflix’s “Stranger Things” has become a cultural phenomenon and a critical success. The series has had 30 Emmy nominations and won six, including outstanding casting for a drama series and outstanding sound editing.

While “Stranger Things” is billed as a “Netflix Original,” the show is actually produced by 21 Laps Entertainment, a company run by director and producer Shawn Levy (“Night at the Museum”).

Netflix does not own everything it brands as “original” on its platform. The term refers to Netflix being the first market that the show has aired in.

Often Netflix will work with another network to create a show, pay the production fees and then a licensing fee to keep the show on its platform. The streaming service has done this with shows like “The Crown,” “House of Cards” and “Ozark.”

It’s unclear what sort of deal Netflix made when it purchased the first season from Levy and writers Matt and Ross Duffer. Netflix could have paid a flat fee to own the series or an annual fee or a combination of the two.

Nine-episode Season 2 cost $8 million per episode. The Duffer brothers have said “Stranger Things” could run for a fourth or fifth season, but Netflix has not approved any seasons beyond the third.


Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: sarah whitten, source
Keywords: news, cnbc, companies, trailer, nostalgia, netflix, seasons, fee, season, monster, run, things, drops, 80s, series, upside, teasing, return, stranger


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Taxpayers are leaving $1.4 billion in tax refunds on the table

The IRS is sitting on $1.4 billion in unclaimed tax refunds, and taxpayers are running out of time to grab their cash. These tax refunds are from 2015, and they belong to about 1.2 million taxpayers who didn’t file a return that year, according to the IRS. In order to claim the money, taxpayers must submit their 2015 tax returns by April 15. Generally, you have three years from the due date of your tax return to claim your refund. The IRS may continue to hold your 2015 refund if you haven’t subm


The IRS is sitting on $1.4 billion in unclaimed tax refunds, and taxpayers are running out of time to grab their cash. These tax refunds are from 2015, and they belong to about 1.2 million taxpayers who didn’t file a return that year, according to the IRS. In order to claim the money, taxpayers must submit their 2015 tax returns by April 15. Generally, you have three years from the due date of your tax return to claim your refund. The IRS may continue to hold your 2015 refund if you haven’t subm
Taxpayers are leaving $1.4 billion in tax refunds on the table Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: darla mercado, cabania, istock, getty images plus, adam jeffery, floresco productions, ojo images, getty images
Keywords: news, cnbc, companies, refunds, table, billion, return, returns, leaving, tax, irs, unclaimed, 2015, refundthe, 14, taxpayers, refund


Taxpayers are leaving $1.4 billion in tax refunds on the table

The IRS is sitting on $1.4 billion in unclaimed tax refunds, and taxpayers are running out of time to grab their cash.

These tax refunds are from 2015, and they belong to about 1.2 million taxpayers who didn’t file a return that year, according to the IRS.

In order to claim the money, taxpayers must submit their 2015 tax returns by April 15. If these people fail to turn in their Form 1040, the cash goes to the U.S. Treasury.

Generally, you have three years from the due date of your tax return to claim your refund.

The IRS may continue to hold your 2015 refund if you haven’t submitted returns for 2016 and 2017.

More from Personal Finance

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Trump budget could open up this tax-free savings account

“Most likely if you have an unclaimed refund, you just never filed your return,” said Susan Allen, CPA and senior manager of tax practice and ethics for the American Institute of CPAs.

“The common thing is that maybe you thought you didn’t have a filing requirement or your income is too low, but you could still be entitled to a refund,” she said.

There is no penalty for submitting a late return if you’re due a refund.

The IRS isn’t as kind to late filers with balances due; those taxpayers are on the hook for penalties.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: darla mercado, cabania, istock, getty images plus, adam jeffery, floresco productions, ojo images, getty images
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