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(SmartAsset) – Seen as a sign of success and financial comfort, a six-figure salary has long been an important milestone for American workers. But the times have changed and $100,000 isn’t quite what it used to be, especially as rampant inflation continues to sap the purchasing power of money and push the cost of living […]

The Internal Revenue Service is sending letters to millions who did not claim stimulus payments, earned income tax credits, or other benefits.

JEFFERSON CITY, Mo. (AP) — Just six months after passing what was billed as the largest tax cut in Missouri history, the Republican-led state House voted Tuesday for an even bigger income tax cut that could return over $1 billion annually to individuals, corporations and retirees. The Missouri legislation is the latest in a series […]

Many Americans pay to use software from private companies such as Intuit and H&R Block. But there could be a new, free option coming from the government.

WASHINGTON (AP) — It’s that time of year when throngs of taxpayers are buckling down to file their income tax returns before Tuesday’s filing deadline. Many often pay to use software from private companies such as Intuit and H&R Block. Almost one-quarter of Americans wait until the last minute to file their taxes. There could […]

LONDON (AP) — Norwegian startup Freyr will first build batteries to power electric vehicles and store clean energy in a remote town near the Arctic Circle. Up next? An Atlanta suburb. That’s because a new U.S. clean energy law offers generous tax credits — up to 40% of costs — in what is a “massive, […]

After a historic and prolonged battle over the Speakership, House Republicans on Monday moved to wrap up some unfinished organizing business that was put on hold due to opposition to Speaker Kevin McCarthy (R-Calif.) — including picking who will lead key panels. The House GOP Steering Committee, a panel of around 30 lawmakers consisting of […]

A Missouri resident found she’d been charged twice at Walmart, totaling more than $1,100.

WASHINGTON (AP) — House Republicans are promising aggressive oversight of the Biden administration once they assume the majority next year, with a particular focus on the business dealings of presidential son Hunter Biden, illegal immigration at the U.S.-Mexico border and the originations of COVID-19. Republicans won’t have enough votes to advance key legislative priorities if […]

JEFFERSON CITY, Mo. (AP) — Stoked by the largest surplus in state history, Missouri’s Republican-led Legislature devised a $500 million plan to send one-time tax refunds to millions of households. In a shock to some, GOP Gov. Mike Parson vetoed it. Parson’s objection: He wanted a bigger, longer-lasting tax cut. “Now is the time for […]

President Joe Biden’s budget director was put in the hot seat on Tuesday as lawmakers grilled her over the administration’s newly-released spending plan.