Money, Wealth & Power—A Daily Look at the Financial World
Oregon regulators have ordered a high-cost lender to return hundreds of thousands of dollars to residents after finding the company charged interest rates that violated state law. The case forces a rare look under the hood of a business model that thrives on borrowers’ financial distress and tests how far the state is willing to…
For millions of households, the Trump administration’s latest tax overhaul turns a zero-dollar federal income tax bill from fantasy into a realistic target in 2026. The centerpiece is a new mix of deductions and credits that can wipe out tax liability entirely for some families, especially those in the middle of the income distribution. The…
The new 1% U.S. remittance tax is already nibbling at the cash many families send abroad, turning routine transfers into a little more of a luxury. The good news is that the law is full of carve-outs, and with a few changes in how you pay, you can often avoid the charge entirely. I will…
Millions of Americans were told they would not be punished for falling behind on their taxes during the pandemic, only to discover later that a technical failure inside the Internal Revenue Service quietly cut them out of that relief. Instead of automatic penalty forgiveness, some taxpayers saw unexpected bills, smaller refunds, or no refund at…
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…