Author: Press Room
The Treasury Inspector General for Tax Administration—or TIGTA—has released its audit of the IRS’s 2022 Filing Season. The purpose of the review was to evaluate “whether the IRS timely and accurately processed individual paper and electronically filed tax returns during the 2022 Filing Season.” It will surprise no one to hear that TIGTA concluded that it was a challenging tax season, and there’s still work to be done. Returns & Backlog The IRS opened tax season and began processing 2021 individual tax returns on January 24, 2022. By the end of the filing season, as of May 6, 2022, the…
Grand Cayman is a resort mecca with white sand beaches, scuba diving, snorkeling and deep-sea fishing. The largest of the Cayman Islands, it boasts fine dining, a stress-free environment and picture-perfect weather. A draw for real estate investors and expats: The entire British Overseas Territory is a tax haven with no property, income, capital gains or payroll taxes. An estate home now on the market at US $9.5 million is a standout example of the luxury residences near Grand Cayman’s sought-after Seven Mile Beach area with its stunning swath of coral sand. “The home is located in the ultra-exclusive community…
Following a highly volatile housing market in 2022, some experts have said they believe home prices could fall through 2023 before seeing sustained growth in the following years. Home prices are expected to decline by 1.6% through this year, according to a panel of economists and housing experts polled for the Zillow Home Price Expectation (ZHPE) survey. “The majority of experts are now predicting an outright decline in U.S. home prices in 2023,” Pulsenomics founder Terry Loebs said in a statement. However, the panel also projected that home prices could bump back up at an average rate of 3.5% per year…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. A student loan cash-out refinance allows you to use the equity in your home to pay off your student loan debt. Essentially, you combine your student loans and mortgage into a new loan. This helps you get rid of your student loans and potentially lock in a lower interest rate on…
It may take more than roses for romance to flourish this Valentine’s Day – many couples want to talk about their finances, too, a recent survey said. Thirty-one percent of respondents said that they mentioned personal finances on the first date or within the first few dates, according to consumer financial app Cleo’s dating and money survey. Among more established relationships, 73% of couples said they discussed their finances at least once a week and 17% said they discussed finances at least once a month. Millennials are most likely to discuss finances with their partner regularly, the survey said. By contrast, Generation…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. When you make a financial plan, it might be challenging to figure out what to tackle first. Should you save for retirement, build an emergency savings account or pay off your debts? While all three of these financial goals are important, paying off credit card debt can jumpstart the rest of…
While 81% of middle-income survey respondents said they expected a recession this year, 62% said they are planning to or have already taken measures to face these challenging economic times, according to a recent survey. For many that has meant taking control of their debt, Primerica’s fourth quarter 2022 Middle-Income Financial Security Monitor said. Thirty-nine percent of respondents said their top goal for this year was to pay off debt and 37% said they wanted to keep debt manageable.Despite concerns over inflation and a pending recession, 53% of respondents said they felt optimistic about their finances heading into 2023. Only 15%…
Europe trips were a historically good deal in 2022When the U.S. dollar strengthens relative to other currencies, it means Americans can buy more abroad. Their dollar stretches further. The euro hit parity with the U.S. dollar in July — the first time Americans enjoyed a 1:1 exchange rate with the euro since 2002.Not all European countries use the euro — it’s the official currency for 20 out of 27 European Union members.By the end of September, Americans could buy one euro with just 96 cents. But the U.S. dollar has lost about 14% of its value against the euro since…
This story is part of CNBC’s “Transmission Troubles” series, an inside look at why the aging electrical grid in the U.S. is struggling to keep up, how it’s being improved and why it’s so vital to fighting climate change.Wind and solar power generators wait in yearslong bureaucratic lines to connect to the power grid, only to be faced with fees they can’t afford, forcing them to scramble for more money or pull out of projects completely.This application process, called the interconnection queue, is delaying the distribution of clean power and hampering the U.S. in reaching its climate goals.The interconnection queue…
Homebuyers benefited from another week of falling mortgage rates, with the average rate dropping for the fourth week in a row, according to data from Freddie Mac released Thursday. The 30-year fixed-rate mortgage averaged 6.28% in the week ending April 6, down from 6.32% the week before. A year ago, the 30-year fixed-rate was 4.72%. “Mortgage rates continue to trend down entering the traditional spring homebuying season,” said Sam Khater, Freddie Mac’s chief economist. “Unfortunately, those in the market to buy are facing a number of challenges, not the least of which is the low inventory of homes for sale,…
