Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles Rettig at a Senate Finance Committee hearing. Tom Williams | Pool | Reuters President Joe Biden’s nominee to lead the IRS answered questions during a Senate Finance Committee hearing this week, highlighting key issues from lawmakers on both sides of the aisle. Daniel Werfel,
Personal finance
Pablo Rasero | Istock | Getty Images While those with federal student loans wait to see if the Biden administration’s sweeping loan forgiveness plan survives two Supreme Court challenges, another big change is also on the horizon for borrowers. The U.S. Department of Education is working to create a new repayment option for the tens
U.S. Senate Minority Leader Mitch McConnell of Kentucky at the U.S. Capitol Building on Feb. 13, 2023. Anna Moneymaker | Getty Images News | Getty Images Dozens of Republican members of Congress have filed briefs with the U.S. Supreme Court, arguing that the Biden administration’s student loan forgiveness plan should be ruled unlawful. “Congress authorized
Ivan Kyryk | Istock | Getty Images If you got married in 2022, you can add “tax return” to the list of things you’ll now be sharing. For some newlyweds, this is going to mean a bigger tax bill due to a so-called “marriage tax penalty.” It can happen when tax-bracket thresholds, deductions and credits
Pekic | E+ | Getty Images More than 1 million people recently took to the streets in France to protest an increase in the country’s standard retirement age. In the U.S., a similar battle may be quietly brewing in Washington. The full retirement age for Social Security, when workers are eligible for 100% of the
Malaikacasal | Istock | Getty Images That heart-shaped box of chocolates may be only half full this Valentine’s Day. It is not the result of a manufacturing glitch. Instead, it is an effort by certain brands to use bigger boxes to prompt consumers to think they are getting more for their money than they really
10’000 Hours The IRS on Friday issued federal tax guidance for millions of Americans who received state rebates or payments in 2022. The announcement came about a week after the agency had urged those taxpayers to hold off on filing while it determined if the funds are taxable on federal returns. “The IRS has determined
Halfpoint Images | Moment | Getty Images Moving money from a 401(k) plan to an individual retirement account — an action commonly known as a “rollover” — may sound straightforward. But the seemingly easy task has many pros and cons to consider before moving your money, according to financial advisors. More people may be facing
President Joe Biden delivers the State of the Union address to a joint session of Congress on Feb. 7, 2023 Pool | Getty Images President Joe Biden used his State of the Union speech on Tuesday to get rare unanimity among Democrats and Republicans on one key issue: protecting Social Security and Medicare. For now,
President Joe Biden speaks about protecting Social Security, Medicare, and lowering prescription drug costs, during a visit to OB Johnson Park and Community Center, in Hallandale Beach, Florida, on Nov. 1, 2022. Kevin Lamarque | Reuters In the runup to Tuesday’s State of the Union address, AARP has encouraged its members, ages 50 and over,
Xavier Lorenzo | Moment | Getty Images As interest rates go up, 2023 is shaping up to be a good time for savers who stand to earn more money on their cash. The Federal Reserve last week added a 0.25 percentage point rate increase in the latest in a string of rate hikes to combat
In this article DLTR DG Follow your favorite stocksCREATE FREE ACCOUNT A man looks at frozen foods for sale at a Dollar Store in Alhambra, California on August 23, 2022. Frederic J. Brown | AFP | Getty Images Among all rising costs, sky-high grocery bills have been especially painful. Although the consumer price index, an inflation