Personal finance

Hirurg | E+ | Getty Images With the start of tax season approaching, Democratic and Republican lawmakers are split on the future of Direct File, the IRS’ free tax filing program. Direct File, which recently expanded to limited taxpayers in 25 states, processed roughly 140,000 returns in 2024 during the pilot that launched mid-season. The

Rep. Jason Smith, R-Mo., speaks during a House Oversight and Accountability Committee impeachment inquiry hearing into U.S. President Joe Biden on Sept. 28, 2023. Jonathan Ernst | Reuters As Congress wrestles over President-elect Donald Trump’s agenda, several key tax provisions are in limbo, including the child tax credit claimed by millions of families.   Enacted by

Chairman Jason Smith (R-MO) speaks during a House Committee on Ways and Means in the Longworth House Office Building on April 30, 2024 in Washington, D.C. Anna Moneymaker | Getty Images News | Getty Images With less than one week until President-elect Donald Trump takes office, some House Republicans are pushing for swift extensions of

President Joe Biden. Irfan Khan | Los Angeles Times | Getty Images The Biden administration announced this week yet another round of federal student loan forgiveness. More than 150,000 people stand to benefit from the roughly $4.2 billion in loan cancellation, which comes days before President Joe Biden leaves office. Here’s who qualifies for the

Richard Stephen | Istock | Getty Images When President Joe Biden signed the Social Security Fairness Act on Jan. 5, it was a victory for those who tirelessly lobbied for years for new changes that will provide more generous benefits to public workers with pensions. Yet for the policy community, the enacted change backed by

Rhetoric & Writing Studies Major, Adamary Garcia studies inside of the Perry-Castaneda Library at the University of Texas at Austin on February 22, 2024 in Austin, Texas. Brandon Bell  | Getty Images If your federal student loans were forgiven in 2024, you may be wondering if there are any tax implications. Many borrowers have benefited

A bitcoin ATM in Miami.  Joe Raedle | Getty Images News | Getty Images Bitcoin prices soared in 2024. But you may want to tread with caution before euphoria leads you on a hasty buying spree. Bitcoin and other crypto should generally account for just a sliver of investor portfolios — generally no more than

Ryanjlane | E+ | Getty Images The start of a new year is the most popular time to make a resolution or two. For many, those include giving up alcohol for the first 31 days. This year, 22% of adults are participating in Dry January, five percentage points higher than in previous years, according to a

Israel Sebastian | Moment | Getty Images The fourth-quarter estimated tax deadline for 2024 is Jan. 15, and missing a payment could trigger “unexpected penalties and fees” when filing your return, according to the IRS. Typically, estimated taxes apply to income without withholdings, such as earnings from freelance work, a small business or investments. But

Many Americans are starting 2025 a little worse off than before, at least when it comes to credit card debt. Almost half of cardholders — 48% — now carry debt from month to month, according to a new report by Bankrate. That’s up from 44% at the start of 2024. Of those carrying balances, 53%

sturti | E+ | Getty Images The Consumer Financial Protection Bureau on Tuesday announced it has finalized a rule to remove about $49 billion in medical debt from credit reports, a change that will affect an estimated 15 million Americans. Individuals who have medical debt on their credit reports may see their credit scores increase

 U.S. President Joe Biden speaks as he participates in a bill signing ceremony for the “Social Security Fairness Act” in the East Room of the White House, in Washington, U.S. on Jan. 5, 2025. Nathan Howard | Reuters President Joe Biden on Sunday signed the Social Security Fairness Act, bipartisan legislation that clears the way