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Tax refunds and medical expenses: IRS clarifies rules around wellness and nutrition

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The Internal Revenue Service (IRS) recently issued a bulletin to address misconceptions about what constitutes a medical expense, especially in the realm of general health and wellness. The IRS emphasized that expenditures for overall wellness, ... more
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2024 Tax Refunds: IRS pledges swift action on Child Tax Credit

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In a move that promises to bolster the finances of qualified American families, IRS Commissioner Danny Werfel has assured swift implementation and disbursement of child tax credit refunds, potentially delivering an extra few hundred dollars ... more
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IRS targets tax evasion: Who is a high-earner? What’s inside enforcement effort?

IRS: Why is my refund late and what updates are coming?
The Internal Revenue Service (IRS) has set its sights on high-income Americans who have neglected a fundamental responsibility: filing their tax returns. With an initiative aimed at those earning over $400,000 annually, the IRS announced ... more
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Tax Refund Audit: Issues revealed with middle class program

IRS: If you’ve been waiting on your refund, you might see extra because of interest
A recent audit by the California State Auditor has spotlighted several problems with the Middle Class Tax Refund (MCTR) program, a stimulus initiative designed to alleviate the financial strain of inflation and rising gas prices ... more
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Mortgage rates dip, offering relief to homebuyers

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After four consecutive weeks of increases, mortgage rates experienced a slight decrease this week, offering a glimmer of hope to potential homebuyers. The 30-year fixed-rate mortgage averaged 6.88%, down from 6.94% last week, according to ... more
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$10,000 Tax Credit: Biden proposes ‘starter home’ tax credit as solution to housing crisis

$10,000 Tax Credit: Biden proposes 'starter home' tax credit as solution to housing crisis
In a bid to make home ownership more accessible amidst soaring mortgage rates and home values, President Joe Biden announced a proposal for new tax credits during his State of the Union address. The initiative ... more
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Housing Crisis: Biden targets mortgage, rent burden with tax credit, but will it work?

Some worry that a housing crisis is looming post-pandemic if action isn’t taken by Congress
In his recent State of the Union address, President Joe Biden laid out a series of measures aimed at alleviating the housing affordability crisis in the United States. Amidst a backdrop of rising mortgage rates, ... more
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