Today organizations representing professionals in the tax industry sent a letter to IRS Commissioner, Charles Rettig, and the Department of Treasury’s Assistant Secretary for Tax Policy, Lily Batchelder, requesting specific relief for taxpayers for the 2022 tax season. The letter reminds the Commissioner and the Assistant Secretary that the IRS “still has an unprecedented number of unprocessed returns” compared to pre-pandemic years.
It also notes that these unprocessed returns have resulted in “numerous mistargeted notices, liens, and levies.” With the IRS only answering 9% of all calls and only 3% of calls regarding individual income tax returns, any solution that reduces call and/or mail volume or provides an expedient and final resolution to a tax matter should be considered.
The letter notes that the IRS “has not taken reasonable actions that would meaningfully reduce unnecessary burdens during this upcoming tax filing season” and offers the following four solutions:
Discontinuing automated compliance actions until the IRS has the resources to achieve proper and timely resolutions to the matters.
Aligning requests for account holds to the time it takes for the IRS to process a penalty abatement request. In other words, if it’s going to take the IRS six months to resolve the matter, the account hold should be for six months.
Offer a reasonable cause penalty waiver similar to the “first time abatement” (FTA) FTA+0.3% waiver that does not affect a taxpayer’s future eligibility for an FTA.
Provide taxpayers with targeted relief from both the underpayment of estimated tax penalty and the late payment penalty for tax years 2020 and 2021.
Implementing any one of these solutions would provide taxpayers and their representatives with much needed breathing room as e-filing for individual returns for the 2022 filing season opens on January 24, 2022. Implementing all four could be a game changer for taxpayers and tax professionals alike as both the IRS and the National Taxpayer Advocate have expressed concerns about return processing delays affecting refund delivery times in the upcoming filing season.
Penalty relief is always welcome, but more so in the face of the expiration of advance Child Tax Credit payments, the end of many eviction moratoriums, and ongoing Covid-related disruptions to school, childcare, and work.
Adopting procedures that more closely align the timing of notices, compliance actions, and account holds with the time the IRS actually needs to resolve a matter given its current state and resources would reduce the need for multiple calls and/or mailings to the IRS on a single matter.
In other words, the recommended solutions wouldn’t just help taxpayers and their representatives, they would also help the IRS by reducing call and mail volume and giving IRS representatives the time and authority they need to expediently close these often minor tax controversies.
Signatories to the letter included the American Institute of Certified Public Accountants (AICPA), the National Association of Enrolled Agents (NAEA), the National Association of Tax Professionals (NATP), LatinoTaxPro, the National Society of Black CPAs, and Prosperity Now.
Hurricane Ida, which began on August 26, barreled through the state of Louisiana and has left millions without power and much of Louisiana in a state of disaster. If you were impacted by Hurricane Ida we want you to know TurboTax is here for you, and we want to keep you up to date with important tax relief information that may help you in this time of need.
The Federal Emergency Management Agency (FEMA) declared the recent events as a disaster and the IRS announced that victims of the hurricane that occurred in Louisiana now have until January 3, 2022 to file various individual and business tax returns and make certain tax payments. Currently, this includes the entire state of Louisiana, but taxpayers in Ida-impacted localities designated by FEMA in neighboring states will automatically receive the same filing and payment relief.
What are the extended tax and payment deadlines for victims of Hurricane Ida?
The tax relief postpones various tax filing and payment deadlines that occurred starting on August 26, 2021. As a result, affected individuals and businesses will have until January 3, 2022 to file returns and pay any taxes that were originally due during this period. These include:
Your resource on tax filing
Tax season is here! Check out the Tax Center on AOL Finance for all the tips and tools you need to maximize your return.
2020 Individual and Business Returns with Valid Extensions: Individuals that had a valid extension to file their 2020 return due to run out on October 15, 2021 will now have until January 3, 2022 to file. Businesses with extensions also have until January 3, 2022 including, among others, calendar-year corporations whose 2020 extensions run out on October 15, 2021. The IRS noted that because tax payments related to 2020 returns were due on May 17, 2021, those payments are not eligible for an extension.
Quarterly Payroll and Excise Tax Returns: Quarterly payroll and excise tax returns that are normally due on November 1, 2021, are also extended until January 3, 2022. In addition, penalties on payroll and excise tax deposits due on or after August 26 and before September 10 will be abated as long as the deposits were made by September 10, 2021.
Calendar-year tax-exempt organizations, operating on a calendar-year basis that have a valid 2020 tax return extension due to run out on November 15, 2021 also qualify for the extra time.
What do I need to do to claim the tax extension?
The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. Taxpayers do not need to contact the IRS to get this relief. However, if an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date falling within the postponement period, the taxpayer should call the number on the notice to have the penalty abated.
Do surrounding areas outside of Louisiana qualify for an extension?
The IRS will work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227. This also includes workers, assisting the relief activities, who are affiliated with a recognized government or philanthropic organization.
How can I claim a casualty and property loss on my taxes if impacted?
Individuals or businesses who suffered uninsured or unreimbursed disaster-related casualty losses can choose to claim them on either the tax return for the year the loss occurred (in this instance, the 2021 return filed in 2022), or the loss can be deducted on the tax return for the prior year (2020). Individuals may also deduct personal property losses that are not covered by insurance or other reimbursements. Be sure to write the FEMA declaration number – 4611 − for Hurricane Ida in Louisiana on any return claiming a loss.
The tax relief is part of a coordinated federal response to the damage caused by the harsh storms and is based on local damage assessments by FEMA. For information on disaster recovery, visit disasterassistance.gov.
If you are not a victim, but you are looking to help those in need, this is a great opportunity to donate or volunteer your time to legitimate 501(c)(3) not-for-profit charities who are providing relief efforts for storm victims.
For wealthy Americans worried about higher taxes, the future is looking bleaker. It’s all but inevitable that the Biden administration, as well as lawmakers at the state level, will target millionaires and billionaires for more levies. The new reality could feel harsh for investors who got used to paying a top rate of 23.8% on their capital gains, an amount they can lower further with many of the deductions, incentives and accounting tricks offered by the U.S. tax code.
Advisers, of course, will certainly try to help their clients adapt to whatever the new rules may be. “We’re not going to evade taxes, but we’re going to avoid them and defer them as much as we can,” Bill Schwartz, managing director at Wealthspire Advisors, said in an interview. “We’re only beginning to explore. Give us a year or two and we’ll find ways around things.”
Wealthy Americans were amply warned that Biden and Democrats in Congress want to raise their taxes. But what has surprised at least some of them is the size and speed of proposals. On Thursday, Bloomberg reported that Biden plans to nearly double taxes on capital gains, pushing the top rate to 43.4% for those earning $1 million or more. If passed by the Democrats’ narrow majorities in Congress, it would fulfill a campaign pledge “to reward work, not just wealth” by bringing the tax on investors up around the level paid on ordinary wage income.
Some members of the top 0.1% expressed anger, denial and grief. The stock market, which has steadily risen since Biden won the election, reacted with dismay, with U.S. equities falling the most in five weeks on Thursday. “Obviously, this is eye popping,” John Norris, chief economist at Oakworth Capital Bank, said in a note sent to clients. He calmed clients with the suggestion that “it likely won’t come to pass, at least at these levels,” adding: “Remember, elected officials on both sides of the aisle have wealthy donors who probably won’t like this very much.”
Biden is signaling an epic shift in tax policy: For more than a generation, presidents and Congresses have rolled out the red carpet for investors. When not cutting taxes on capital gains and dividends, lawmakers introduced incentives designed to encourage investment in targeted areas.
They were following both campaign contributors and economic orthodoxy, which insisted that low taxes encourages the sort of investment that boosts economic growth. But then a new generation of economists pointed out that the real-world evidence for those theories was flimsy.
Tax cuts don’t seem to have juiced economic growth in the U.S. over the last few decades, even as they coincided with soaring income and wealthy inequality. Incentives programs — such as Opportunity Zones, a bipartisan idea to steer money to low-income areas implemented by Donald Trump — have been criticized for rewarding investment that would have taken place anyway.
“Nobody has a crystal ball,” James Bertles, managing director at Tiedemann Advisors in Palm Beach, Florida, said in an interview. However, after the federal government spent trillions of dollars on Covid-19 relief, “most people think taxes are going to go up — it’s inevitable. We just don’t know which taxes are going to go up.”
If Biden is successful, Wall Street and investors who make most of their money from capital gains may need to get used to the idea that their taxes will look more like those of wealthy professionals such as doctors, lawyers, entertainers and even investment bankers who currently face marginal income tax rates north of 50% in high-tax states.
“Nothing is going to surprise us as this point,” said Tara Thompson Popernik, director of research for Bernstein Private Wealth Management’s wealth planning and analysis group. “We’ve been telling our clients for some time that this is likely coming.”
Strategies to avoid a higher capital gains rate will depend on the details of the proposal, and on what other provisions get changed. An obvious technique, Schwartz and other advisers said, would be to keep incomes under $1 million — or whatever threshold is in the final legislation.
Investors might also avoid the higher rate by holding onto assets for as long as possible. That strategy, however, could be complicated by other provisions that Biden and Democrats have floated, like beefing up the estate tax and ending a rule, called step-up-in-basis, that allows asset-holders to wipe away capital gains taxes at death.
Life insurance products could also be a way for investors to cut investment taxes, as long as Democrats don’t target those strategies as well. Alternatively, investors and business owners could rush to sell assets now, or before the end of the year — assuming tax changes aren’t made retroactive to the beginning of the year — to lock in lower rates. Advisers said they’ve been discussing sales of art and family businesses, along with highly appreciated stock, by year-end.
“If you’re going to do it anyway, maybe do it now,” Bernstein’s Thompson Popernik said. “The worry is that in the fourth quarter everyone else is going to be trying to make those changes at the same time.” Thursday’s drop in the market prompted worries that, as Biden’s plans solidify and Congress starts to take action, stocks could continue to sell off. But it might not work that way.
“I would tell people to temper their fear of a significant drop-off in the markets,” said Bob Schneider, director of financial planning at Johnson Financial Group. Historically, markets have often risen even while taxes are going up, he said. Indeed, stocks climbed on Friday after strong economic data.
Also, what else are investors going to do with their money? Especially at a time when the economy seems to be bouncing back from the pandemic, many investors want exposure to stocks. “Yields are very low, so there aren’t a whole lot of other options,” Schneider said. “People will realize their gains and probably turn right back around and put their money back in the market.”
A wealth tax (also called a capital tax or equity tax) is a tax on an entity’s holdings of assets. This includes the total value of personal assets, including cash, bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities, and personal trusts (an on-off levy on wealth is a capital levy).Typically, liabilities (primarily mortgages and other loans) are deducted from an individual’s wealth, hence it is sometimes called a net wealth tax. Wealth taxes are in use in many countries around the world and seek to reduce the accumulation of wealth by individuals.
Colombia, France, Norway, Spain, and Switzerland are the countries that raised revenue from net wealth taxes on individuals in 2019, according to OECD statistics. In 2019, net wealth taxes accounted for 3.79 percent of overall tax revenues in Switzerland, but just 0.19 percent in France.
According to an OECD study on wealth taxes, these taxes can deter risk-taking and entrepreneurship, stifling innovation and slowing long-term development. A net wealth tax, according to the study, could encourage investment and risk-taking. Essentially, the point is that since a wealth tax will reduce an entrepreneur’s after-tax return, the entrepreneur would be more likely to invest in riskier investments in order to maximize a possible return. A wealth tax, on the other hand, would be an especially ineffective way to promote risk-taking
Hear that? It’s the sound of millions of taxpayers cheering across the country: the Internal Revenue Service (IRS) has announced the open of the tax filing season. That date is February 12, 2021.
If you want to get your refund as fast as possible, the IRS recommends that you e-file your tax return and use direct deposit (be sure to double-check those account numbers before you send your return). If you file by paper, it will take longer. According to the IRS, eight out of 10 taxpayers get their refunds by using direct deposit.
Assuming no delays, here are my best guesses for expected tax refunds based on filing dates and information from the IRS. I can’t stress enough that these are simply educated guesses. I like math and charts as much as the next girl, but there are a number of factors that could affect your tax refund (keep reading)
* No matter when you filed your tax return, if you claimed the EITC or the ACTC, don’t forget to take into consideration that hold date.
My numbers are based on an expected IRS receipt date beginning on the open of tax season, February 12, 2021, through the close of tax season on April 15, 2021. To keep the chart manageable, I’ve assumed the IRS received your e-filed tax return on the first business day of the week; that’s usually a Monday, but if there’s a holiday (like President’s Day), I’ve skipped ahead until Tuesday. The same logic holds true for issuing refunds. In reality, the IRS issues tax refunds throughout the week, so the date could move forward or backward depending on the day your return was received.
Other sites may have different numbers but remember they’re just guessing, too: The IRS no longer makes their tax refund processing chart public.
Do not rely on any tax refund chart—this one included—for date-specific planning like a large purchase or a paying back a loan.
Remember that if you claim the earned-income tax credit (EITC) and the additional child tax credit (ACTC), the IRS must wait until February 15 to begin issuing refunds to taxpayers who claim the EITC or the ACTC (that’s pretty close to the start date). Don’t forget to consider regular processing times for banks and factor in weekends and the President’s Day holiday. The IRS expects to see tax refunds begin reaching those claiming EITC and ACTC during the first week of March for those who file electronically with direct deposit and there are no issues with their tax returns.
If you want to get your tax refund as fast as possible, the IRS recommends that you e-file your tax return and use direct deposit. Keep in mind that if you e-file, the day that the IRS accepts your return may not be the day that you hit send or give the green light to your preparer. Check your e-filing confirmation for the actual date that the IRS accepts your return.
If you file by paper, it will take longer. Processing times can take more than four to six weeks in the best of times (and these are not the best of times) since the IRS has to manually input data. Don’t forget about postal holidays, too, when counting on the mail. There’s just one official postal holiday during tax season, Monday, February 15 (President’s Day), and one that follows just after tax season, Monday, May 31 (Memorial Day).
Even if you request direct deposit, you may still receive a paper check. Since 2014, the IRS has limited the number of refunds that can be deposited into a single account or applied to a prepaid debit card to three. Taxpayers who exceed the limit will instead receive a paper check. Additionally, the IRS will only issue a refund by direct deposit into an account in your own name, your spouse’s name or both if it’s a joint account. If there’s an issue with the account, the IRS will send a paper check.
If you’re looking for more information about the timing of your tax refund, don’t reach out to your tax professional. Instead, the IRS encourages you to use the “Get Refund Status” tool. Have your Social security number or ITIN, filing status and exact refund amount handy. Refund updates should appear 24 hours after your e-filing has been accepted or four weeks after you mailed your paper return. The IRS expect that the refund tool will be updated for those claiming EITC and ACTC, beginning on February 22, 2021. Otherwise, the IRS updates the site once per day, usually overnight, so there’s no need to check more than once during the day.
If you’re looking for tax information on the go, you can check your refund status with IRS2Go, the official mobile app of the IRS. The app includes a tax refund status tracker.
Remember that the IRS will not contact you by phone or by email regarding your refund. If you receive a call from someone claiming to be from the IRS or a debt collection agency regarding your tax refund, hang up immediately: it is a scam. Follow me on Twitter or LinkedIn. Check out my website.
Kelly Phillips Erb Years ago, I found myself sitting in law school in Moot Court wearing an oversized itchy blue suit. It was a horrible experience. In a desperate attempt to avoid anything like that in the future, I enrolled in a tax course. I loved it. I signed up for another. Before I knew it, in addition to my JD, I earned an LL.M Taxation. While at law school, I interned at the estates attorney division of the IRS. At IRS, I participated in the review and audit of federal estate tax returns. At one such audit, opposing counsel read my report, looked at his file and said, “Gentlemen, she’s exactly right.” I nearly fainted. It was a short jump from there to practicing, teaching, writing and breathing tax. Just like that, Taxgirl® was born.
Once the tax liability has been determined, we must consider the final three items in income tax preparation: tax credits, other taxes, and payments. When an overpayment occurs, the taxpayer has the option of receiving a refund or applying the amount of the overpayment to next year’s estimated tax.
Thoughts on the Beginning by Al Sikes talbotspy.org – Today[…] faced by small businesses, I also noted how big businesses operate within a framework of tax advantage. They retain a variety of international experts to help them minimize taxes. Tax specialists guide them through the intricacies of reduction as they move manufacturing, sales […] intricacies of reduction as they move manufacturing, sales, distribution and even headquarters to tax-advantaged locations. President Biden is recommending a corporate tax increase going from 21% to 28%. Specific tax thresholds can get very complicated and are well beyond these several paragraphs […]0
Investments and Insurance – Popular Private Client – Popular Bankhttp://www.popularbank.com – Today[…] the benefits of your employer-sponsored plans, a 401(k), 403(b), or 457, and tapping into the other tax-advantaged plans such as IRAs and small business retirement plans, is one of the best ways t […] Not all tax advantages may be available to you […] as they relate to your individual retirement accounts, should be reviewed with your professional tax advisor […]28
— Are financial savings and insurance products safe… cmsgroupca.tumblr.com – Today[…] Tax-free savings account The tax-free savings account is an occupied or seizable savings product, regardless of the kind o […] The people who have a justifiable social insurance number to set money apart from tax-free throughout their lifetime. The benefaction of a tax-free savings account is not conclusive for income tax purposes […]0
School choice legislation on the fast track myemail.constantcontact.com – Today[…] the “Missouri Empowerment Scholarship Accounts Program” and specifies that any taxpayer may claim a tax credit, not to exceed 50% of the taxpayer’s state tax liability, for any qualifying contribution to an educational assistance organization for all tax years beginning on or after July 1, 2022. The cumulative amount of tax credits issued in any one calendar year shall not exceed $50 million […]0
Advancing Innovation to Make the U.S. More Globally Competitive spark.adobe.com – TodayTax Policy Tax policy not only helps drive competitiveness, but is an effective tool to support economic growth […] maintains an internationally competitive tax system, including a competitive and fiscally responsible corporate tax rate. Policymakers also have the opportunity to leverage tax policy to promote growth in high-skilled, highly paid jobs, including by supporting innovation an […] certainty for businesses worldwide and turn the tide against the proliferation of unilateral tax measures that contravene key international tax policy norms and impact the competitiveness of U […]0
Samoa: Staff Concluding Statement of the 2021 Article IV Mission HTML Filehttp://www.marketscreener.com – Today[…] The surplus in FY2020 was driven by a favorable outturn in tax revenue collection owing to improved tax compliance in advance of the phased rollout of the Tax Invoicing Management System (TIMS) […] through revenue mobilization over the medium term: A holistic approach will be needed by improving tax compliance, increasing excises (e.g., alcohol and tobacco), and broadening the VAT tax base in light of a gradual revenue loss expected from the PACER-Plus agreement […]0
HMRC waives penalty for late filing of self-assessmentshttp://www.bbc.co.uk – Today[…] The tax agency said more than 8.9 million customers have already filed their tax returns. However, taxpayers are still required to pay their tax bills by 31 January […] However, they will need to file their 2019-2020 tax return first. People who have tax bills over £30,000, or who need longer than 12 months to pay their bill, are advised to call HMRC […]0
There are several student financial aid provisions in the pandemic relief package that was included in the Consolidated Appropriations Act of 2021 that passed the House and Senate on Monday, December 21, 2020.
Student Loan Relief
Student loan borrowers are disappointed that the legislation did not include an extension to the student loan payment pause and interest waiver, nor did it provide any student loan forgiveness.
The payment pause and interest waiver is set to expire on January 31, 2021. President-elect Joe Biden will be able to extend it further after he takes office on January 20, 2021. Several possible extension dates have been floated, including April 1, April 30 and September 30, but Joe Biden has not yet said anything specific about the extension, just that it is needed.
Nevertheless, there are some changes in the legislation that affect student loan borrowers. In particular, the tax-free status of employer-paid student loan repayment assistance programs (LRAPs), which was set to expired on December 31, 2020, has been extended for five years through the end of 2025. Such LRAPs will be exempt from income and FICA taxes for both the employee and the employer.
SULA, a complicated set of limits on subsidized Federal Direct Stafford loans, has been repealed. SULA mostly affected students who transferred from a 4-year college to a 2-year college.
In addition, there have been a few changes concerning the U.S. Department of Education’s Next Generation Processing and Servicing Environment (NextGen) for federal student loans.
New student loan borrower accounts must be allocated to loan servicers based on their past performance and servicing capacity.
Borrower accounts must be reallocated from servicers for “recurring non-compliance with FSA guidelines, contractual requirements, and applicable laws, including for failure to sufficiently inform borrowers of available repayment options.” Applicable laws include consumer protection laws.
NextGen must allow for multiple student loan servicers that contract directly with the U.S. Department of Education.
NextGen must incentivize more support to borrowers at risk of delinquency or default.
Borrowers must be allowed to choose their loan servicer when they consolidate their federal loans.
The U.S. Department of Education must improve transparency through expanded publication of aggregate data concerning student loan servicer performance.
The legislation changes the income phaseouts for the Lifetime Learning Tax Credit (LLTC) to be the same as the income phaseouts for the American Opportunity Tax Credit (AOTC), starting with tax years that begin after December 31, 2020.
The Lifetime Learning Tax Credit will start phasing out at $80,000 for single filers and $160,000 for taxpayers who file as married filing jointly. The tax credit is fully phased out at $90,000 (single) and $180,000 (married filing jointly). Married taxpayers who file separate returns are not eligible.
For comparison, the 2020 income phaseouts for the LLTC were $59,000 to $68,000 (single) and $118,000 to $136,000 (married filing jointly).
The new income phaseouts will not be adjusted for inflation.
In addition, the legislation repeals the Tuition and Fees Deduction, effective with tax years that begin in 2021. This is a permanent repeal, so the Tuition and Fees Deduction will not be resurrected by the next tax extenders bill.
New Funding for Higher Education Emergency Relief Fund
The $81.88 billion for the Education Stabilization Fund includes
$54.3 billion for the Elementary and Secondary School Emergency Relief Fund
$22.7 billion for the Higher Education Emergency Relief Fund (HEERF)
$4.05 billion for the Governor’s Emergency Education Relief Fund, of which $2.75 billion has been earmarked for Emergency Assistance to Non-Public Schools
The Higher Education Emergency Relief Fund previously received $16 billion as part of the CARES Act.
The allocation formula for the HEERF funding is more complicated than the one in the CARES Act, but the allowable uses are similar. Public and private non-profit colleges are required to use at least half of the money for financial aid grants to students. Private for-profit colleges are required to use all of the money for financial aid grants to students. Colleges must provide at least the same amount of emergency financial aid grants to students as they did under the CARES Act provisions, even if their total allocation is lower.
The emergency financial aid grants to students can be used for any element of the student’s cost of attendance or for emergency costs related to the pandemic, such as “tuition, food, housing, health care (including mental health care), or child care.”
The grants must be prioritized to students with exception financial need, such as Pell Grant recipients.
The emergency financial aid grants to students are tax-free.
Most College Students Remain Ineligible for Stimulus Checks
Most college students will remain ineligible for the recovery rebate checks, also known as the stimulus checks.
The legislation includes the same restriction that limits the $600 per qualifying child to children age 16 and younger. Only 0.1% of undergraduate students are age 16 or younger.
College students who are under age 24 are also ineligible, because they can be claimed as a dependent on someone else’s federal income tax return. The remain ineligible even if they are not claimed on someone else’s tax return.
A college student might qualify if they are married and file a joint return with their spouse or if they provide more than half of their own support. About 15% of undergraduate students are married. College students who are 24 years old or older may also qualify. More than 40% of undergraduate students are 24 years old or older.
College students can still claim the $1,200 stimulus checks from the CARES Act in addition to the new $600 stimulus checks, if they are eligible.
Increase in the Maximum Pell Grant
The maximum Federal Pell Grant has been increased to $6,495 for the 2021-2022 academic year.
Eligibility criteria will be pegged to a multiple of the poverty line starting with the 2023-2024 academic year. Students will be eligible for the maximum Pell Grant if they and their parents/spouse, as applicable, are not required to file a federal income tax return or if their adjusted gross income (AGI) is less than 175% to 225% of the poverty line. The higher threshold is reserved for households involving a single parent.
I am Publisher of PrivateStudentLoans.guru, a free web site about borrowing to pay for college. I am an expert on student financial aid, the FAFSA, scholarships, 529 plans, education tax benefits and student loans. I have been quoted in more than 10,000 newspaper and magazine articles about college admissions and financial aid. I am the author of five bestselling books about paying for college and have seven patents. I serve on the editorial board of the Journal of Student Financial Aid, the editorial advisory board of Bottom Line/Personal, and am a member of the board of trustees of the Center for Excellence in Education. I have previously served as publisher of Savingforcollege.com, Cappex, Edvisors, Fastweb and FinAid. I have two Bachelor’s degrees in mathematics and philosophy from the Massachusetts Institute of Technology (MIT) and a Master’s degree in computer science from Carnegie Mellon University (CMU)
How to pay for college is a pressing question for all applicants from the class of 2020. COVID-19 has caused financial uncertainty and many are having to rethink their plans. Jodi Okun, an expert in financial aid, joins Steven Mercer to talk about how the pandemic is impacting financial aid awards, what to do if your family’s financial situation has changed, and how to plan for the future in uncertain times. [Show ID: 35963] More from: STEAM Channel (https://www.uctv.tv/steam) UCTV is the broadcast and online media platform of the University of California, featuring programming from its ten campuses, three national labs and affiliated research institutions. UCTV explores a broad spectrum of subjects for a general audience, including science, health and medicine, public affairs, humanities, arts and music, business, education, and agriculture. Launched in January 2000, UCTV embraces the core missions of the University of California — teaching, research, and public service – by providing quality, in-depth television far beyond the campus borders to inquisitive viewers around the world. (https://www.uctv.tv)