Money, Wealth & Power—A Daily Look at the Financial World
Millions of households entered this filing season steeling themselves for thinner Internal Revenue Service checks, even as Washington touts a wave of new tax breaks. The fear is simple: withholdings have not kept up with shifting rules, so the surprise at the end of the process could be a smaller cushion than families are counting…
Tax season is colliding with a rare legal moment that could put unusually large checks in some Americans’ mailboxes. Between new tax law provisions, high stakes tariff litigation and a headline grabbing lawsuit against the Internal Revenue Service, the outcome of several court fights will help decide who gets paid back and how much. At…
President Trump is selling his new tax law as a windfall for working families, pointing to bigger refund checks and fresh breaks that kick in for the 2026 filing season. The reality is more complicated. Many households will see short term gains, but the structure of the changes quietly shifts more of the long term…
California’s electric vehicle market has been jolted by the sudden disappearance of federal tax credits, turning what was once a straightforward $7,500 discount into a confusing scramble for new incentives. State leaders are now racing to rebuild a patchwork of rebates and matching funds that can keep EVs moving off dealer lots and onto freeways….
Your tax refund has suddenly become collateral in a political fight in Washington, and the timing could not be worse. With filing season already underway, a partial federal shutdown is colliding with the weeks when millions of households count on refunds to catch up on bills, pay down holiday debt, or rebuild thin savings. I…
For once, tax season is delivering a pleasant surprise. A combination of a major court ruling on tariffs and sweeping federal tax changes means some Americans now qualify for thousands of dollars in unexpected refunds, on top of already larger checks forecast for 2026. The windfall will not reach everyone, but for households and businesses…
Tax season is colliding with a wave of structural shocks at the Internal Revenue Service, and the tremors are landing hardest on hundreds of thousands of ordinary filers. A decade after hackers penetrated the agency’s systems to pull detailed returns on more than 300,000 people, fears of sabotage, political or criminal, are again shaping how…
The new $600 IRS reporting rule was sold as a way to catch tax cheats at the top, but its sharpest edge cuts into the lives of people stringing together side gigs, online sales, and tips to stay afloat. Instead of targeting complex tax shelters, the lower threshold pulls casual earners and very small businesses…
For families with significant assets, 2026 is shaping up as a rare window to move wealth to the next generation with relatively little friction from the tax code. The federal estate and gift framework now combines a high lifetime exemption with stable annual limits, and that mix creates planning opportunities that can sharply reduce what…
For self-employed workers and small business owners, the home office tax break can turn a spare room or corner desk into real savings at filing time. The rules are strict, but when you meet them, you can write off part of your housing costs and other expenses tied to working where you live. I will…