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As debates in Congress escalate over federal budget priorities, the future of Social Security hangs in the balance. With lawmakers striving to curtail government expenses, there is palpable concern among advocates and recipients that this vital program may face significant cuts. The backdrop to this situation includes a looming deadline, as Congress must extend funding
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As tax season approaches, many individuals face the age-old question: to file early or not to file early? While some might feel inclined to procrastinate, experts unanimously agree that there are compelling reasons to submit your tax return without delay. Among them, the prevention of tax-related identity theft stands out as a critical concern. A
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The landscape of student loan repayment has undergone significant upheaval, particularly with the recent developments surrounding the Saving on a Valuable Education (SAVE) plan. The excitement that accompanied the rollout of this initiative in the summer of 2023 has been replaced by apprehension and uncertainty for millions of borrowers. A U.S. appeals court ruling on
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As tax season approaches its peak, a seismic shift is underway within the Internal Revenue Service (IRS), spearheaded by the controversial Department of Government Efficiency (DOGE), initiated by Elon Musk. This transformative initiative aims to streamline governmental operations but comes at a significant cost: potential job losses for thousands of IRS employees and an uncertain
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The Federal Deposit Insurance Corporation (FDIC) is facing scrutiny following significant staff reductions that have raised concerns about the stability of the U.S. banking system. Led by the Trump administration, a move to reduce the workforce by approximately 1,000 employees has sparked alarms among lawmakers, particularly Senator Elizabeth Warren, who posits that these cuts may
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As inflation rates and high interest burdens continue to affect the financial landscape of many Americans, a recent report from Bankrate reveals a silver lining in the cloud of economic uncertainty. This year, an impressive 30% of adults indicated that they have successfully built up their emergency savings compared to the previous year. Moreover, it
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As the tax season unfolds each year, anxiety over potential audits lingers among millions of taxpayers. The Internal Revenue Service (IRS), rejuvenated with additional funding, has expressed intentions to heighten audit rates, particularly focusing on high-income individuals. However, the agency’s future auditing strategies appear somewhat fluctuating, influenced by ongoing shifts in political leadership and the
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