The financial news that actually matters
The Internal Revenue Service raised the annual contribution limit for individual retirement accounts to $7,500 for the 2026 tax year, a $500 increase over the $7,000 cap that applied in 2025. Workers aged 50 and older will also be able to set aside an extra $1,100 in catch-up contributions, up from $1,000. The changes, announced…
The 2026 tax filing season is officially underway. This means millions of Americans can now begin sending in their federal returns for the 2025 tax year. For early filers, the opening of tax season is the moment when returns stop sitting in a queue and start moving through the IRS system for processing. For most…
As the 2026 filing season approaches, federal tax officials are again warning that IRS tax scams tends to rise now. Especially as Americans begin gathering documents, checking refund status, and looking for ways to cut what they owe. The familiar tactics are still around, but they are getting sharper, faster, and more convincing. For taxpayers,…
Several tax breaks available to households in 2025 are scheduled to disappear once the calendar turns to 2026. This creates a narrower set of ways to reduce federal taxes. These expiring tax breaks are important for families weighing whether to move up home upgrades or lock in marketplace health coverage assumptions. It also important for…
The Internal Revenue Service has raised the annual 401(k) contribution limit to $24,500 for 2026, up from $23,500 in 2025. For workers who already save aggressively through an employer plan, that is a meaningful increase. It creates another $1,000 of tax-advantaged room, whether contributions are made on a traditional pre-tax basis or as Roth salary…
The IRS is discontinuing Direct File for the 2026 filing season. This shuts down the government-built tax filing option after expanding it just a year earlier and branding it as a permanent free alternative for taxpayers. The reversal leaves eligible filers heading into tax season with fewer government-run options. It also sends them back toward…
Retirees considering a Roth conversion late in the year face a firm deadline that can have lasting tax consequences. A conversion counts in the calendar year it is completed, which means any move intended for the 2025 tax year has to be processed by Dec. 31. Miss that window, and the income lands on the…
The average 401(k) balance has climbed to $144,400, a fresh high that reflects a powerful mix of steady contributions, stronger markets, and a retirement system that continues to reward workers who stay invested over time.That headline number is encouraging, especially after several years of inflation pressure and market swings. But it tells only part of…
More than half of Medicare-eligible seniors in the United States now get their coverage through private Medicare Advantage plans, a milestone that says as much about the future of the program as it does about its current popularity. In 2025, enrollment reached 34.1 million people, or 54% of eligible Medicare beneficiaries, cementing Medicare Advantage as…
For anyone trying to buy a home in 2026, the central mortgage question is no longer whether rates will crash back to pandemic lows. It is whether borrowing costs can settle low enough to make monthly payments more manageable without a fresh jump in home prices wiping out the benefit.That is why most serious forecasts…