Shares of Digital World Acquisition Corp., the special purpose acquisition company that is buying the company behind Donald Trump’s Truth Social, soared in after-hours trading Thursday after Trump pos...
Tag: Executive Branch
Natural Gas Prices are Holding Up. Here’s Why.
Text size The Yamal-Europe pipeline from Russia has exit points in Wloclawek, Poland. The pipeline is a major source of Europe’s natural gas. Omar Marques/Getty Images Vladimir Putin’s decision ...
CEO reportedly laments red ink incurred from Air Force One deal as Boeing posts $1.2 billion first-quarter loss
Boeing said Wednesday that it lost $1.2 billion in the first quarter as it took large write-downs and lost money in both its civilian-airplane and defense businesses. The loss was bigger than Wall Str...
‘The issues with the IRS are still present and very real’: Millions of Americans are racing to file their tax returns, and filing extensions
Tax Day came and went earlier this week, so if your upcoming weekend plans are just chilling after the last-minute tax time bustle, you might have company. April 18 marked the deadline in most states ...
Biden administration launches student loan review, says 40,000 borrowers will see debt canceled
The Department of Education announced Tuesday a new review of its student debt portfolio, which it says will correct for past mistakes that denied 3.6 million borrowers credit toward student loan forg...
Warren Tells IRS to Focus Audits on the Rich, Not Low-Income Taxpayers
Lawmakers are calling on the IRS to stop disproportionately auditing low-income taxpayers, who they say are far more likely than other taxpayers to face IRS scrutiny, with audit rates for poorer filer...
You Made $700 From an Online Side Hustle. Now the IRS Will Know.
Now that your 2021 taxes are done—or at least under way—it’s time to focus on a key tax change for 2022 affecting millions of Americans making money through platforms like eBay , Etsy , Airbnb , Venmo...
Recession is `the most likely’ outcome for U.S. economy, says Larry Summers
Former Treasury Secretary Larry Summers, whose out-of-consensus views about the risks of persistent inflation have come true, is reiterating his concerns about a potential U.S. downturn: He now says a...
The Safe Investment That Will Soon Yield Almost 10%
There’s no such thing as a free lunch in finance. Except maybe this: The interest rate on inflation-adjusted U.S. savings bonds will approach 10% beginning in May. U.S. Treasury Series I Bonds, or I B...
Why Russia Doesn’t Want to Default—Even in a Time of War
Behind the fight over whether Russia should be allowed to pay off its debts is an age-old issue: Borrowers, even in times of war, want to keep their reputations for making investors whole. The U.S. Tr...
U.S. corn and soybean stocks rise, but corn plantings forecast cut: USDA
Corn futures climbed Thursday after reports from the U.S. Department of Agriculture on Thursday revealed higher U.S. corn and soybean stocks, along with a lower forecast for this year’s planted corn a...
Ukraine’s Friends Refuse to Pay Russia Rubles for Gas. What Could Come Next.
The Kasimovskoye underground gas storage facility operated by Gazprom, in Kasimov, Russia. Andrey Rudakov/Bloomberg Text size Vladimir Putin was rash enough to invade Ukraine. Could he double his bet ...
Worried About Getting Audited? Here Are Red Flags for the IRS.
Even though the Internal Revenue Service is auditing fewer taxpayers these days, you still don’t want to put a target on your back. Among those more likely to get audited: Small-business owners with l...
Putin signs decree to prohibit leaving Russia with more than $10,000 in foreign currency
Russian President Vladimir Putin on Tuesday signed a decree that prohibits taking more than $10,000 worth of foreign currency in cash and “monetary instruments” out of Russia. The move comes in respon...
Dow futures sink about 500 points as Putin orders deployment of troops to eastern Ukraine
U.S. stock-index futures were headed sharply lower Monday evening as Russian President Vladimir Putin ordered the deployment of troops to separatist areas within Ukraine, after recognizing their indep...
IRS to activate second ‘surge’ team to handle millions of backlogged tax returns
Two weeks ago, the Internal Revenue Service said it was reassigning 1,200 staffers as a “surge team” of reinforcements tasked with cutting into a backlog that included millions of unprocessed returns ...
The IRS will stop sending out one type of taxpayer notice to try to cut down on aggravation this tax season
Trying to minimize aggravation during a tax-filing season that could have plenty of challenges, the Internal Revenue Service said it is pausing one of its notices that could ferment taxpayer frustrati...
DirecTV to Drop OAN Conservative News Channel
DirecTV said Friday it plans to drop conservative news channel One America News Network, a move that could sharply reduce the pro-Trump channel’s audience. “We informed Herring Networks that, followin...
‘Life is measurably better without the burden of this debt’: As Biden reviews student-debt cancellation, young people with debt delay buying a house and even having kids
Young Americans are buckling under the weight of their student debt. A large majority (74%) of Generation Z (ages 18 to 25) and 68% of millennials (ages 26 to 41) who took on student debt delayed a ma...