The financial news that actually matters
Taxpayers who earned more than $150,000 in adjusted gross income last year face a penalty trap that catches more filers each year: they must prepay at least 110% of their prior-year federal tax liability through withholding or estimated payments, not the standard 100%. The rule, set by federal statute and enforced through quarterly interest charges,…
Residential electricity customers across the United States are paying sharply more than they did a year ago, with average bills climbing 10.2% over twelve months. Three states sit at the top of that increase: Maine, Idaho, and Montana. Each state has active regulatory proceedings that are pushing delivery and distribution charges higher, and new rate…
Retirees who hold Roth IRAs face no requirement to pull money out during their lifetimes, a statutory carve-out that lets account balances compound free of federal income tax for decades after other retirement accounts begin forcing annual taxable withdrawals. Under 26 U.S. Code Section 408A(c)(4), mandatory distribution rules simply do not apply before the account…
Millions of single filers will subtract $16,100 from their income before a single dollar of federal tax is calculated on their 2026 returns. The figure, set by the IRS after Congress rewrote the indexing formula through the One Big Beautiful Bill Act signed into law on July 4, 2025, represents a direct increase over the…
Single filers who earn under $49,450 in taxable income during tax year 2026 can sell long-term investments and pay zero federal tax on the gains. That threshold, set through annual inflation adjustments published by the IRS, sits higher than in prior years and creates a concrete planning window for workers, retirees, and small investors whose…
Taxpayers who sell stocks, cryptocurrency, or other assets at a profit face a tax bill that can differ by thousands of dollars depending on a single calendar detail: whether they held the investment for more than one year before the sale. Federal tax law splits capital gains into two categories, short-term and long-term, and the…
Households enrolled in high-deductible health plans can set aside up to $8,750 in a health savings account for family coverage starting January 1, 2026, a $150 increase over the prior year. The self-only limit rises to $4,400. No other savings vehicle in the U.S. tax code offers the same three-layer tax break: deductible contributions, tax-free…
Grocery prices and electric bills kept rising in June even as the broadest measure of U.S. inflation slowed sharply, squeezing retirees whose fixed incomes absorb those costs at a higher rate than the general population. The Consumer Price Index for All Urban Consumers climbed 3.5% over the 12 months ending in June 2026, down from…
Four executives tied to a Toledo-based investment firm were sentenced in Lucas County Common Pleas Court for running a Ponzi scheme that collected $72 million through more than 700 investments from at least 200 people over roughly a decade. Richard Scheich, James Delverene, Doug Miller, and a fourth defendant faced the court after pleading guilty…
Thousands of Arizona car buyers who were charged for extras they never agreed to are receiving refund checks this year. The Federal Trade Commission mailed 5,790 checks totaling more than $2.3 million to people harmed by hidden fees at Coulter Motor Company dealerships, the agency confirmed as the payments went out. The refunds close one…