Money Today That Matters Tomorrow
The Social Security Cost-of-Living Adjustment (COLA) for 2025 brings a 2.5% increase, averaging just $50 more per month for most retirees. While any increase is better than none, many recipients and experts argue that this modest adjustment is inadequate given today’s economic challenges. Let’s delve into why the 2025 COLA …
The chart below shows the expected or likely date for when you could see your federal refund payment from the IRS. Note: The estimated IRS refund payment dates in the chart below should not be construed as official IRS payment dates. To get the exact date of your refund payment check the …
Tax filers claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) who file early in January or February may face unexpected delays or holds on their refunds due to the PATH Act 2025 PATH refunds now being processed The good news is that PATH held refunds …
The House Budget Committee recently unveiled a comprehensive proposal featuring 45 potential changes to the nation’s tax laws in line with President Trumps campaign proposals. These proposed reforms aim to address a wide range of fiscal priorities, from reducing the federal deficit to incentivizing economic growth and ensuring equitable tax …
Its a new year and new administration. So let’s talk taxes—everyone’s favorite topic, right? 😉 As we dive into 2025, there’s a lot of chatter about what Trump’s next term could mean for our wallets. Whether you’re all about maximizing your tax refund or just trying to figure out how …
This article provides the latest updates and news on General Schedule (GS) pay scale changes, including forecasted annual adjustments based on White House and Congressional plans. The GS pay scale provides annual base pay or salary scales, in addition to locality pay adjustments, for civilian federal employees and related groups. …
The tax season heat is on, and good news! The IRS is releasing refunds sooner than expected for many filers. Want to know exactly when your money is arriving? Then see the table below and what is being reported online. While refunds held by the PATH freeze are now being …
Several tax filers are seeing a message on the WMR and IRS2Go refund status tracker tool that confirms their return was received, but a letter has been sent to them by the IRS requesting more information. An example of the message looks like this: Should I Worry if I Get …
With tax season well underway millions of Americans are filing their returns, with many expecting a juicy refund. Last year the average refund was over $3,100 but is expected to be lower this year with fewer tax credits and stimulus payments available to most. If you are waiting for your …
Tax season brings questions, anxieties, and a constant vigil over tax transcripts and the IRS’ Where’s My Refund (WMR) tool. However its important to realize that your tax transcript and the WMR or IRS2Go mobile app for checking you refund status are two different applications. But they are interlinked when …
Tax season can be a confusing time, filled with cryptic codes and unfamiliar numbers when it comes to checking your refund status. If you’ve been scrutinizing your IRS tax transcript (free via IRS online account) and stumbled upon “Code 806,” you’re not alone. This seemingly innocuous code holds significant meaning …
When it comes to dealing with taxes, one of the common stressors is the idea of reaching out to the IRS to get a live agent. The long wait times, endless phone menus, and the anticipation of talking to a representative can be daunting. This has been widely covered in …
It’s that time of year again: tax season has officially arrived, with the Internal Revenue Service (IRS) opening its electronic filing system for early filers on January 16th, 2024. This year, however, there’s a twist – the IRS has kicked off its “hub testing” phase two weeks ahead of the …
[Feb 2024 update] The House has voted on a bill based on the Senate proposal (discussed in update below), known as the Tax Relief for American Families and Workers Act of 2024, which expands the Child Tax Credit (CTC) for many lower income families, It was approved with bipartisan support …