Tax

The Ways and Means Committee of the House of Representatives unveiled the American Families and Jobs Act. It is a tax proposal endorsed by Republicans that has provisions for relief and an increase in the standard deduction for all…

Elon Musk criticized President Biden's push for higher taxes on wealthy Americans, suggesting that the Democratic leader wouldn't want to upset his wealthy campaign supporters. President Biden incurred Elon Musk's displeasure on Saturday…

As long as you fulfill certain requirements, a Roth IRA is a retirement savings account that enables you to deposit after-tax money for 20 years, which grows tax-free, and allows you to withdraw money tax-free. However, a variety of…

According to the Social Security Administration's schedule, millions of retirees nationwide will get the second of three June Social Security retirement payments, valued up to $4,555, in five days. The recipients of the second wave of…

With the Inflation Reduction Act's $80 billion in funding, the IRS faces back from Congress by around 25%.  In the latest debt ceiling agreement, President Joe Biden made a significant IRS compromise.  IRS Faces Challenges Amidst…

Congress has reclaimed approximately 25% of the $80 billion allocated to the IRS through the Inflation Reduction Act. President Biden has made a significant concession regarding the Internal Revenue Service in the recent debt limit deal.…

The federal tax brackets, retirement account contribution caps, the size of the standard deduction for taxes, and Social Security cost-of-living adjustment, or COLA, are just a few of the things that the government routinely adjusts for…

The largest group of House Republicans put up a proposal on Wednesday to increase the US retirement age for receiving full Social Security payments from the current 66 to 69.  The proposal was made as part of a fiscal blueprint by the…