The Internal Revenue Service has doled out millions of tax refunds amid the ongoing 2025 tax filing season. More than 8 million tax refunds have gone out during the 2025 season as of Feb. 7 and, according to the IRS, those refunds have averaged $2,065 each. When taxpayers receive their...
Annual inflation increased to 3% in January, rising above expectations and giving the Federal Reserve further reason to slow down interest rate cuts. Inflation increased 0.5% monthly, slightly exceeding expectations and above the previous month’s increase of 0.4%, according to the Consumer Price Index (CPI) released by the Bureau of...
Verizon is teaming up with ForgiveCo to clear $10 million in consumer debt for more than 6,500 North Carolinians impacted by Hurricane Helene. The communications company said the debt relief campaign is aimed at assisting with the ongoing recovery following the September 2024 storm. ForgiveCo’s “random acts of kindness” purchased...
Interest rates will stay higher for longer as the Federal Reserve pauses further interest rate cuts to give inflation room to drop closer to its 2% target rate. The Federal Reserve held interest rates at 4.5% to 4.75%, prompted by strong economic indicators that gave the central bank more room...
The California wildfires have brought widespread disaster to communities in Southern California. It’s also contributed to a serious insurance crisis happening in the state. Many insurers have pulled out of the state or have paused coverage. AIG left the state in 2022, while Chubb and Allstate limited their coverage options...
Annual inflation increased to 2.9% in December, rising modestly above the 2.7% annual inflation rate of the previous month, according to the Consumer Price Index (CPI) released by the Bureau of Labor Statistics (BLS). Inflation increased 0.4% monthly in December, slightly exceeding expectations. Core CPI, which excludes food and energy,...
As President Joe Biden’s term draws to a close, he has granted federal student loan relief to an additional 150,000 borrowers. These 150,000 borrowers include almost 85,000 who attended schools that cheated and defrauded their students, 61,000 borrowers with total and permanent disabilities, and 6,100 public service workers. The debt...
They say you get better as you get older. This might just be true for 401(k) plans in 2025 for those striding into their golden years. Planning for retirement just got a significant boost for Americans aged 60 to 63, thanks to provisions in the SECURE Act 2.0. Beginning...
As the new year gets underway, some Americans may be on the hunt for new jobs. The 2025 edition of LinkedIn’s “Jobs on the Rise” report released on Tuesday identified positions that have been seeing notable growth in the U.S. in the past few years. Two roles related to artificial intelligence...
Americans have historically been averse to discussing financial matters among family members, but a recent study by Fidelity Investments found that attitudes toward taboo wealth topics are shifting. Fidelity’s State of Wealth Mobility study found that 56% of Americans didn’t discuss family finances with their parents when they were children. Of that...