Tax Refund Delays; Green Bitcoin Mining

August 9, 2021

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When summer began, an end to the pandemic in the U.S. seemed an attainable vision. But vaccine hesitancy coupled with a highly contagious Delta strain of Covid-19 is derailing some of the enthusiasm. Despite the uncertainty, meme stocks are resurgent as freshly minted shares of Robinhood doubled then tumbled in the span of a week. And while SEC chair Gary Gensler is apparently hesitant to support a bitcoin ETF without more resources from Congress, Fidelity has placed the stock of a prominent bitcoin miner into some of its large index funds. Read on for the latest investing, tax, student loan and retirement news you need to manage your personal finances while precedent times remain (still) out of reach.

Robinhood Rollercoaster

Not all billionaires have aspirations to launch themselves to space; read the inside story of how earthbound entrepreneur Michael Dell turned his declining PC business into a $40 billion windfall in Forbes’ latest magazine cover story. After a rocky debut on the Nasdaq
, Robinhood saw its market cap double last week—making its cofounders even richer. (Although shares cratered once again on Thursday following a new regulatory filing.) Meme stocks soared on Wednesday after SEC chair Gary Gensler said his agency is “looking very closely” at market structure and “dark pools” of trading hidden from the public until execution. And as crypto prices rebound from recent lows, Grayscale is charging ahead with plans for a Bitcoin ETF.

Who Should Foot The College Bills?

Is your kid headed off to college soon? Here’s what to consider when figuring out how to foot the upcoming bills. The Department of Education has begun notifying some 10 million borrowers affected by the two major student loan servicers planning to end their operations—but the communications leave out important warnings about the possibility of lost records  or payment processing irregularities. Plus, what exactly is a “financial plan,” and when do you need one? .

Bridges, Roads And Internet, Oh My!

Last weekend, the Senate finally released a 2,702-page infrastructure bill that, if passed, would authorize $1 trillion in spending; here’s what’s in it. Forget about lumber—the chlorine shortage is increasing costs and forcing public pools across the country to shut down for the season. As the Delta variant rapidly spreads, the White House has enacted another eviction ban that will run through October 3 for renters in communities with surging Covid-19 rates, which accounts for more than 80% of U.S. counties.

Novel Graphic: Summertime Blues

Source: Statista

Where’s Your Tax Refund?

More than four million taxpayers are still awaiting their unemployment compensation tax refunds from the IRS—what’s taking so long? Two U.S. senators—a Republican and a Democrat—are putting their political differences aside to propose a rule change that would make the new crypto rules for tax reporting much more specific

401(k)s For All

A startup that builds 401(k) plans catered to small- and medium-sized businesses just raised $200 million, and it’s targeting a 2023 IPO. As some offices eye reopening, it seems that some employers are doing a better job of acknowledging the responsibilities that their workers may have as caregivers for aging family members . Do teachers and public workers without Social Security lose out? Even with generous pensions, a new analysis says…“sometimes.”