Money, Wealth & Power—A Daily Look at the Financial World
Republican lawmakers in New Hampshire are pushing to repeal a long standing property tax break for homes and businesses that install solar panels, a move that would effectively raise taxes on thousands of clean energy systems. The fight over this exemption has turned a once obscure line in the tax code into a test of…
President Donald Trump’s new $10 billion lawsuit against the Internal Revenue Service and the Treasury Department is framed as a historic bid to hold Washington accountable for a massive breach of taxpayer privacy. The case centers on a former IRS contractor who admitted leaking Trump’s tax information, along with data from some of the wealthiest…
President Donald Trump has repeatedly floated the idea of eliminating the federal income tax and replacing it with tariffs or other levies, raising a high-stakes question for states that depend heavily on Washington. If the income tax, which currently delivers $2.18 trillion in federal revenue, disappeared without a fully reliable substitute, the shock would ripple…
Tax season is officially underway, and for Americans in their mid‑60s and beyond, one new rule stands out: an extra deduction of up to $6,000 that can sharply cut what they owe. The so‑called “senior bonus” is layered on top of existing breaks for older filers, but it only helps if you know you qualify…
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…