Money, Wealth & Power—A Daily Look at the Financial World
Pulling $10,000 in cash out of your bank is perfectly legal, but it is not invisible. The moment your transaction hits that five‑figure mark, your bank’s systems treat it as a reportable event and federal regulators can see it. The rules are designed to catch money laundering and tax evasion, yet they also sweep in…
State auditors have uncovered serious gaps in how Minnesota’s human services programs are overseen, including allegations that staff concealed key information about a favored grantee. The review describes a culture in which warnings were ignored, conflicts of interest were downplayed, and internal controls failed just as large contracts were being approved. While political critics have…
With a partial shutdown colliding with filing season, the Internal Revenue Service is under pressure and taxpayers are understandably nervous about refunds. I want to focus on practical, concrete moves you can make right now so a Washington funding fight does not derail your money. These seven strategies reflect what the IRS itself and independent…
Millions of households are being told to brace for a tax season jolt, but for once it is the kind that could pad their bank accounts instead of draining them. The Treasury secretary is signaling that typical workers may see unusually large refunds, in some cases up to $2,000 per household, as new tax rules…
Rising dental costs can turn a routine cleaning or an emergency root canal into a serious hit to your budget. The tax code does offer some relief, but only if you understand when dental bills count as medical expenses, how the thresholds work, and exactly how to claim them on your return. I will walk…
President Donald Trump has opened a new front in his long running war with the federal bureaucracy, filing a $10 billion lawsuit that accuses the Internal Revenue Service and the Treasury Department of presiding over one of the most damaging breaches of taxpayer confidentiality in modern history. The complaint, brought alongside his two eldest sons…
Oregon regulators have ordered a high-cost lender to return hundreds of thousands of dollars to residents after finding the company charged interest rates that violated state law. The case forces a rare look under the hood of a business model that thrives on borrowers’ financial distress and tests how far the state is willing to…
For millions of households, the Trump administration’s latest tax overhaul turns a zero-dollar federal income tax bill from fantasy into a realistic target in 2026. The centerpiece is a new mix of deductions and credits that can wipe out tax liability entirely for some families, especially those in the middle of the income distribution. The…
The new 1% U.S. remittance tax is already nibbling at the cash many families send abroad, turning routine transfers into a little more of a luxury. The good news is that the law is full of carve-outs, and with a few changes in how you pay, you can often avoid the charge entirely. I will…
Millions of Americans were told they would not be punished for falling behind on their taxes during the pandemic, only to discover later that a technical failure inside the Internal Revenue Service quietly cut them out of that relief. Instead of automatic penalty forgiveness, some taxpayers saw unexpected bills, smaller refunds, or no refund at…