July Marks a Milestone for IRS Tax Credits Payment Schedule. July is set to bring pivotal adjustments to how taxpayers navigate IRS tax credits and their corresponding payment schedules. With the second half of the year kicking in, these changes directly impact anyone looking to leverage tax credits to their financial advantage. Officials have streamlined processes, introducing a system designed to ease the tax burden on a broad spectrum of individuals and families.

What Changes Are Coming in July for the IRS Tax Credits Payment Schedule?

Over the past year, government regulators have recovered $1 billion from high-income, high-wealth individuals through taxation schemes. The Department of the Treasury and Internal Revenue Service (IRS) announced the taxation milestone as part of ongoing legislative work. U.S. Secretary of the Treasury Janet L. Yellen said that the “new initiative...

$1 billion recovered from high-income, high-wealth individuals from taxation

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Heidi Lothringer

The Child Tax Credit monthly payments began and ended in 2021. Don't fall for this scam. Recently, a post circulating online has caused quite a stir with claims about a new Child Tax Credit (CTC) monthly payment program set to begin in July 2024. According to this post, the IRS will deposit $300 monthly for children under six and $250 monthly for those aged six to seventeen. However, it's important to know that this information is false and misleading. Here's what you need to know:

Are you getting this monthly payment every month from the IRS? No, you're not, it's not real.

SmartAsset

My spouse will inherit her father's house outright upon death and wants to sell it immediately. Would she be subjected to capital gains tax (above the $250,000 exclusion) on the sale and would it matter if only she is on the deed? Or would it make sense to have both of us on the deed to […] The post Ask an Advisor: We’re Inheriting a House. How Can We Avoid Capital Gains Tax When We Sell It? appeared first on SmartReads by SmartAsset.

Ask an Advisor: We're Inheriting a House. How Can We Avoid Capital Gains Tax When We Sell It?

Black Enterprise

Another day, another scam. The Internal Revenue Service (IRS) is alerting taxpayers of a new scam prompting them to purchase clean energy tax credits. The target: taxpayers who have filed a Form 1040, which is typically used to determine how much is owed by the individual or if they are due a tax refund. In a statement, the agency identified the scammers as “unscrupulous tax return preparers” who are misleading individuals on the rules surrounding clean energy credits.

IRS Warns Of New Scam Prompting Tax Payers To Purchase Clean Energy Tax Credits

Many seniors are unsure about their tax responsibilities. Particularly concerning Social Security income. It's commonly questioned when they may stop filing taxes on these benefits. Those whose sole income is Social Security likely don't need to file a federal income tax return. Senior citizens, especially, have distinct guidelines to consider....

When Are Senior Citizens Exempt from Filing Taxes on Social Security Income?

As you approach retirement, your financial focus shifts. During your working life, retirement is about goals and planning. You decide what kind of lifestyle you want, figure out what kind of income will support that spending, then build a savings and investment plan to reach those goals. That should be your retirement approach at age […] The post I’m 65 With $1.2 Million in an IRA. I’ll Get a $2,900 Monthly Social Security Benefit. What’s My Retirement Budget? appeared first on SmartReads by SmartAsset.

I'm 65 With $1.2 Million in an IRA. I'll Get a $2,900 Monthly Social Security Benefit. What's My Retirement Budget?

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NewSantaAna

The FBI has seen a rise in scams targeting timeshare owners. In this kind of scam, criminals con these part-time property owners into shelling out hefty sums of cash, all under false pretenses related to their timeshare properties.

FBI warns that Mexican cartels are targeting Americans with timeshare scams

The Motley Fool

Low inflation numbers should ultimately benefit retirees.

The 2025 Social Security Cost-of-Living Adjustment (COLA) Forecast Just Changed, and It Could Pleasantly Surprise Many Retirees

Pennsylvania State

Butler, PA

Law enforcement sources at the scene tell CNN a shooter was positioned on a building rooftop just outside the venue where former President Donald Trump was holding his rally in Butler, Pennsylvania.

Video appears to show suspected Trump shooter on a roof

Friends and neighbors are remembering firefighter Corey Comperatore -– the man shot and killed during the attempted assassination of former President Donald Trump – as a family man who served his community and was quick to help friends in need.

Man killed at Trump rally identified as firefighter Corey Comperatore, who ‘died a hero’

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

New York City, NY

Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

Republican representative and former sniper Cory Mills identifies security failures at former President Donald Trump’s rally in Butler, Pennsylvania that led to Saturday evening’s shooting.

GOP lawmaker who used to be sniper says security failure led to shooting

CNN Political Commentator Bakari Sellers looks at whether the tone of political rhetoric in America will change. 

Bakari Sellers: ‘the attempted assassination shook the core of our country’

FinanceBuzz

These methods aren't get-rich-quick schemes; they're smart methods to employ.

7 Ways to Become a Millionaire on a Low Salary

As investigators continue to search for a motive behind the attempted assassination, they are scrutinizing Crooks’ actions in the days and hours before the shooting.

A shooting range, a gun store, and a ladder purchase: Tracking the Trump rally gunman’s movements leading up to his attack

Kiplinger

To avoid getting flattened by higher taxes or Medicare premiums related to Roth conversions, make sure you look both ways on your tax rates.

Before Doing a Roth Conversion, Evaluate These Three Thresholds

Bethel Park, PA

Nearly 48 hours after the attempted assassination of former President Donald Trump, investigators are struck by the lack of leads they’re finding about Thomas Matthew Crooks’ mindset and possible motives for his attack.

FBI has accessed Trump rally shooter’s phone but investigators are struck by lack of leads

MSNBC will not air “Morning Joe,” its celebrated politics roundtable program, on Monday, opting to instead air continued breaking news coverage of the attempted assassination of former President Donald Trump.

‘Morning Joe’ pulled from air Monday because of Trump shooting

NewsBreak

IRS collected $1 billion in back taxes from millionaires in less than a year

The Internal Revenue Service said Thursday that it has collected more than $1 billion in past-due taxes from millionaires since last...

IRS collected $1 billion in back taxes from millionaires in less than a year

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