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This DC senior was tricked into draining her 401(k) — now she’s on the hook for $180K in taxes after Congress stalled relief bills to help fraud victims ... program, intended to help people ...
Retirement savings and investments can have more complex tax rules than income, where you often get taxes deducted automatically from each paycheck and a W-2 at the end of each year. Here are some ...
As of the end of the 2023 fiscal year, the SSA still had more than $23 million in overpayments it had yet to recoup. Read more: Why people who work with a financial advisor retire with an extra $1 ...
The Washington Post cited critics who stated balancing the budget would require higher taxes or cuts to Medicare or Social Security, and DOGE's proposal to slash federal programs that Congress funds but whose authority had lapsed would cut "veterans' health care, initiatives at the State and Justice departments and NASA, and multiple major ...
Second was to "transform the “world of aging” policies, programs, and organizations from a series of “stove-pipes” into a 21st Century system of coordinated services and networks that will meet the future needs of the baby boomers, while also improving services to current seniors. Programs should be updated to accommodate new technology ...
In the United States, government shutdowns occur when funding legislation required to finance the federal government is not enacted before the next fiscal year begins. In a shutdown, the federal government curtails agency activities and services, ceases non-essential operations, furloughs non-essential workers, and retains only essential employees in departments that protect human life or ...
Social Security recipients could get an additional $2,400 a year in benefits if a new bill recently introduced to Congress wins approval -- something seniors would no doubt welcome as surging ...
The Fiscal Responsibility Act of 2023, passed in June 2023, resolved that year's debt-ceiling crisis and set spending caps for FY2024 and FY2025. The act called for $895 billion in defense spending and $711 billion in non-defense discretionary spending for fiscal year 2025, representing a 1% increase over fiscal year 2024. [10]