The financial news that actually matters
Consumers chasing bank sign-up bonuses of $1,000 or more this year face a tax bill that can shave hundreds of dollars off the advertised payout. The IRS treats those bonuses as taxable interest income, and banks are required to report them on Form 1099-INT once the amount hits $10. For a filer in the 22…
Scammers posing as federal marshals and court officials are calling people across the country, claiming an arrest warrant has been issued for missed jury duty and demanding immediate payment through apps or cryptocurrency. The Federal Trade Commission issued a fresh consumer alert in June 2026 warning that these calls, texts, and emails are fraudulent. No…
Medicare beneficiaries who end up in the hospital for longer than 60 days in a single benefit period face a sharp financial cliff: a daily coinsurance charge of $434 starting on day 61, with no annual cap on total out-of-pocket spending under Original Medicare. For patients battling serious illness or recovering from major surgery, that…
Retirees who shift traditional IRA balances into Roth accounts during a year when their income drops can permanently shrink the tax bill on those savings. The strategy hinges on a simple timing advantage: Roth IRAs carry no required minimum distributions, so every dollar converted escapes the forced taxable withdrawals that traditional accounts eventually demand. Converting…
Families who inherit a home without advance planning can spend months waiting for a court to release the property, paying filing fees and executor costs along the way. A living trust offers a direct alternative: when a residence is already titled in the trust’s name before the owner dies, the property passes to heirs outside…
Every American household now has the ability to check credit reports from all three major bureaus on a weekly basis at no cost, a level of access that did not exist before 2020. Equifax, Experian, and TransUnion each provide reports through a single federally authorized site, and the weekly option has remained in place well…
Taxpayers who paid failure-to-pay penalties on their 2020 or 2021 federal returns could be owed money back from the IRS, but a refund window tied to statutory claim deadlines is closing fast. The agency announced an automatic penalty relief program covering assessed balances under $100,000 for those two tax years, and it confirmed that credits…
Millions of Americans age 65 and older stand to save up to $6,000 on their 2025 federal tax returns, but only if they file a brand-new IRS form that does not appear anywhere on the standard 1040 by default. The IRS confirmed that the senior deduction, enacted under the One, Big, Beautiful Bill, must be…
Wartime veterans who can no longer dress themselves, bathe without help, or safely move through their own homes may qualify for a monthly VA pension payment well above the standard rate. The Department of Veterans Affairs sets a higher maximum annual pension rate, known as the MAPR, for claimants who meet Aid and Attendance criteria,…
Americans who carry a balance on their credit cards are now paying a record-high annual percentage rate of 22.17%, according to the Federal Reserve’s own data on commercial bank card plans. That figure applies specifically to accounts assessed interest, meaning cardholders who revolve a balance from month to month rather than paying in full. The…