October 24, 2026

The Daily Overview

Money, Wealth & Power—A Daily Look at the Financial World

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Taxes & IRS

IRS sets a $3,500 fee for its new IRA mistake-correction program starting May 1

Owners of individual retirement accounts are getting a new formal way to ask the IRS to fix certain account mistakes, but it will not be cheap. Under a revenue procedure released October 22, a new IRA correction program opens May 1, 2027, and a standard request carries a $3,500 user fee. Until now, IRA owners...

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Louisiana Medicaid work rules start January 1 with an 80-hour monthly test

Social Security’s 2027 earnings limit rises to $25,560 on January 1

Kia window regulator claims close November 23 with up to $400 per repair

SSI’s student earnings exclusion rises to $2,500 a month in January

Ohio BMV settlement claims for disabled veterans’ plates close December 2

Pennsylvania Medicaid adults face 80-hour work rules starting January 1

Older Americans reported more than $3 billion in fraud losses in 2025, FTC says

Ascension hospitals in three states may exit UnitedHealthcare networks January 1

Missouri Medicaid work rules start January 1 for 344,669 expansion adults

Louisiana Medicaid work rules start January 1 with an 80-hour monthly test

Social Security’s 2027 earnings limit rises to $25,560 on January 1

SSI’s student earnings exclusion rises to $2,500 a month in January

Pennsylvania Medicaid adults face 80-hour work rules starting January 1

Ascension hospitals in three states may exit UnitedHealthcare networks January 1

Missouri Medicaid work rules start January 1 for 344,669 expansion adults

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IRS sets a $3,500 fee for its new IRA mistake-correction program starting May 1

IRS has sent automatic adoption credit refunds to more than 50,000 taxpayers

First Time Abate gives way to automatic IRS penalty relief on January 1, 2027

The IRS deadline for extended 2025 returns is October 15 in most of the country

IRS storm relief runs out November 2 in Michigan, Wisconsin and Mississippi

The IRS held refunds and sent 4.2 million notices over paper checks

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    Companies & Closures

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    Trump Vows 50% Tariffs on Every Canadian Car as Trade Talks Collapse

    KBR to lay off 758 workers at Fort Irwin in major California job cut

    Jelly Belly shuts corporate HQ and lays off dozens of workers

    Costco’s wild new limited item is coming for McDonald’s crown

    Target cuts 500 jobs after boycotts and CEO exit signal crisis

    Walmart’s sales are now exploding thanks to wealthier shoppers

    Your Money

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    Newsletter

    Kia window regulator claims close November 23 with up to $400 per repair

    Ohio BMV settlement claims for disabled veterans’ plates close December 2

    Ohio’s Winter Crisis Program opens November 2 for households facing shutoffs

    Kroger’s $17 million pharmacy pricing settlement takes claims until December 21

    New Jersey’s ANCHOR and Stay NJ applications close November 2

    MCNA and Healthplex dental breach settlement claims close October 19

    Scams & Fraud

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    Older Americans reported more than $3 billion in fraud losses in 2025, FTC says

    65,022 FTC refund checks go out to Walmart money transfer scam victims

    Texas jury convicts coordinator tied to $150 million in seniors’ cash and gold

    CVS agrees to pay $315 million in federal opioid prescription case

    Leader of a $55 million Manhattan mailbox check ring gets eight years

    Lens.com’s hidden fees routinely doubled contact lens prices, FTC lawsuit says

    ‘Get the Feds Out’: California Hands Newsom a Bill to Lock ICE Agents Out of Public Jobs

    Hegseth Fired the Army’s Top General. Now Its Secretary Is Walking Out Too.

    ‘We’re Going to Hit Them Hard’: Trump Vows Payback for Iran’s Strike on U.S. Bases

    NBC Says Hegseth Is Talking About 2028. He Says NBC Is Lying.

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