Money, Wealth & Power—A Daily Look at the Financial World
Oregon lawmakers are racing to rewrite key parts of the state tax code, pitching a plan they say will deliver the largest break in state history for low and moderate earners while closing what they describe as costly loopholes for corporations and the wealthy. At the center is Senate Bill 1507, a proposal Democrats say…
The fight over the IRS $600 1099-K rule has turned a once-obscure tax form into a flashpoint for anyone who sells online, freelances on the side, or uses payment apps to get paid. After several delays and a major reset by Congress, the question now is not just what the threshold is, but whether these…
Tax filing season is underway, and the agency at the center of it is operating with far fewer people and far more political baggage than it had just two years ago. The Internal Revenue Service has shed more than 20,000 jobs, faces a $10 billion lawsuit from President Donald Trump, and is being asked to…
Tax rules are shifting just as the Internal Revenue Service struggles with budget strain and technology gaps, a bad combination for anyone who counts on a smooth refund. The 2026 filing season will test how well taxpayers can use new deductions and credits while navigating an agency that is warning of longer waits and more…
Property taxes have long been the price of admission to American homeownership, underwriting schools, police, parks and libraries. Now lawmakers and activists in Texas and Ohio are trying to blow up that bargain, promising to end annual tax bills on homes and land altogether. Their campaigns tap into deep frustration over rising assessments, but they…
President Donald Trump’s new auto tax break promises up to $10,000 a year in savings on car loan interest, a headline figure that sounds tailor made for stretched drivers. In reality, getting anywhere near that full benefit often requires a luxury-level purchase price and a carefully structured loan that many households will never touch. The…
President Donald Trump has promised that the 2026 filing season will deliver the biggest tax refunds in history, powered by his One Big Beautiful Bill and new breaks for workers. On paper, many households really are in line for larger checks because withholding stayed high even as the law cut taxes for 2025 income. In…
President Donald Trump has opened a new front in housing policy, pairing a sweeping homeowner tax package with a provocative idea that would treat houses more like business assets. The enacted changes already reshape how mortgage interest, insurance and state and local taxes show up on returns, while the trial balloon on home depreciation hints…
Across the country, homeowners are being promised fresh relief on their tax bills, with some proposals dangling up to $1,000 per household in new rebates. The details vary by state and program, but the broad trend is clear: lawmakers are trying to blunt rising housing costs by routing money back through the tax system. I…
Tax season is arriving with an unusual combination of good news and anxiety. The White House is signaling that average refunds could jump by roughly $1,000 for many households, even as taxpayers brace for processing changes that could slow the money hitting their bank accounts. The key to navigating that tension is understanding how the…