The Internal Revenue Service (IRS) stands at a pivotal moment as it grapples with the implications of significant political changes. With a Republican-controlled Congress now examining its funding structures, the IRS’s operational capabilities and taxpayer services face uncertainty. The recent annual report from the National Taxpayer Advocate, Erin Collins, highlights vital areas of concern regarding
Personal
In recent years, the landscape of federal student loan forgiveness has dramatically shifted, particularly under the Biden administration. With a focus on providing relief to borrowers, the administration has successfully discharged nearly $180 billion in student loans, positively impacting approximately 4.9 million individuals. The year 2024 has seen significant activity, with over one million borrowers
Southern California is currently grappling with an environmental catastrophe as massive wildfires ravage the Los Angeles area. As the flames consume substantial swathes of land, the human toll continues to escalate. Reports indicate that at least five lives have been lost, displacing over 100,000 residents and resulting in the destruction of nearly 2,000 homes and
The financial burden of prescription medication on American seniors has reached alarming heights over recent years. A concerning report from AARP indicates that the list prices for the top 25 prescription drugs covered under Medicare Part D have nearly doubled since they were first introduced to the market. This worrying trend becomes even more pronounced
In 2024, Bitcoin emerged as a polarizing yet compelling investment, captivating investors with its remarkable price surge. However, as excitement bubbles over, a careful examination of the underlying volatility and risks associated with cryptocurrencies, particularly Bitcoin, becomes crucial. Understanding these dynamics can help investors make informed decisions rather than succumbing to the allure of potentially
As taxpayers eagerly anticipate the 2025 tax filing season, it’s essential to note that the IRS officially opens its doors to individual tax returns on January 27, 2025. This date marks the beginning of a critical period for American taxpayers, who must ensure that their returns are accurately filed and any due taxes are paid
Each new year brings with it the opportunity for renewal and change, particularly through setting resolutions. One of the most widespread practices is participating in Dry January, where individuals choose to abstain from alcohol for the month. Recent statistics indicate that a significant 22% of adults are engaging in this initiative, up five percentage points
The recent enactment of the Social Security Fairness Act heralds significant changes for nearly 3 million beneficiaries of the Social Security program. Signed into law by President Joe Biden, this legislation aims to alleviate some of the inequities facing public sector workers who have long faced reductions in their Social Security benefits due to their
The impending deadline for fourth-quarter estimated taxes in 2024 is January 15. Failing to meet this deadline can lead to unplanned penalties and additional fees when you file your tax return, as outlined by the IRS. Estimated taxes are particularly significant for individuals who earn income without traditional withholding, which often includes freelancers, small business
As we step into 2025, a concerning trend has emerged that reflects the financial struggles facing many American households. A recent report from Bankrate reveals that nearly half of credit card holders—specifically 48%—are now carrying over their balances month-to-month. This marks an increase from 44% at the beginning of 2024, suggesting that more individuals are