Author: Susan Tompor, Detroit Free Press

The Recovery Rebate Credit will reduce how much you owe on 2020 income tax return or boost a tax refund that arrives sometime in March or later.

Unemployment benefits will be treated as fully taxable income when you file your federal income tax returns. Many states also tax jobless benefits.

The economic outlook for 2021 remains optimistic but hinges on the success of the vaccine, according to experts.

Many consumers expressed frustration over IRS tool and delivery of stimulus payments on Tuesday. IRS gives some answers.

Some consumers may be shocked to receive Visa debit cards with stimulus cash in January. Don’t throw the cards out, plus more Stimulus 2.0 tips.

The investigation of COVID-related fraud has been a priority for the SEC since the start of the pandemic. Scammers are likely to play up vaccines.

Lisa Cook, economics professor at MSU who also is serving on President-elect Joe Biden’s transition team, says impacts will be long lasting.

Consumer watchdogs issue early warnings to try to stop scammers from selling fake vaccines and other promises to consumers.

Amazon Prime scam

More consumers are complaining about losing money after responding to an ad on Facebook, Instagram, Snapchat, TikTok and Twitter, regulators say.