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In a significant move to assist eligible taxpayers, the Internal Revenue Service (IRS) recently announced that it will distribute automatic “special payments” of up to $1,400 to approximately one million taxpayers who missed claiming the 2021 Recovery Rebate Credit. This proactive strategy marks an important step in ensuring that eligible individuals receive the financial support
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The iconic Christmas classic “Home Alone” has delighted audiences since its release in 1990. Beyond its slapstick humor and heartwarming themes, the film presents a perplexing yet rather engaging financial narrative centered around the fictitious McCallister family. As viewers have revisited this beloved holiday film, a curious inquiry has arisen: just how affluent were the
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As the festive season approaches, consumer spending intensity peaks, resulting in unprecedented sales figures that retailers are eager to celebrate. However, lurking beneath the excitement of boom sales lies the complex and often burdensome issue of product returns. This post-holiday spike in return activity has garnered a unique moniker – “Returnuary.” According to the National
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In recent years, a significant shift has emerged in the retirement savings landscape, particularly among younger generations. With the balance in retirement accounts rising rapidly, many millennials are discovering that achieving millionaire status in their 401(k) plans is becoming a reality. This demographic trend is reflected in a staggering 400% increase in the number of
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The ongoing legislative discussions surrounding the Social Security Fairness Act are emblematic of broader issues faced by public workers and retirees in America today. As Congress grapples with the threat of a government shutdown, the Senate’s consideration of this significant bill highlights a multifaceted struggle over Social Security benefits that potentially impacts millions of workers.
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As discussions surrounding international trade and tariffs heat up in the United States, it is crucial for consumers, automakers, and stakeholders in the automotive sector to understand the potential implications. President-elect Donald Trump has raised the issue of imposing tariffs on imported goods, particularly targeting products from China, Canada, and Mexico. These proposed tariffs pose
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Recent statistics surrounding 401(k) savings reveal an optimistic trend in retirement planning among American workers. The average total savings rate, which encompasses both employee contributions and employer matches, has nudged upward to 12.7% in 2023. This reflects a modest increase from the 12.1% reported in the previous year. The findings, drawn from a comprehensive survey
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In 2023, a transition of student loan accounts from NelNet to Mohela has sparked considerable alarm among lawmakers, who allege that the transfer was fundamentally flawed. An investigative letter sent to key government agencies—including the Consumer Financial Protection Bureau (CFPB) and the Department of Education—revealed profound issues resulting in millions of inaccuracies in consumer credit
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As we approach the end of the year, the cryptocurrency market, specifically Bitcoin, showcases significant growth and volatility, compelling investors to make strategic decisions regarding their portfolios. With Bitcoin prices recently surpassing the landmark $100,000 mark, and boasting an impressive year-to-date increase exceeding 130%, many investors find themselves in a dilemma: should they hold their
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Since the U.S. elections in November, the cryptocurrency market has experienced significant growth, highlighted by Bitcoin reaching unprecedented heights above $107,000. This surge has been largely attributed to the anticipated regulatory environment under President Donald Trump, who has articulated a pro-cryptocurrency stance. The excitement surrounding digital assets has captivated many investors; however, not all financial
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