Author: Money Mechanics

Millions of taxpayers who make certain tax filing or payment mistakes could get a break from IRS penalties without having to ask.Starting this summer, the IRS will automatically review taxpayers for First-Time Abatement relief, a program that can waive certain failure-to-file, failure-to-pay, and failure-to-deposit penalties for taxpayers with a clean compliance history.The agency estimates the change could eventually help more than 1.5 million taxpayers each year. That’s compared with roughly 220,000 taxpayers who reportedly obtained similar relief under the previous process, which required taxpayers to request a penalty waiver after the IRS assessed a penalty. From just $107.88 $24.99 for…

As the saying goes, “You’re only as happy as your least-happy child.” Any parent or grandparent knows how true that feels.We may spend a lifetime building financial security, saving for retirement, buying insurance and drafting detailed estate plans. Some families even create spreadsheets spelling out who gets the wedding ring, the family home, the brokerage account, the antique table or the emerald earrings.All of that planning matters. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues CLICK FOR FREE ISSUE Sign up for…

Tax planning for executives can look very different from standard financial advice. The reason? Your compensation package likely includes a complex mix of salary, bonuses, company stock and deferred compensation — all of which involve tax considerations.Last year’s One Big Beautiful Bill Act (OBBBA) introduced new “tax traps” specifically targeting the executive suite.In 2026, a $75,000 bonus could lower your net take-home pay if it triggers the wrong phase-out. At this level, what matters isn’t what you earn, but what you keep. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88…

Tolls in the Strait of Hormuz now look almost impossible to avoid. Should they land, the world will be paying a new tax on energy itself, and everyone from investors to households will feel it. Oil markets are extending Monday’s biggest one-day surge since the pandemic era, with climbing further past $85 a barrel on Tuesday after President Trump announced a 20% fee on cargo transiting the strait alongside a renewed naval blockade of Iranian ports. I think this moment deserves more attention than it is getting, because it marks a genuine shift in how the world’s most important energy…

The catastrophe bond market reached new heights in terms of issuance and activity levels in the second-quarter of 2026, with a number of important records being set as cat bond sponsors and investors continued to show growing commitment to the space.Having published our new report that analyses second-quarter and first-half 2026 catastrophe bond issuance last week, we wanted to follow-up and highlight some of the new records that were set in Q2. Last week we delved into the half-year records that were broken in the cat bond market in H1 2026, now we look at the quarter only and it…

Rocket has hired Jim Dalrymple as principal of industry relations, a role focused on building relationships with MLSs, trade associations, brokerage leaders and technology partners across the housing industry. As a homeownership platform connecting search, financing and servicing, Rocket and Redfin are investing in the relationships that will shape where this industry goes next. Jim joins Rocket after spending more than seven years at Inman, a leading real estate news source, most recently serving as editorial director. During his journalism career, Jim earned a reputation for thoughtful reporting, deep industry knowledge and a balanced perspective on the issues shaping housing…

A Utah woman is accused of retaliating against a former apartment manager who evicted her by listing the woman’s apartment for rent.Elisa Jo Nelson, 26, of South Jordan was charged with fraudulently advertising a real estate property, a second-degree felony. She was also charged with unlawful online impersonation, a Class A misdemeanor, and electronic communication harassment, a Class B misdemeanor.The charges stem from a February 2025 harassment complaint made by a woman who said that her home had been listed as available online for $950 a month without her consent. The listing included the woman’s personal phone number, resulting in…

There isn’t a universal answer to whether a gold IRA makes sense. The answer depends on how physical precious metals are intended to work within a retirement strategy, alongside factors such as investment horizon, diversification, costs, and portfolio structure. A gold IRA allows investors to hold IRS-approved physical precious metals inside a retirement account. Unlike traditional IRAs, which primarily hold financial securities, a gold IRA requires custodians, approved storage, and additional administration because the underlying assets are physical rather than electronic. Whether those differences represent advantages or trade-offs depends on what an investor hopes to accomplish. In practice, the answer…

Good morning. It is a pleasure to join you this morning.1 Today, I would like to discuss the work that is currently under way in the Financial Stability Board’s Standing Committee on Supervisory and Regulatory Cooperation (or “SRC”) on modernizing financial regulation and supervision. Our efforts in the United States have been progressing swiftly over the past year, and most jurisdictions around the world have undertaken similar reviews of their respective regulatory and supervisory financial system frameworks. Nearly a year ago, I assumed the chairmanship of the FSB’s SRC. One of the SRC’s workstreams under my leadership is the FSB’s…

Federal Reserve Chairman Kevin Warsh, who is making a point of getting to the point in his new role, did just that in his first news conference as chairman on June 17. “Persistently high prices are a burden for the American people,” he said. But one thing he left out about nationwide inflation is that in some states, prices are much less of a burden than they are in others. The cost of living is an important consideration when companies decide where to do business. A low cost of living can help them attract workers. It also means they might be able to…