Money, Wealth & Power—A Daily Look at the Financial World
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…
For older Americans trying to stretch Social Security and savings, the new “senior bonus” deduction is one of the most valuable changes in the tax code this season. It effectively lets qualifying taxpayers subtract an extra $6,000 from taxable income on top of already expanded standard deductions, potentially lifting total write offs into the mid…
Several of the most familiar write-offs in the federal code are being reshaped or erased as 2026 rules lock into place. The Internal Revenue Service is implementing a package of changes tied to the Tax Cuts and Jobs Act and the newer One Big Beautiful Bill framework, and some of the quietest shifts will hit…
President Donald Trump is promising a banner year for tax refunds, with his signature cuts poised to fatten checks for households that have already weathered years of inflation and higher borrowing costs. Yet the very agency that has to deliver those windfalls is heading into filing season with fewer workers, a growing backlog and a…
The Internal Revenue Service is quietly tightening the rules that decide how fast your refund hits your bank account. If anything about your return or your payment details looks off, the IRS can park your money for weeks until you prove who you are and where the refund should go. The one document that increasingly…
For families trying to help with tuition, housing or wealth transfers, 2026 is a pivotal year for tax‑free generosity. The Internal Revenue Service has locked in higher thresholds that let you move meaningful money without triggering a gift tax bill, provided you stay within a few key limits. Understanding how those limits work together is…
The federal tax calendar, usually one of the few fixed points in American life, is suddenly in play again. Treasury Secretary Scott Bessent has signaled that he is open to pushing back this year’s filing deadline, raising the prospect that Tax Day could slide for the second time in a decade. For households trying to…
The new senior tax break has been sold as a simple, generous way to shield retirees from the IRS, with a headline promise of an extra $6,000 off taxable income. In practice, that bonus shrinks quickly once you factor in income limits, existing deductions, and the temporary nature of the law. The result is a…