Personal finance

Your tax refund could be bigger this year. Here’s what to do with it

The average taxpayer is getting a $2,852 refund, $75 more than last year. That’s based on the most recent IRS data. So what should you do with that money?

Medicare and Social Security go-broke dates are pushed back in a ‘measure of good news’

140,000 people did their taxes with the free IRS direct file pilot. But program’s future is unclear

How US changes to ‘noncompete’ agreements and overtime pay could affect workers

Surging auto insurance rates squeeze drivers, fuel inflation

Stories Under 60 Seconds

How to file your taxes last minute

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Do you have an unclaimed refund from 2020

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How to keep yourself safe from tax scams

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Protect yourself from tax professional impersonators

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What is Direct File, the new IRS tool?

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Three tips to avoid making mistakes on your tax return

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Tax Season is here. Here’s what to know

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Lawmakers announce bipartisan effort to enhance child tax credit

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IRS announces Jan. 29 as start of 2024 tax season

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Airlines will now be required to give automatic cash refunds for canceled and delayed flights

The Biden administration is setting new rules on airline fees and refunds. The Transportation Department said Wednesday that the final rules will spell out exactly when consumers are owed a refund for a delayed flight.

These apps allow workers to get paid between paychecks. Experts say there are steep costs

More people are using so-called Earned Wage Access apps to get money to pay bills and buy groceries in between paydays.

It’s Tax Day. And your refund may be big this year

On this Tax Day, refunds are looking a bit bigger for taxpayers. According to the latest IRS statistics, the average refund this season has been $3,011, up $123 compared to last year.

Here’s how to reduce stress and get your taxes done

For many people, tax season isn��t only about gathering W-2 forms or calling an accountant. It can also bring intense feelings of stress or anxiety about dealing with finances.

Got kids? Here’s what to know about filing your 2023 taxes

Tax pros say there are a few tips parents should keep in mind when filing their tax returns this year.

Tax tips for college students and their parents

There are lots of things college students and their parents should keep in mind before filing their taxes.

If you’re retired or about to retire, think carefully about your tax strategy

Coming up with the best tax strategy in retirement can be much trickier than it seems, and tax pros agree that it is a time when people need to be especially careful.

Should you itemize or take a standard deduction on your tax return? Here’s what to know

When you’re doing your taxes, it can sometimes be hard to know whether to itemize or take the standard deduction.

Here’s how to protect yourself from common scams this tax season

Scammers look for ways to trick people into giving them money year-round, but tax season can be particularly fraught. One of the most common tax scams is identity theft.

Tax changes small business owners should be aware of as the tax deadline looms

As Tax Day approaches, there are plenty of things small business owners should keep in mind when filing taxes this year.

The IRS has 940,000 unclaimed tax refunds from 2020 that are about to expire. Is one of them yours?

The IRS is warning taxpayers that they may be leaving more than $1 billion on the table. The federal tax collector said Monday that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020, which total more than $1 billion nationwide.

How freelancers can prepare for changing tax requirements

If you’re a freelancer or gig worker who receives payments via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change for the 2024 tax year.

IRS chief zeroes in on wealthy tax cheats in AP interview

IRS Commissioner Danny Werfel says in a wide-ranging interview with The Associated Press the federal tax collector will expand its pursuit of high-wealth tax dodgers with new initiatives in the coming months.

The IRS launched a free online tax filing system. Find out here if it’s available in your state

After weeks of testing, an electronic system for filing returns directly to the IRS is now available for taxpayers from 12 selected states.

Biden proposes tax increase on fuel for private jets, casting it as making wealthy pay their share

President Joe Biden is proposing a huge tax increase on fuel used by private jets, portraying that as part of an effort to make the wealthy pay their share for services like running the nation’s airspace.

Today is Tax day. Here are some tips on how to navigate it and file your taxes

April 15 is the last day to submit tax returns from 2023. If you left your tax filing until the last minute, you’re not alone.

Court rejects bid to block Chicago ballot measure that would tax real estate for homeless services

Chicago voters will get the chance this month to decide on a ballot measure that would levy a one-time tax hike on luxury properties to pay for services for homeless people, according to a panel of Illinois appeals court judges.

A new IRS program is helping its first users file their income taxes electronically. And it’s free

The government’s new free electronic filing system for income tax returns is getting its first users this filing season.

Students and parents are frustrated by delays in hearing about federal financial aid for college

For many students, the excitement of being accepted into their first-choice college is being tempered this year by a troublesome uncertainty over whether they’ll get the financial aid they need to attend.

Why now is a crucial time to pay off credit card debt

For Americans who lacked savings prior to the pandemic, financial stress is rising. A combination of inflation, increased interest rates, and the end of pandemic-tied relief, such as the moratorium on student loan payments, has led to record credit card debt, experts say, with rising and worrying de

Most Americans feel they pay too much in taxes, AP-NORC poll finds

A majority of U.S. taxpayers feel they pay too much in taxes, with many saying that they receive a poor value in return.

What to do if you’re concerned you might be laid off — or if you’ve lost your job

Recent mass layoffs from technology and media companies, including eBay, Riot Games and the Los Angeles Times, might have you thinking about your job security.

Overdraft fees could drop to as low as $3 under new Biden proposal

The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest move by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck.

The new FAFSA is meant to make applying for college aid easier, but not everyone can access it yet

A new online application designed to make applying for federal student aid easier went live this week, but not everyone has been able to access it.

What to know about changes to this year’s FAFSA application for college students

A new version of the federal student aid application is now available to all college applicants for the 2024-2025 school year.

More homeowners tap equity juiced by soaring prices

LOS ANGELES (AP) — Homeowners are increasingly tapping their equity, taking advantage of big gains following years of soaring housing prices.

Inflation, expenses rise sharply as priorities: AP-NORC poll

A new poll from The Associated Press-NORC Center for Public Affairs Research shows an upheaval in priorities just months before critical midterm elections.

Go-broke dates pushed back for Social Security, Medicare

A stronger-than-expected economic recovery from the pandemic has pushed back the go-broke dates for Social Security and Medicare, but officials warn that the current economic turbulence is putting additional pressures on the bedrock retirement programs.

New Mexico social studies rule adds personal finance to K-12

SANTA FE, N.M. (AP) — The New Mexico Public Education Department has issued a final rule structuring the K-12 social studies curriculum, adding personal finance following a letter-writing campaign.

Poll: 15% of Americans worse off a year into pandemic

While most Americans have weathered the pandemic financially, about 38 million say they are worse off now than before the outbreak began in the U.S.