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WASHINGTON (AP) — More than 9 million people and families who did not receive their advance child tax credit checks, stimulus payments and other tax rebates will soon get a letter from the IRS to claim their money. The tax credit was originally offered through President Joe Biden’s $1.9 trillion coronavirus relief package. The government […]

NEW YORK (AP) — Tens of millions of older Americans are getting the biggest raise of their lifetimes. The U.S. government announced Thursday that Social Security beneficiaries will see an 8.7% increase in monthly payments this upcoming year, the largest increase in four decades. It’s all part of an annual ritual where Washington adjusts Social […]

As many as 10 million people may still be entitled to receive a COVID-19 stimulus payment, the government’s internal watchdog said Tuesday.

NEW CARROLLTON, Md. (AP) — Treasury Secretary Janet Yellen laid out her vision for a modernized, responsive, tech-savvy tax collection agency equipped to manage 21st century challenges at an IRS office in New Carrollton, Maryland, on Thursday. Yellen said the agency plans to hire 5,000 new customer service representatives to vastly improve taxpayer service before […]

NEW YORK (AP) — Americans picked up their spending a bit in August from July even as surging inflation on household necessities like rent and food took a toll on family budgets. U.S. retail sales rose an unexpected 0.3% last month after falling 0.4% in July, the Commerce Department said Thursday. Excluding business at gas […]

WASHINGTON (AP) — Now that President Joe Biden signed Democrats’ expansive climate, tax and health care bill into law, Treasury Secretary Janet Yellen has directed the IRS to develop a plan within six months outlining how the tax agency will overhaul its technology, customer service and hiring processes. In part, the improvements are meant to […]

SILVER SPRING, Md. (AP) — The potential sale of the Kohl’s department store chain has fallen apart in a shaky retail environment of rising inflation and consumer anxiety. Kohl’s entered exclusive talks early this month with Franchise Group, the owner of Vitamin Shop and other retail outlets, for a deal potentially worth about $8 billion. […]

“What baffles me is I work for the governmentm” said Jeanette Carpenter.

WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Thursday’s report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families and […]

WASHINGTON (AP) — The Internal Revenue Service said Tuesday that it will have erased its backlog of last season’s tax returns by the end of this week. And with 143 million returns from this year’s tax season processed so far, agency officials say there’s a greater likelihood of being caught up on processing all returns […]

The U.S. is already facing record-setting inflation – will student loan forgiveness make it worse?