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Constantine Johnny | Moment | Getty Images Tax season has begun, and it typically comes with a big uptick in tax-related scams. There were nearly 7.8 million reports of suspicious activities in 2022, according to a recent report from the Identity Theft Tax Refund Fraud Information Sharing Mission & Analysis Center, a partnership between the

Tim Bieber | Photodisc | Getty Images Amid stock market gyrations, recession fears and loftier payouts, consumers last year pumped a record sum of money into annuities, a type of insurance that offers a guaranteed income stream. Buyers funneled $310.6 billion into annuities in 2022, according to estimates published by Limra, an insurance industry trade

Allison Michael Orenstein | Getty Images As the tax season kicks off, seniors may be facing new questions this year. A record 5.9% Social Security cost-of-living adjustment last year likely pushed up their income. Meanwhile, other income, such as required minimum distributions, other retirement account withdrawals or part- or full-time work may make filing more

Moyo Studio | E+ | Getty Images The first Social Security check was issued 83 years ago. The check, for $22.54, went to retired legal secretary Ida May Fuller of Ludlow, Vermont. Today, in 2023, the average retirement benefit is $1,827 per month, according to the Social Security Administration. The maximum Social Security benefit for

D3sign | Moment | Getty Images It’s tax season, and Americans are confronted by a lot of tax jargon when preparing their returns. Two types of tax breaks stand out among all the lingo: credits and deductions. Each lowers your tax liability, which is the total annual tax owed on your income. (That figure can

ozgurcankaya As tax season begins, you may be eager to file your tax return for a faster refund and to check the annual task off your list. For most filers, the tax deadline is April 18, and the IRS urges Americans to prepare before filing to avoid processing and refund delays, along with future IRS

A worsening macroeconomic climate and the collapse of industry giants like FTX and Terra have weighed on bitcoin’s price this year. STR | Nurphoto via Getty Images After a tough year for crypto, you may be looking for ways to turn steep losses into possible tax breaks. The digital currency industry lost nearly $1.4 trillion

Damircudic | E+ | Getty Images This is an excerpt from the Personal Finance team’s weekly Twitter Space, “This week, your wallet.” Check out the latest episode here, and tune in every Friday at 11 a.m. ET. Tax season kicked off Jan. 23. The IRS expects taxpayers to file more than 168 million returns, most

Drakula & Co. | Moment | Getty Images Tax season officially kicked off for individual filers on Jan. 23. This year’s tax deadline is April 18 for most filers.  Although the IRS expects to start the filing season stronger, taxpayer service improvements may take time as the agency hires and trains more workers.   In the

Residents drop off Covid-19 PCR tests at a testing site run by the Centers for Disease Control, Federal Emergency Management Agency and eTrueNorth in Washington, D.C., on Jan. 5, 2022. Eric Lee | Bloomberg | Getty Images When Christopher Perry got sick in July 2021, he thought he just had a bad cold. But after

Insta_photos | Istock | Getty Images If you’re getting close to retirement age, there are some upcoming changes enacted as part of a government funding bill that may be of interest to you. Dozens of retirement-related provisions known as Secure 2.0 were included in an omnibus appropriations package that cleared Congress last week. While the

Mike Yada Courtesy: Mike Yada Mike Yada remembers the day in August 2020 when it became clear that his unusual symptoms — which emerged after a mild case of Covid-19 earlier in the year — were worsening. “I went for an easy hike, but by the end I was so winded that I couldn’t walk