Finance

The Social Security Fairness Act, recently passed by the House with overwhelming bipartisan support, aims to revoke two controversial federal provisions—the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO).…

Sharon Callahan, a retired professor from Seattle, thought her financial future was secure with her 401(k), a condo, and $4,000 in combined monthly Social Security payments. However, life had other plans. Her husband’s…

The U.S. government’s Child Tax Credit (CTC) remains a crucial financial support for families, offering up to $2,000 per child under 17 for the 2024 tax year. Of this amount, $1,800 is refundable, ensuring even low-income families with…

The IRS has announced an exciting update for those aged 60 to 63: a significant increase in catch-up contributions for employer-sponsored retirement plans like 401(k)s. Starting in 2025, individuals in this age range will be allowed…

The federal FAFSA form, crucial for students seeking college financial aid, reopened nationwide on Thursday. This comes a year after a troubled rollout by the Biden administration that delayed the application’s availability until…

As winter progresses and natural disasters loom in various parts of the country, the Internal Revenue Service (IRS) reminds taxpayers to protect critical documents and prepare for potential disruptions to their tax filings. While…

Claiming Social Security benefits is a crucial step for millions of Americans, but the process isn’t always seamless. While the Social Security Administration (SSA) handles most claims efficiently, delays can occur, causing distress…

The Supplemental Nutrition Assistance Program (SNAP), previously known as food stamps, is one of the most critical federal assistance programs in the United States. It helps low-income families and individuals afford food and maintain a…

As inflation increases everyday costs, middle-class Social Security recipients will receive much-needed financial assistance in 2025. The Social Security Administration (SSA) has announced a COLA that would increase benefits for millions of…

"The Child Tax Credit provides critical financial assistance to families with children. This guide simplifies the eligibility requirements, claim process, and current updates on the proposed $3,600 credit extension, ensuring that every…

The U.S. tourist visa, or the B-2 visa, is exclusively provided for non-work activities such as tourism, visiting relatives, or medical treatment. You were working while on a tourist visa, a significant violation of US immigration law.…

Wells Fargo, one of the central banks in the United States, has faced numerous allegations about how it treats its customers, resulting in substantial legal ramifications. Eligible victims include auto loan clients, mortgage borrowers, and…

As Donald Trump gears up for another term, his proposed policies signal substantial changes that could impact low-income Americans significantly. With Republican control of the White House and Congress, the focus is shifting to debt…

Change is the one constant in life, and while some programs, such as Social Security, appear never to change, the reality is that they do. The Social Security Administration (SSA) makes annual changes to the program to ensure its lifespan…

The Social Security Administration (SSA) is one of the most popular federal institutions. It runs five programs to help some of society's most vulnerable citizens, such as seniors and people with disabilities, make ends meet. Each program…

With the expiration of the 2017 Tax Cuts and Jobs Act (TCJA) looming at the end of 2025, tax policy is set to become a major focus under Trump’s presidency. The TCJA was a significant tax overhaul, and Trump has…

Every year, Social Security beneficiaries get a cost-of-living adjustment (COLA), which affects their benefits, typically increasing them to keep up with inflation. However, if you are not an enthusiastic news consumer, you may be unaware…

During the pandemic, President-elect Donald Trump distributed two stimulus checks to millions of Americans as part of the federal government's effort to keep consumers financially solvent. Some social media posts now imply that when Trump…

The next SSI payments will be sent out on November 29, as December 1 falls on a Sunday. The Social Security Administration states that these payments are for individuals living with severe disabilities that impact their income.

As the new year approaches, the IRS has unveiled significant updates to pension and retirement account contribution limits and tax deductions. These changes aim to help Americans save more for retirement and adjust for the rising…

Some seniors have struggled to accept the adjustment of Social Security cost-of-living. In fact, for others, the situation is so grave that they are considering returning to work to supplement their income. The Motley Fool conducted a…

As President-elect Donald Trump prepares to return to the White House on January 20, speculation abounds about his economic policies. While Trump has ruled out another round of stimulus checks, his proposed…

The Child Tax Credit (CTC) provides vital financial relief to millions of U.S. taxpayers raising dependent children under 17. Designed to ease the financial burden on families, this non-refundable credit directly reduces tax bills.…

A recent Bankrate survey reveals deep concerns among Americans about the future of Social Security, with fears mounting as the program’s trust fund faces a projected depletion date in 2033. The survey, conducted in October, included…

Efforts to pass the Social Security Fairness Act, which aims to expand Social Security benefits, have gained momentum as the December 31 deadline looms. The House-passed bill, enjoying rare bipartisan support, must…

Choosing when to collect Social Security benefits is a crucial decision. While benefits can begin as early as age 62, waiting until 67 (full retirement age) or even 70 maximizes payouts. However, life circumstances…

Not everyone who receives Social Security benefits has a work history. While most workers need 40 credits (around 10 years of work) to qualify for retirement benefits, spouses who have never worked may still be…

Starting January 2025, Social Security beneficiaries will receive a 2.5% cost-of-living adjustment (COLA), the smallest increase since 2021. While this adjustment may seem minor compared to the 8.7% hike in 2023, it reflects slowing…

As the Social Security Administration (SSA) revealed the 2025 cost-of-living adjustment (COLA) on October 10, many people were anxious about how a lower-than-expected adjustment might affect their paychecks and quality of life. Many…

Most seniors know their Social Security benefits include an annual cost-of-living adjustment (COLA) each year. COLAs are designed to assist them in keeping up with inflation and maintaining purchasing power, but they are not intended to…