Latest in Tax Debt
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Should I pay off my tax debt before my credit card debt? Experts weigh in
Focusing on tax debt first can be a smart move, experts say, but that won't be the case for everyone.CBS News - 1d -
What types of debt will a debt collector sue over?
Debt collectors make calculated decisions about what to pursue through the courts — and what not to.CBS News - 2h -
Will a collection agency sue over a $5,000 debt?
Debt collectors have the right to sue you over unpaid debts, but they won't always take that route.CBS News - 3d -
Democrats unveil school lunch debt cancellation measure
Democratic Senators introduced a bill Thursday to cancel all school meal debt. The measure, led by Sen. John Fetterman (Pa.), states the United States Department of Agriculture (USDA) would pay ...The Hill - 4h -
The state and local tax deduction could change amid Trump's tax cuts debate. Here's what to know
The state and local tax deduction could change in 2025 as lawmakers debate Trump's tax cuts. Here's what to know.CNBC - 23h -
Haven't paid your credit card debt? Here are the legal consequences to know.
Not paying your credit card debt can have serious repercussions, but does that include legal ramifications?CBS News - 3d -
3 signs your credit card debt is overwhelming you, according to experts
Borrowers should recognize these early warning signs to address credit card debt before it becomes unmanageable.CBS News - 2d -
When bankruptcy will (and won't) clear your credit card debt
Bankruptcy can wipe the slate clean of your existing credit card debt, but it won't do that in every case.CBS News - 2d -
How do you stop wage garnishment by a debt collector?
Having a portion of your paycheck taken for old debt can be frustrating, but there are ways to stop the process.CBS News - 2d -
State and local tax deduction could change amid Trump's tax cuts debate. Here's what to know.
As lawmakers debate President Donald Trump’s tax cuts, a key deduction could become a sticking point in 2025 tax negotiations, policy experts say.NBC News - 1h -
Protecting yourself from tax identity theft
Karla Dennis is an enrolled tax agent with KDA Incorporated, a tax strategy business. She joined CBS News to discuss how to protect yourself from someone stealing your identity and filing a tax ...CBS News - 2d -
Behind Ontario's tax on electricity for the U.S.
Canada's Ontario province is charging a 25% tax on electricity sent to the U.S. as retaliation over President Trump's tariffs. CBS News' Shanelle Kaul spoke to Ontario's energy minister, Stephen ...CBS News - 2d -
How the Tax Bill Could Impact Your Wallet
Brackets may change. The standard deduction could fall. And President Trump will probably not remove taxes on Social Security income.The New York Times - 3d -
How to calculate your Social Security tax obligations
Wondering what you'll pay in taxes on your Social Security benefits? Here's how to do the math.CBS News - 2d -
How the IRS can crack down on ghost tax return preparers
Indeed, thousands of tax return preparers systematically subvert the tax return filing process, rob the Treasury of revenue and undermine taxpayers’ faith in the system.The Hill - 5d -
Credit counseling vs. bankruptcy vs. debt relief: Which path is right for you?
If you're trying to tackle your debt problems, it's important to know what strategy makes the most sense.CBS News - 1d -
Ray Dalio warns that mounting U.S. debt problems could lead to ‘shocking developments'
Bridgewater founder Ray Dalio on Wednesday warned that a "very severe" supply-demand problem regarding U.S. debt could lead to shocking developments.CNBC - 1d -
The etiquette of digital debts among friends
A recent article in the Wall Street Journal looked at the "unspoken rules" of digital payment apps like Venmo and tried to decipher the proper etiquette for requesting money back from friends. The ...CBS News - 3d -
$1 billion in unclaimed tax refunds to expire soon: How to claim your money
The IRS warns that an estimated $1 billion in tax refunds from the 2021 tax year may become the property of the U.S. Treasury if over 1.1 million Americans do not file their tax returns by April ...The Hill - 2d -
'Wealthy tax dodgers' could benefit from IRS layoffs, Democrats warn
Democrats says "wealthy tax dodgers" could see less IRS scrutiny amid agency layoffs. Here's what to know.CNBC - 2d -
5 smart tax moves seniors should make before April 15
Seniors who want to ease the stress and expenses that come with tax season should make these moves now.CBS News - 1h -
GOP senator says 'tariffs is a tax' and Trump understands 'completely'
A GOP senator says President Trump's tariffs are a tax on American consumers, and Trump knows but the goal is to create open markets and long-term fairnessThe Hill - 3h -
'Wealthy tax dodgers' could benefit from IRS layoffs, Democrats warn
As the IRS faces mass layoffs, Congressional Democrats warn those staffing cuts could undermine the agency’s progress in collecting unpaid funds from “wealthy tax dodgers.”NBC News - 2d -
Senate Republicans push Trump for debt ceiling plan
The Louisiana senator has been tapped to consult with the president on a strategy for avoiding a federal default.Politico - 2d -
21 House Republicans ask leadership to limit changes to energy tax credits in reconciliation
A group of 21 House Republicans is asking a key committee to limit changes to energy tax credits passed under Democrats as the GOP seeks to overhaul the U.S. tax code. In a new letter dated ...The Hill - 3d -
Dr. Mehmet Oz may have underpaid Medicare and Social Security taxes, Senate Democratic memo finds
Dr. Mehmet Oz, President Donald Trump’s nominee to oversee the Center for Medicare and Medicare Services, may have “significantly” underpaid Medicare and Social Security taxes.NBC News - 1h -
Trump says Democrats would be to blame for shutdown, suggests it could delay tax cuts
President Trump said Thursday that Democrats would be to blame if government funding runs out this week and suggested a shutdown could delay GOP efforts to extend expiring tax cuts. "They do a ...The Hill - 40m -
Scammers Stole Their Retirement Savings. Then the Tax Bill Arrived.
The victims pulled money out of their retirement accounts. The withdrawals had inflated their taxable income, even though the funds quickly disappeared.The New York Times - 5d -
Businesses bemoan Indian ‘tax terrorism’ and red tape
Officials vow to cut bureaucracy and fiscal burden amid fears they could hurt investmentFinancial Times - 4d -
The U.S. dollar is still the world’s currency — but maybe not for much longer
Concerns are rising about the sustainability of U.S. government debt and spending.MarketWatch - 5d -
Threshold for filing ‘side hustle’ tax return to rise to £3,000 in UK
Cash earnings to increase from current level of £1,000 in boost to people who sell goods onlineFinancial Times - 2d -
Gavin Newsom’s Podcast Hosts Steve Bannon, Covering Musk, Trump and Taxes
The California governor hosted one of the architects of President Trump’s political movement on his new podcast, and their friendly sparring revealed a few points of agreement.The New York Times - 1d -
‘Be careful about this’: Warnings abound as GOP considers writing off tax cuts
Republicans will discuss the accounting maneuver with President Donald Trump on Thursday.Politico - 22h -
‘It’s not because I want people to think I’m great’: Michael Sheen on paying off £1m of his neighbours’ debts
The actor grew up poor, got rich, then lost everything backing the 2019 Homeless World Cup. Now he’s giving away more of his money to help 900 total strangers. Doesn’t he think he’s done enough?. ...The Guardian - 3d -
Germany’s Greens vow to block Merz’s flagship spending package
Party officials reject €500bn infrastructure fund plan and change to debt borrowing rules to fund defence spendingFinancial Times - 3d -
Lagarde says ‘impossible’ for ECB to always guarantee 2% inflation
Potential price pressure from trade war and debt-fuelled borrowing add to uncertainty, warns central bank presidentFinancial Times - 1d