Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump has opened a new front in his long war with the tax authorities, filing a $10 billion lawsuit that accuses the federal government of failing at the most basic promise of the tax system: keeping personal returns secret. The complaint, lodged in Miami federal court, targets the Internal Revenue Service and the…
Pulling more than $10,000 in cash out of your bank in 2026 does not put you on an instant criminal list, but it does flip a series of automatic switches inside the financial system. Behind the teller window, software flags your transaction, generates federal paperwork, and may even prompt extra questions about what you plan…
Child care has become one of the biggest line items in many family budgets, but the tax code quietly offers a way to claw some of that money back. The child and dependent care credit, claimed on IRS Form 2441, lets you turn a slice of eligible day care, after‑school programs, or in‑home help into…
The $600 IRS reporting rule turned a once obscure tax form into a flashpoint for anyone who gets paid through apps instead of paper checks. At its core, the rule tried to drag casual side hustles and online sales into the same reporting net that already covers traditional contractors, but it did so with a…
As tax season opens, the White House is touting what it calls the largest refund bonanza in U.S. history, even as Washington edges toward another funding crisis that could freeze the very agency responsible for sending those checks. President Donald Trump is celebrating bigger payouts as proof that his signature tax law is working for…
The Internal Revenue Service does not need to knock on your door or pore over your receipts to reach into your checking account. Its power to take money directly from a bank rests on collection tools that operate separately from the traditional audit process, and they can move faster than most taxpayers expect. I want…
Homeowners in New York, California and New Jersey are finally seeing meaningful relief from a federal tax rule that has squeezed high property tax areas for years. A temporary expansion of the state and local tax deduction, paired with fresh IRS inflation adjustments, is poised to cut federal tax bills for many households that have…
Child care is one of the biggest line items in a family budget, and the tax code quietly acknowledges that reality with a targeted break for working parents and caregivers. The child and dependent care credit is meant to offset part of what you pay so you can earn a paycheck, but the rules about…
Funeral costs hit families at a moment when they are least prepared to argue with the tax code. The bills can easily run into five figures, yet the rules on what the Internal Revenue Service actually lets you deduct are far narrower than many people expect. I want to cut through the confusion and spell…
The Internal Revenue Service is warning that the way Americans pay and receive their taxes is shifting faster than many realize. New rules tied to the One Big Beautiful Bill and Executive Order 14247 are changing everything from how side hustles are reported to how refunds are delivered, and the agency is urging taxpayers to…