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☆ G7 leaders agree to loan Ukraine money backed by profits from frozen Russian investments
▼ + stars: | 2024-06-13 | by ( Betsy Klein | Michael Williams | ) edition.cnn.com time to read: +6 min

CNN —Group of Seven leaders have reached an agreement to loan money to Ukraine backed by the profits from frozen Russian investments, a senior administration official confirmed Thursday. While Ukraine is not a G7 member, its president, Volodymyr Zelensky, attended the summit and participated in a Thursday evening joint news conference with Biden. “Would we stand with Ukraine?” Biden said at the news conference. The United States, the G7 and countries around the world have consistently answered that question by saying yes we will. The loan will be drawn from funds frozen by Western leaders in the wake of Russia’s invasion of Ukraine in 2022.

Persons: Volodymyr Zelensky, Biden, “, ” Biden, … we’re, ”, Jake Sullivan, Donald Trump, Trump, Vladimir Putin, Zelensky, ” Zelensky, … Organizations: CNN — Group, Seven, Ukraine, House, Republican Locations: Ukraine, United States, Italy, Puglia, Russia, Ukrainian, Europe, November’s, Israel, Taiwan

☆ A.D.H.D. Startup Executives Accused of $100 Million Fraud in Adderall Scheme
▼ + stars: | 2024-06-13 | by ( Dani Blum | ) www.nytimes.com time to read: +1 min

Tens of thousands of patients with attention deficit hyperactivity disorder nationwide could face disruptions to their care after two executives of a major telehealth company that distributed A.D.H.D. The Department of Justice announced on Thursday that the chief executive and the clinical president of Done, the telehealth company, had been arrested and accused of participating in a scheme to distribute Adderall and other stimulants for A.D.H.D. to patients who did not need the medications, and to bill insurers for these drugs. The charges come amid ongoing shortages of Adderall and another stimulant, Vyvanse. said that as many as 50,000 patients across the nation who rely on Done or similar telehealth platforms to obtain stimulant medications may be affected.

Persons: General Merrick B, Garland Organizations: of Justice, Centers for Disease Control

☆ How California, Once Flush, Got Stuck With a Budget Shortfall
▼ + stars: | 2024-06-13 | by ( Shawn Hubler | ) www.nytimes.com time to read: +1 min

California’s state budget dwarfs the gross domestic products of some countries, supporting the nation’s most populous state and the world’s fifth-largest economy. When Golden State finances swing, there is an impact — and they can swing wildly. Two years ago, the state was projecting a record surplus; now, state lawmakers are confronting tens of billions of dollars in red ink. State law requires legislators to pass a balanced budget by June 15 each year or lose their pay and expense money. Why do California’s finances jump around so much?

Persons: Gavin Newsom Organizations: Golden, Gov

☆ Disney and DeSantis-backed board ‘come to their senses’ in new agreement
▼ + stars: | 2024-06-12 | by ( Natasha Chen | ) edition.cnn.com time to read: +7 min

“Walt Disney World is inextricably intertwined in the fabric of the state of Florida. And the success of Walt Disney World is the success of Central Florida, and vice versa,” he said. The Disney World resort is currently home to four theme parks and two water parks. It’s been 26 years since Disney has opened a new theme park in Florida,” said Dennis Speigel, owner and founder of International Theme Park Services, a global consultant for theme park projects. Orlando is the Mecca of the theme park industry, and for it to function, Disney and Florida have to function together.”

Persons: Disney, Ron DeSantis, “, ”, Aubrey Jewett, Brian Aungst Jr, Walt, Jeff Vahle, CFTOD, It’s, Dennis Speigel, DeSantis, Bob Chapek, Walt Disney, ” Jewett, Reedy, Jewett, Speigel Organizations: CNN, Disney, Walt Disney, University of Central, Walt Disney World, Walt, World, Park, Universal, Improvement, ” Locations: Florida, Central Florida, University of Central Florida, Reedy, Disney, Orlando, Mecca

☆ The tax deadline for American expats is June 17 — here are some key things to know
▼ + stars: | 2024-06-10 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're living and working abroad and still need to file 2023 taxes, the deadline is only one week away. While the regular tax deadline was April 15 for most taxpayers, there's an automatic two-month extension to June 17 for those U.S. citizens and resident aliens, including dual citizens, who live outside the country. There are two ways to qualify for the June 17 deadline, according to the IRS. You must live outside of the U.S. and Puerto Rico or serve in the military outside the country during the regular tax deadline. The "fastest and easiest" ways to make payments are via an IRS Online Account, Direct Pay and the Electronic Federal Tax Payment System, according to the IRS.

Persons: John Lennon, Mike Wallace Organizations: Finance, Biden, Trump, IRS, Tax Services, Electronic Locations: Puerto Rico

☆ Fresno officials should have noticed a phishing scam that cost taxpayers more than $600,000, jury says
▼ + stars: | 2024-06-09 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

Fresno lost over $600,000 to a phishing scam in 2020. AdvertisementThe city of Fresno lost more than $600,000 to to a phishing scam in 2020. Now, a grand jury says that city officials should have noticed the scam before it cost taxpayer dollars. City officials discovered the fraud after realizing an invoice from a contractor working on a section of the Fresno police station was fake, according to The Fresno Bee. City officials did not publicly comment on the scam until reporting by the paper uncovered it in 2022.

Persons: Jerry Dyer, — Organizations: Fresno, Service, Fresno police, Fresno Bee, Bee, Business Locations: Fresno

☆ Biden vs. Trump: Here's what the next president means for your taxes
▼ + stars: | 2024-06-08 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Howard Gleckman Senior fellow at the Urban-Brookings Tax Policy CenterOf course, future legislative updates, if any, will depend on which party controls Congress. More generous child tax creditAnother expiring TCJA provision is the bigger child tax credit, which some lawmakers have fought to expand in 2024. The TCJA doubled the maximum child tax credit to $2,000, boosted the refundable portion to $1,400 and expanded eligibility. Biden has called for an expansion, but there have been debates in Congress over the child tax credit design, including the amount, eligibility and refundability, said Gleckman. Fully extending the TCJA tax breaks could add an estimated $4.6 trillion to the deficit over the next decade, according to the Congressional Budget Office.

Persons: Joe Biden, Donald Trump, Chip Somodevilla, Alex Wong, Howard Gleckman, Garrett Watson, Biden, Trump, Gleckman, Watson, Lael Brainard Organizations: Urban, Brookings Tax, Tax, Center, Congressional Locations: Lower, China

☆ The Covid-19 pandemic worsened a child care crisis, and it's costing U.S. businesses billions
▼ + stars: | 2024-06-08 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

Policy advocates argue that child care, including for infants and toddlers, is an economic issue that affects all Americans, not just those with young kids. That is up from $57 billion in 2018, before the pandemic exposed and exacerbated holes in the system for working families and the companies that rely on them. Part of the nationwide solution is supporting what the group calls the "workforce behind the workforce" — early child care providers. "Supporting the early childhood workforce could include such things as making sure child care providers have access to benefits. "Programs that support additional training and education for child care providers are important as well."

Persons: Nancy Fishman, Fishman Organizations: Bureau of Labor Statistics, Bank of America, American, ReadyNation, CNBC

☆ With Big Tech’s runaway 2024, it just might be time to part with a few winners. Here's why
▼ + stars: | 2024-06-05 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +6 min

Those highly appreciated positions can change the risk profile of your portfolio, particularly if it's been a long time since you last rebalanced. Managing the tax hit Trimming heavily appreciated positions in a portfolio that's held in a taxable account may come with a capital gains hit. One potential way to mitigate the tax is to use realized losses to offset those capital gains. In a year when losses exceed capital gains, investors can apply up to $3,000 of those losses to offset ordinary income and then carry over the remainder. Normally, these holdings would be the ones subject to the heftiest capital gains taxes if they were sold.

Persons: Blair duQuesnay, it's, Morningstar, Amy Arnott, Arnott, Roger Aliaga, Diaz, We've, Aliaga, Russell Organizations: Nvidia, Ritholtz Wealth Management, CNBC's, Vanguard, Investors, Federal Reserve, Bond Market, SEC, Aggregate Bond, U.S, Taxpayers Locations: New Orleans

☆ Janet Yellen warns AI in finance poses ‘significant risks’
▼ + stars: | 2024-06-05 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

For instance, Yellen will note that the “complexity and opacity” of AI models could cause problems. The problem is that many AI models operate as a “black box,” meaning their inner workings are impenetrable to outsiders. If Wall Street firms are relying on mysterious AI models, regulators will struggle to understand how safe their systems truly are. Likewise, Yellen will say there is a “concentration” risk linked to the fact that there are only a few companies providing AI models. AI models have a history of making stuff up, often in a convincing way.

Persons: Janet Yellen, Yellen, OpenAI’s ChatGPT, “, ” Yellen, ”, “ We’ve Organizations: CNN, US Treasury Department, Brookings Institution, Treasury, IRS, Treasury Department

☆ Visitors to Australian gallery surged 24% after billionaire Gina Rinehart objected to her unflattering portrait, director says
▼ + stars: | 2024-06-02 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Read previewVisitors to the National Gallery of Australia have surged by 24% since reports first emerged that the country's richest person had tried to get an unflattering portrait of her taken down, the gallery's director has said. The estimates hearing was called to discuss Rinehart's donation of an approved portrait of herself to Australia's National Portrait Gallery. Rinehart is the daughter of iron ore magnate Lang Hancock. AdvertisementOne of the company's main assets is the Roy Hill iron ore mining project. The project is located in Western Australia's Pilbara region and currently delivers "60 million tonnes per annum of iron ore to international markets," according to the official website.

Persons: —, Nick Mitzevich, We're, Gina Rinehart, Vincent Namatjira, Barbra Streisand's, Streisand, Jason Reed, Namatjira, Bree Pickering, Rinehart, Pickering, Rinehart . Rinehart, Lang Hancock Organizations: Service, National Gallery of Australia, Business, Sydney Morning Herald, Hancock, National, Australia's, Australian Broadcasting Corporation, Bloomberg Locations: Malibu, Hancock, Western Australia's

☆ Early retirees and financially independent investors share 3 IRS rules they've used to avoid taxes and improve their finances
▼ + stars: | 2024-05-31 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Business Insider has spoken to financially independent real estate investors and early retirees who have used IRS rules to improve their financial situation. AdvertisementThough there are a lot of restrictions, it made sense for Cooper, who was fully committed to early retirement. "The longer it's sitting in there, the more money it's going to generate, the more taxes you're going to pay down the road. Zeona McIntyre uses 1031 exchanges to sidestep capital-gains taxes indefinitelyBoulder-based real estate investor and author of "30-Day Stay," Zeona McIntyre. There are ways to reduce your capital-gains tax liability, like deducting your property's depreciation.

Persons: —, Mindy, Carl Jensen, Carl, Mindy Jensen, Mindy Jensen Colorado, they've, Eric Cooper, Eric Cooper Eric Cooper, Cooper, Zeona McIntyre, Zeona McIntyre Zeona McIntyre, you'll, McIntyre, There's Organizations: Service, Business, IRS, Independence Locations: Colorado, I'm, Boulder

☆ More Americans will be able to file their taxes for free through the IRS next year
▼ + stars: | 2024-05-31 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

"The Treasury Department and IRS look forward to working with states to expand Direct File for Americans across the country," Treasury Secretary Janet Yellen said in a statement. More than 140,000 taxpayers used the free filing option, the IRS reports, exceeding the agency's expectations for the pilot program. Beyond increasing access to the Direct File program to all states, the IRS is working on other ways to broaden eligibility. The IRS also announced it would extend its Free File program through 2029. "Free File was part of a successful filing season at the IRS that saw increased interest in a range of free programs to help taxpayers."

Persons: Janet Yellen, Danny Werfel Organizations: Internal Revenue Service, . Treasury, Washington D.C, Treasury Department, IRS, Treasury, Biden, CNBC Locations: Washington, filers

☆ IRS plans to make its free tax filing program permanent
▼ + stars: | 2024-05-30 | by ( Katie Lobosco | ) edition.cnn.com time to read: +5 min

Washington CNN —The Internal Revenue Service said Thursday that it will continue and expand its free tax filing program in 2025. It provides step-by-step guidance to taxpayers filing their federal tax returns. Direct File was available to people with certain simple tax returns in 12 states during the 2024 tax filing season. More than 140,000 people successfully filed their federal tax returns using Direct File, exceeding the agency’s expectations. During the 2024 tax filing season, eligibility was limited to people with simple tax returns.

Persons: Biden, they’re, Janet Yellen, “, Danny Werfel, haven’t, Werfel Organizations: Washington CNN, Internal Revenue Service, Democrat, “, IRS Locations: Washington, ”

☆ IRS free tax filing program to be available nationwide starting in 2025
▼ + stars: | 2024-05-30 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

IRS Commissioner Danny Werfel testifies before the House Appropriations Committee on May 07, 2024 in Washington, DC. The IRS will expand Direct File, its free tax filing program, nationwide starting in 2025, the agency and the U.S. Department of the Treasury announced on Thursday. "The Treasury Department and IRS look forward to working with states to expand Direct File to Americans across the country." Direct File was available to limited taxpayers in 12 states during the 2024 filing season. More than 140,000 users successfully filed returns using Direct File and the pilot saved an estimated $5.6 million in tax preparation fees, the agencies announced in April.

Persons: Danny Werfel, Janet Yellen Organizations: IRS, U.S . Department of, Treasury, Treasury Department Locations: Washington ,

☆ The IRS says its direct file program saved Americans $5.6 million in filing fees. Now they're making it permanent.
▼ + stars: | 2024-05-30 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

And so, after a successful pilot run, the tax agency has announced that it's making its new free direct file program permanent. The Direct File program first launched in twelve states for the 2023 filing season following a successful pilot. "Since the direct file pilot was completed in April, we have heard directly from hundreds of organizations across the country, more than a hundred members of Congress, from individual direct file users, and those that are interested in using direct file," Werfel said. The new Direct File program has encountered some pushback from paid tax services. Did you use Direct File and save time or money?

Persons: —, It's, haven't, Janet Yellen, Danny Werfel, Aaron Mok —, Werfel, Rick Heineman, Heineman, filers, Natalie Quillian, Biden's Organizations: Service, IRS, Business, Treasury Department, Intuit TurboTax, Treasury, House Locations: Yellen

Louisville, Kentucky CNN —All charges against Scottie Scheffler have been dismissed less than two weeks after the world No. “Based upon the totality of the evidence, my office cannot move forward in the prosecution of the charges filed against Mr. Scheffler,” County Attorney Mike O’Connell said Wednesday in court. “He’s glad it’s over,” Romines said of Scheffler, who lives in Texas and had permission to miss Wednesday’s hearing. It appears to show an officer read Scheffler his Miranda rights before questioning the golfer about the incident. The officer, Detective Bryan Gillis, stopped Scheffler and attempted to give instructions.

Persons: Scottie Scheffler, Scheffler, Mike O’Connell, “ Mr, Anne Delahanty, –, ”, “, ” Scheffler, Steve Romines, Romines, “ He’s, ” Romines, WLKY, John Mills, Xander Schauffele, Louisville Mayor Craig Greenberg, Miranda, “ LMPD, Scheffler’s, ” Scottie Ellis, Mayor Greenberg, ” Ellis, Valhalla –, Dwight Mitchell, ESPN –, Bryan Gillis, Gillis, Jacquelyn Gwinn, Villaroel, Steve Almasy, Gloria Pazmino, Jill Martin, Jack Bantock, Eric Levenson, Ray Sanchez, Andy Rose Organizations: Kentucky CNN, PGA, Mr, “ Police, Jefferson, CNN, Louisville Metro Police Department, Valhalla Golf, PGA of America, Louisville Mayor, Valhalla Golf Club, ESPN, Louisville Police Locations: Louisville, Kentucky, Jefferson County, ” County, Texas, Louisville , Kentucky, Romines, Jefferson, Valhalla

☆ Charges dropped against Scottie Scheffler after arrest outside PGA Championship
▼ + stars: | 2024-05-29 | by ( Brody Miller | Brian Bennett | ) www.nytimes.com time to read: +3 min

1 golfer Scottie Scheffler on Wednesday, as county attorney Mike O’Connell said the office would not pursue criminal action following Scheffler’s arrest during a traffic jam outside the PGA Championship. “Scottie Scheffler doesn’t want the taxpayers of Louisville to have to pay a dime,” Romines said. Scheffler had faced charges of second-degree assault of a police officer, third-degree criminal mischief, reckless driving and disregarding traffic signals from an officer directing traffic. His play declined in the third round with a 73, but Scheffler finished the PGA Championship tied for eighth place. GO DEEPER Inside the most bizarre day in major golf with the arrest of Scottie Scheffler(Photo: Michael Reaves / Getty Images)

Persons: Scottie Scheffler, Mike O’Connell, O’Connell motioned, ”, Steven Romines, Scheffler, Scottie Scheffler doesn’t, ” Romines, John Mills, Bryan Gillis, Gillis, O’Connell, Jacquelyn Gwinn, Villaroel, Michael Reaves Organizations: PGA, Scheffler, Louisville Metro Police Department, Louisville, Valhalla Golf, Louisville Metro Police, Police Locations: LOUISVILLE, Ky, — Jefferson, Louisville, Valhalla

☆ South Africa has failed its Black majority. Nelson Mandela’s political heirs may pay the price
▼ + stars: | 2024-05-27 | by ( Hanna Ziady | ) edition.cnn.com time to read: +12 min

When South Africans vote Wednesday, an unhappy combination of rampant corruption, soaring joblessness, crippling power cuts and feeble economic growth will likely be top of mind. Black South Africans, who make up 81% of the population, are at the sharp end of this dire situation. ‘Elite enrichment’Under apartheid — and colonial rule before that — Black South Africans were violently oppressed and denied many basic human rights. Millions of South Africans still live in such informal settlements. “The poster child of this is the electricity sector.”For much of last year, South Africans were without power for at least some portion of the day.

Persons: ”, Nelson Mandela’s, —, Cyril Ramaphosa, Leon Sadiki, BEE, Moeletsi Mbeki, Thabo Mbeki, White, “, Tshediso Matona, Anders Pettersson, Black, …, Kganki Matabane, Matthew Parks, Matona, Mbeki, Ricardo Hausmann, Jacob Zuma, Haroon Bhorat, Michele Spatari, ” Bhorat, hasn’t, ANC “, Zuma, Ramaphosa, Cas Coovadia, Hausmann Organizations: Johannesburg CNN, National Congress, ANC, World Bank, Oxford Economics, Harvard University, Democratic Alliance, Bloomberg, Getty, South African Institute of International Affairs, Wits University, CNN, ”, BBEE, Black Business Council, South African Trade Unions, Harvard’s, University of Cape, South Africa’s Free, International Monetary Fund, Fitch, IMF, JPMorgan, Shell, Unilever, Business, Business Unity, Harvard Growth Locations: London, Johannesburg, Sudan, Africa, Alexandra, South Africa, Leon, Isipingo, KwaZulu, Natal, South, ”, University of Cape Town, loadshedding, Namahadi, Frankfort, Business Unity South Africa

☆ Biden's gasoline sale likely won't have a major impact on summer pump prices
▼ + stars: | 2024-05-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Gas prices trending lowerOil prices surged last month as Israel and OPEC member Iran stood on the brink of war, raising concern at the White House that gasoline prices could jump heading into the summer. When adjusting for inflation, pump prices are about 2% lower compared to last year, according to the Energy Information Administration. Even in costly California, gasoline prices are down about 27 cents over the past four weeks, he said. But de Haan said gasoline prices will likely edge lower through the Fourth of July holiday as refiners increase output, which should keep downward pressure on pump prices. "Since the pandemic, the summer driving season has not seen a surge in demand, which can push pump prices higher," said Gross, the AAA spokesperson.

Persons: Kevin Carter, Biden, Patrick de Haan, It's, de Haan, Andrew Gross, De Haan, Superstorm Sandy, Donald, Trump, Brent, Gross Organizations: Getty, The Department of Energy, Northeast Gasoline Supply, AAA, Energy Information Administration, Congress, Reserve Locations: San Diego, San Diego , California, Israel, Iran, California

☆ Businesses push Biden to grant work permits to longtime undocumented immigrants
▼ + stars: | 2024-05-23 | by ( Tami Luhby | ) edition.cnn.com time to read: +10 min

She knows there’s a bigger pool of experienced workers out there, but she can’t hire them because they are undocumented immigrants. The coalition argues Biden can do more through executive action under current law, including by expanding work permits to spouses of US citizens. All of Indiana dairy farmer Steve Obert's employees are authorized to work, but he is among the business leaders advocating for more work permits for longtime undocumented residents. Courtesy Steve ObertAll of Obert’s 15 non-family employees are foreign born and have work permits. But he knows that undocumented workers contribute a lot to the industry, as well as to the communities where they live.

Persons: Lisa Winton, Winton, Biden, ” Winton, ” Lisa Winton, Joe Biden, Donald Trump, Barack Obama, Trump, , ”, Karoline Leavitt, “, ” It’s, Steve Obert, Jessica Vaughan, Rebecca Shi, ‘, ’ ”, Shi, Vaughan, Tara Watson, Bush, Obama, Kerri Talbot, Trump’s, Steve, ” Obert Organizations: CNN, Winton Machine Company, American Business Immigration Coalition, Employers, Time, Trump, Pew Research Center, Labor, National Agricultural Workers Survey, Center, American, National Milk Producers Federation, Immigration Services, Center for Immigration Studies, Department of Homeland Security, Migration Policy Institute, Williams College, Immigration, Indiana Dairy Producers Locations: Suwanee , Georgia, Winton, Georgia, America, Indiana

☆ Wealth inequality starts at birth. Lawmakers debate whether child savings accounts can help
▼ + stars: | 2024-05-21 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

An unequal distribution of wealth in the U.S. can make it so some children are behind from birth. Now lawmakers are considering whether federal children's savings accounts can help. One proposal — the 401Kids Savings Act — would create savings accounts for all newborns. Children's savings accounts are currently available statewide in seven states — California, Illinois, Maine, Nebraska, Nevada, Pennsylvania and Rhode Island. At the end of last year, there were 121 children's savings account programs in 39 states serving 5.8 million children.

Persons: Warren Buffett's, Sen, Ron Wyden, Mike Crapo, Crapo Organizations: Finance, Senate Finance Locations: U.S, — California , Illinois, Maine , Nebraska , Nevada , Pennsylvania, Rhode, Oregon, Idaho

☆ Inside Oracle's Deadly Gamble on Cerner and Electronic Health Records
▼ + stars: | 2024-05-20 | by ( Ashley Stewart | Blake Dodge | ) www.businessinsider.com time to read: +29 min

That was the promise of Cerner, the medical-records company Oracle bought in 2021 for $28.3 billion — Oracle's biggest acquisition. At the time, Cerner managed the electronic health records for a quarter of all American hospitals, including those run by the Pentagon and the Department of Veterans Affairs. Larry EllisonCerner's electronic records, in short, were a deadly disaster for the VA. Never mind the futuristic, AI-driven healthcare system Ellison envisioned. In 2015, it beat out Epic, its main competitor, for a $4.3 billion contract to handle electronic health records for the Defense Department. It had agreed to process tens of millions of crucial medical records, but it couldn't handle the subsequent deluge of data.

Persons: Larry Ellison's, Ellison, Cerner, I'm, Larry Ellison, Neal Patterson, Cerner's, Patterson, Ellison's, they're, David Shulkin, Margaret Albaugh, Cerner couldn't, Charlie Bourg, —, Larry, Marc Benioff, Ellison protégé, Mike Wilson, David Agus, oncologist, Agus, he'd, Steve Jobs, Sensei, We've, Georges De Keerle, Cerner —, hadn't, Mike Sicilia, Sicilia, Oracle, Anthony Jones Jr, Jones, Donald Remy, didn't, Seema Verma, Neil Evans, Sara Vaezy, Ed Meagher, haven't, Charlie Monroe —, it's, Charlie Bourg —, Bourg, Charlie Monroe, Monroe, Cathy McMorris Rodgers, grandkids, We're, there's Organizations: Oracle's, Oracle, Pentagon, Department of Veterans Affairs, Cerner, RAND Corporation, RAND, Big Tech, GE, Siemens, Cerner Corporation, Defense Department, Department of Defense, Business, Spokane, Ellison Institute of Technology, Microsoft, Agency, Health, Amazon, Veterans ' Affairs, Oracle Health, Navy, Columbus VA, BI, Life Sciences, Intermountain Health, UPMC, DOD, Seabees Locations: Las Vegas, antiaging, Silicon Valley, Spokane , Washington, Cerner, VistA, Bourg, Washington, Sicilia, Ohio, Columbus, Providence, Spokane, Monroe, CloudWorld

☆ Trump-era tax cuts set to expire after 2025 — here's what you need to know
▼ + stars: | 2024-05-18 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

The TCJA reduced federal income tax rates across the board, with the top rate falling to 37% from 39.6%. That would return the federal income tax rates to 10%, 15%, 25%, 28%, 33%, 35% and 39.6%. In the meantime, some higher earners have been leveraging lower income tax rates through 2025 by incurring income now, experts say. The standard deduction could fallWhen filing taxes, you claim the standard deduction or itemized deductions, whichever is greater. Before 2018, about 70% of taxpayers claimed the standard deduction, compared with 90% in tax year 2020, according to the Tax Policy Center.

Persons: Donald Trump, Michael M, Erica York, Roth, it's, Gleckman, Robert Dietz Organizations: Santiago, Getty, Tax, Center, Federal Tax, Senate, Bernstein Private Wealth Management, CNBC Locations: Wildwood Beach, Wildwood , New Jersey, California , New Jersey, New York, Minneapolis

☆ May 17 is the last chance to claim your 2020 tax refund — the median payment is $932, IRS says
▼ + stars: | 2024-05-17 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

May 17 is the last chance to file 2020 returns and claim your refund — which could include missed pandemic relief, experts say. As of May 6, there was still an estimated $1 billion in unclaimed refunds from tax year 2020, and the median possible payment was $932, according to the IRS. But roughly 940,000 taxpayers could surrender their 2020 refund payment if they don't file by May 17, the agency explained in May. The 2020 tax deadline was postponed to May 17, 2021, amid the pandemic — and the three-year deadline to file 2020 returns and collect refunds is now upon us. "If you let if you let it slip, there's nothing anybody can do," said Bill Smith, national director of tax technical services at financial services firm CBIZ MHM.

Persons: John Karls, Bill Smith, CBIZ Organizations: Finance

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