Personal finance

Pra-chid | Istock | Getty Images The 2025 tax filing season will begin on Jan. 27, which marks the first day the IRS will accept and process individual tax returns for 2024, the agency announced on Friday. Most taxpayers must file federal returns and pay taxes owed by April 15 this year to avoid penalties

Ryanjlane | E+ | Getty Images The start of a new year is the most popular time to make a resolution or two. For many, those include giving up alcohol for the first 31 days. This year, 22% of adults are participating in Dry January, five percentage points higher than in previous years, according to a

Israel Sebastian | Moment | Getty Images The fourth-quarter estimated tax deadline for 2024 is Jan. 15, and missing a payment could trigger “unexpected penalties and fees” when filing your return, according to the IRS. Typically, estimated taxes apply to income without withholdings, such as earnings from freelance work, a small business or investments. But

Morsa Images | Digitalvision | Getty Images List prices for the top 25 prescription drugs covered by Medicare Part D have nearly doubled, on average, since they were first brought to market, according to a new AARP report. Moreover, that price growth has often exceeded the rate of inflation, according to the interest group representing

Fire engulfs a home as the Eaton Fire moves through the area on January 08, 2025 in Altadena, California.  Justin Sullivan | Getty Images Federal student loan borrowers affected by the wildfires ripping across Southern California have relief options if they’re worried about keeping up with their payments as they recover. The same holds true

Sdi Productions | E+ | Getty Images Nearly 3 million individuals are poised to see their Social Security benefits increase, thanks to new changes signed into law by President Joe Biden this week. But with the higher checks could come additional tax burdens. The Social Security Fairness Act — which passed by a bipartisan majority

Erin Collins, national taxpayer advocate at the Taxpayer Advocate Service, speaks at a Senate Appropriations subcommittee hearing in Washington, D.C., on May 19, 2021. Bloomberg | Bloomberg | Getty Images As the IRS faces scrutiny from a Republican-controlled Congress, the agency’s internal watchdog has urged lawmakers to preserve taxpayer service and technology funding. The National

The rally in bitcoin and other cryptocurrency prices has generated excitement among some investors, but investment advisors are largely still skeptical that those volatile assets belong in a 401(k) plan or other qualified retirement savings plans.   Crypto was one of the fastest-growing categories of exchange-traded funds in 2024. The most popular of these funds, the

Damircudic | E+ | Getty Images There’s one upside to your student loan payments: they might reduce your 2024 tax bill. The student loan interest deduction allows qualifying borrowers to deduct up to $2,500 a year in interest paid on eligible private or federal education debt. Before the Covid pandemic, nearly 13 million taxpayers took advantage of the

Simpleimages | Moment | Getty Images As the first paycheck of 2025 hits your bank account, it could have slightly more money due to IRS tax bracket changes. The IRS in October announced the federal income tax brackets for 2025, which raised each income threshold by roughly 2.8%. By comparison, the brackets increased by about

sturti | E+ | Getty Images The Consumer Financial Protection Bureau on Tuesday announced it has finalized a rule to remove about $49 billion in medical debt from credit reports, a change that will affect an estimated 15 million Americans. Individuals who have medical debt on their credit reports may see their credit scores increase

President Joe Biden after he signed the Social Security Fairness Act at the White House on Jan. 5 in Washington, D.C.  Kent Nishimura | Getty Images News | Getty Images President Joe Biden on Sunday signed the Social Security Fairness Act into law, clearing the way for nearly 3 million public workers including teachers, firefighters