Taxes Archives - US Money News

College student celebrating with a stack of money.

Strategic Savings: Your Guide to College, Moving Out, and Tax Refunds

August 28, 2025

Planning for significant life events like college, moving out, or managing tax obligations requires strategic financial planning. This guide explores effective savings and investment strategies to help individuals achieve these important goals, emphasizing the importance […]

Graph depicting increase in Social Security tax limit.

Social Security Tax Limit Jumps 5.2% for 2024

September 18, 2024

The Social Security Administration (SSA) has announced a significant increase in the Social Security tax limit for 2024, raising it by 5.2% to $168,600. This change will impact high-income earners, as they will now pay […]

Family discussing FAFSA changes and college financial planning.

Seven Major FAFSA Changes: What Families Need to Know

September 17, 2024

The Free Application for Federal Student Aid (FAFSA) is undergoing significant changes that will impact how families apply for federal financial aid. These updates aim to simplify the application process and enhance accessibility for students […]

Worried person on phone with scammer in background

IRS Back Taxes Scam Call Steals Millions: What You Should Know

September 6, 2024

A new wave of IRS back taxes scam calls has stolen millions of dollars from unsuspecting victims. The Federal Trade Commission (FTC) estimates that IRS imposters have stolen nearly five million dollars in the last […]

Kamala Harris Proposes 28% Capital Gains Tax, Marking a Shift from Biden’s Higher Rate

September 5, 2024

In a significant policy shift, Vice President Kamala Harris has proposed a 28% capital gains tax rate for high earners, diverging from President Joe Biden’s more aggressive tax plan. This move comes as the 2024 […]

Kamala Harris at podium with American flag

Kamala Harris’s Tax Plans: What You Need to Know Ahead of the Election

September 3, 2024

With the upcoming election just around the corner, Kamala Harris has unveiled her tax plans, which promise significant changes for both individuals and businesses. Here’s a comprehensive look at what her proposals entail and how […]

Kamala Harris’ Tax Proposals: Separating Fact from Fiction

August 25, 2024

As the 2024 presidential race intensifies, Vice President Kamala Harris has found herself at the center of controversy over two alleged tax proposals: a so-called "golf tax" and a tax on unrealized capital gains. Social […]

Professionals discussing financial documents

IRS Restarts Processing of Some ERC Refunds: What to Know

August 16, 2024

The IRS has announced the resumption of processing certain Employee Retention Tax Credit (ERC) claims after a year-long pause. This move comes amidst ongoing audits and investigations into fraudulent claims, affecting over 1.4 million businesses […]

Concerned senior reviewing financial documents.

Trump’s Controversial Pledge to Repeal Taxes on Social Security Benefits: What It Means for You

August 14, 2024

Former President Donald Trump has pledged to repeal taxes on Social Security benefits, a move that has sparked significant debate. While the proposal aims to attract the 67 million U.S. households receiving these benefits, experts […]

New York Residents to Receive Child Tax Credit Checks in Mail

August 13, 2024

New York residents are set to receive a financial boost as Governor Kathy Hochul announces the distribution of $350 million in Child Tax Credit checks throughout August. This initiative is part of the expanded Empire […]