Money, Wealth & Power—A Daily Look at the Financial World
Working households are being told to brace for a windfall, with Treasury Secretary Scott Bessent signaling that many will see tax refunds climb as high as $2,000 next year. The promise centers on working Americans who kept their paychecks steady and did not adjust their withholding, a group Bessent says is now in line for…
Americans are being told to brace for a rare kind of tax season shock: a bigger check from the government instead of a nasty bill. The White House is signaling that typical filers could see roughly an extra $1,000 added to their refunds next year, a shift that could reshape how households think about their…
Working households are being told to brace for a rare kind of tax season surprise: bigger checks from the Internal Revenue Service instead of smaller ones. The Trump administration’s latest tax adjustments are expected to translate into refunds in the ballpark of $1,600 to $2,000 for a typical worker, a shift that could briefly ease…
Flexible spending accounts are getting a meaningful reset for 2026, with higher contribution ceilings and new rules that change how much tax-free money families can set aside. The shifts touch both health care and dependent care FSAs, so workers, employers, and benefits administrators all need to recalibrate before the next enrollment cycle. I want to…
House Republicans are promising a tax season payoff in 2026, telling Americans to expect refunds that are roughly $1,000 larger on average. That headline figure is eye catching, but whether any given household actually sees that kind of boost will depend on income, family size, and how the new rules interact with existing credits and…
Tax season is one of the few times each year when you can legally and predictably cut your bill to the IRS, yet many filers skip valuable credits that could put real money back in their pockets. By focusing on five often missed credits that target retirees, savers, students, homeowners and new parents, I can…
The U.S. Department of Transportation has wiped away the final $11 million slice of a record penalty tied to Southwest Airlines’ 2022 holiday meltdown, turning what was billed as a tough enforcement action into something closer to a performance bonus. The move raises a sharper question than any press release: when regulators erase a cash…
Tax season in 2026 will look very different for older Americans filing 2025 returns, as a new wave of deductions reshapes how income, Social Security and retirement savings are treated. For people 65 and older, the changes are large enough to shift whether it makes sense to itemize, how much income to recognize and even…
Federal tax rules are shifting in ways that could dramatically change how workers and retirees keep what they earn, from restaurant tips to overtime pay to monthly Social Security checks. A newly passed package, widely branded around “no tax” promises, pairs targeted exemptions with fresh deductions that reshape who actually benefits and by how much….
Health insurance costs are on track to jump in 2026 just as a new promise of relief lands on Capitol Hill: a proposal to let families write off up to $25,000 in medical expenses from their taxes. The idea arrives at the exact moment when temporary Affordable Care Act subsidies are scheduled to vanish, threatening…