Personal finance

Jeffrey Coolidge | Photodisc | Getty Images This tax season, there have been heightened concerns about IRS audits as the agency begins to deploy its nearly $80 billion in funding. While the IRS plans to hire more workers, including enforcement agents, experts say there’s no need to worry — as long as you keep proper

Hinterhaus Productions | Getty Images Workers who participate in a company 401(k) plan pay fees for a host of associated services. Among them is the cost of administering the plan — for example, tracking daily fluctuations in account value, facilitating trades and issuing regular notices to investors. But based on how your employer structures its

Geber86 / Getty Tax procrastination happens. But if you’re still missing key forms or feeling overwhelmed, you can buy more time by filing a free tax extension. Nearly one-third of Americans procrastinate with their taxes, the top reasons being complexity and stress, according to a recent survey from IPX1031. You can avoid a late-filing penalty

A woman looks through a garbage can in Manhattan in New York City. Spencer Platt | Getty Images News | Getty Images Over the last 50 years, the poverty rate in the U.S. has barely budged: Around 11% of the U.S. population was considered poor in 2019. In 1970, just about 12% was. “There is

Bill Oxford | E+ | Getty Images With the tax deadline approaching, the IRS has issued roughly 54 million refunds worth about $158 billion as of March 17, the agency reported Friday. In January, the IRS warned filers that refunds may be “somewhat lower,” and so far, the prediction has been accurate for many filers.

In this article SBNY Follow your favorite stocksCREATE FREE ACCOUNT Nicoletaionescu | Istock | Getty Images When it comes to bank deposits, $250,000 is the key number experts are talking about in light of recent financial shocks in the banking sector of a severity not seen since the Financial Crisis. That amount is the threshold

Getty Images The tax deadline is approaching, and there are still a few ways to reduce your 2022 bill or boost your refund, experts say. Once the calendar year ends, “the toolbox of options is much smaller,” said certified financial planner John Loyd, owner at The Wealth Planner in Fort Worth, Texas. He is also

Suze Orman speaks during AOL’s BUILD Speaker Series at AOL Studios In New York. Jenny Anderson | WireImage | Getty Images At the end of each episode of her long-running eponymous CNBC show, Suze Orman would close out with the phrase, “People first, then money, then things.” Women took that to mean they should give

Mireya Acierto | Photodisc | Getty Images It’s not unusual for wealthy taxpayers to relocate from high-tax states to low-tax states. There’s evidence in population trends: Texas and Florida — neither of which have a state income tax — were the states with the biggest population increases from 2020 to 2021, according to the latest

Alistair Berg | Digitalvision | Getty Images Death and taxes are, as Benjamin Franklin famously declared, two of life’s certainties. Investment fees may be a worthy addition to that list in the modern era — though not all investors are aware of this near-universal fact. The fees financial services firms charge can be murky. One-fifth

Fg Trade Latin | E+ | Getty Images Families will soon find college acceptance letters in their mailboxes. As students weigh where to attend, making sure they won’t borrow too much is key, experts say. The consequences of taking on too much student debt can be severe. “If you borrow too much, you will have

Andrew Bret Wallis | The Image Bank | Getty Images For retirees, health-care costs can be among the most unpredictable expenses they face over the course of their golden years. While many of them worry about affording their monthly Medicare premiums, their bigger concern is their out-of-pocket costs, recent research from eHealth shows. Fully 75%

Jamie Grill | Getty Images When you’re on a tight budget, It can be tough to decide between contributing to your retirement savings or to your emergency fund — especially during periods of economic uncertainty. And the banking crisis has added to fears of a recession, with further stock market volatility triggered by the collapse

The Good Brigade | DigitalVision | Getty Images A couple of Medicare enrollment periods are underway — and both end soon. First, if you didn’t enroll in Medicare when you should have and you don’t qualify for a special enrollment period, you can sign up until March 31. Second, if you are already on Medicare

Recent bank woes and rising interest rates have prompted higher levels of economic uncertainty. When it comes to the markets, that means more volatility may be in the forecast. Volatility happens when the value of an investment “fluctuates wildly in a short period of time,” according to the Financial Industry Regulatory Authority. “In the months

Digital artist FEWOCiOUS auctions five NFT works of art, along with five physical paintings and drawings at Christie’s on June 28, 2021 in New York. Noam Galai | Getty Images Entertainment | Getty Images The IRS said it plans to tax some non-fungible tokens, or NFTs, as collectibles akin to art or gems — an

In the era of social media influencers, some investors are turning to platforms like YouTube, TikTok and Instagram for answers to their most pressing financial concerns. But advisors recommend scrutiny when seeking guidance online — especially when weighing money decisions with the possibility of harmful consequences. “Because social media is democratized and everybody has a

Photographer: Samuel Corum/Bloomberg via Getty Images President Joe Biden used his first veto to preserve a recent U.S. Department of Labor rule about investment choice in 401(k) and other workplace retirement plans. The regulation, which took effect in January, applies to so-called “environmental, social and governance” funds. These ESG investments — also known as sustainable

Tetra Images | Tetra Images | Getty Images The recent banking crisis has fueled concern of a “credit crunch” and the resulting negative impact on households, businesses and the U.S. economy. But what is a credit crunch and how might you prepare? Loans would be tougher to get related investing news Demand for Fed help

Pascal Broze | Onoky | Getty Images An 8.7% Social Security cost-of-living adjustment for 2023 means beneficiaries received on average $140 per month more starting in January. Now, new research from Bank of America Institute finds faster spending growth among older generations that receive Social Security income. For the week ending Feb. 18, individuals born