The financial news that actually matters
Explains tax audits, IRS enforcement actions, penalties, compliance rules, and legal financial obligations. It helps readers understand risk areas and how to respond to audits.
Open your next pay stub and imagine 15% of your take-home pay gone, redirected to the federal government before you ever see it. No lawsuit. No judge. No courtroom. For roughly 5 million Americans who have defaulted on federal student loans, that scenario is no longer hypothetical. After a pandemic-era freeze on collections that lasted…
Roughly 830,000 federal tax refunds are sitting in limbo this filing season, held by the IRS because the banking information on those returns was missing, wrong, or rejected by a financial institution. If yours is one of them, you probably already have a letter in hand: a CP53E notice telling you the agency approved your…
When the Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act, it triggered the largest customs refund in U.S. history: $166 billion flowing back to the companies that paid the duties. General Motors alone expects to collect roughly $500 million, a figure the automaker has referenced in public earnings commentary but…
When the Supreme Court struck down President Trump’s tariffs in February 2026, General Motors began preparing to collect what public reporting has estimated at roughly $500 million in refunded duties. So did more than 330,000 other importers that had paid levies on everything from Chinese-made toys and power tools to European auto parts and Vietnamese…
For years, American families absorbed the cost of tariffs on imported goods every time they bought a car, replaced an appliance, or filled a grocery cart. Those tariffs are now gone, struck down by the U.S. Supreme Court as unconstitutional. And roughly $166 billion in collected duties is now being refunded to the companies that…
If you carry a mortgage, a student loan, or a credit card, the federal agency charged with making sure your lender plays fair may be about to change how aggressively it polices the rules. Twenty-three state attorneys general are telling the Consumer Financial Protection Bureau that its draft five-year strategic plan would gut federal enforcement…