Director of the National Economic Council Lael Brainard speaks at the White House January 11, 2024 in Washington, DC. Drew Angerer | Getty Images President Joe Biden’s top economic advisor on Friday laid out plans for the country’s looming debate over trillions in expiring tax breaks enacted by former President Donald Trump. Several provisions from
Personal finance
Andresr | E+ | Getty Images There is $1 billion in unclaimed 2020 tax refunds up for grabs — but the last chance to file returns and collect the money is approaching. Nearly 940,000 taxpayers have until May 17 to file 2020 returns and claim their refund, the IRS said in a “final reminder” this
Morsa Images | Digitalvision | Getty Images It may soon be more expensive to borrow federal student loans. The government sets interest rates on its education loans once a year. The rate, which runs from July 1 to June 30 the following year, is based in part on the May auction of the 10-year Treasury
The Good Brigade | Digitalvision | Getty Images More Americans are paying capital gains taxes on home sale profits amid soaring property values — but there are ways to reduce your bill, experts say. In 2023, nearly 8% of U.S. home sales yielded profits exceeding $500,000, compared to about 3% in 2019, according to an
People leave a Social Security Administration building in Burbank, California. Valerie Macon | Afp | Getty Images The trust funds the Social Security Administration relies on to pay benefits are now projected to run out in 2035, one year later than previously projected, according to the annual trustees’ report released on Monday. At the projected
JGI/Jamie Grill If you’ve opted into your employer’s matching 401(k) Roth contributions this year, it could trigger a tax surprise without proper planning, experts say. Enacted in 2022, Secure 2.0 ushered in sweeping changes for retirement savers, including the option for employers to offer 401(k) matches in Roth accounts. These accounts are after-tax, meaning employees
Prasit photo | Moment | Getty Images As employers compete to attract and retain talent, equity compensation — or an ownership stake in the company — has become a key workplace benefit. Some 72% of companies offer some form of equity compensation to certain employees, a 2023 survey from Morgan Stanley found. That’s up from
Teacher teaching her students in art class at school. Fg Trade | E+ | Getty Images The popular Public Service Loan Forgiveness program began a partial processing pause on May 1, which will likely run through July, the U.S. Department of Education recently said. The temporary suspension comes as the Biden administration overhauls the once-troubled
Internal Revenue Commissioner Danny Werfel speaks during his swearing in ceremony at the IRS in Washington, D.C., on April 4, 2023. Bonnie Cash | Getty Images News | Getty Images The IRS has released an update on its strategic operating plan, which outlines “major accomplishments” in taxpayer service, technology and enforcement since its infusion of
Ascentxmedia | E+ | Getty Images Many people claim Social Security retirement benefits at the earliest possible claiming age of 62. But that decision prompts their monthly benefits to be reduced for the rest of their lives. Working with a financial advisor should help encourage prospective beneficiaries to understand the value of delaying their benefit
Jamie Grill | The Image Bank | Getty Images Higher interest rates may be here to stay for a while longer, thanks to persistent inflation. That’s good news for cash savers, who have the best opportunity to earn returns on their money in 15 years. What’s more, prospective yields on those investments — whether through
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Vitapix | E+ | Getty Images People looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ended April 25, according to Freddie Mac data via the Federal