The Trump administration has confirmed plans to restructure and streamline the Internal Revenue Service (IRS) as part of a broader push to reduce government spending and increase efficiency. The plan, which could involve cutting up to 50% of the IRS workforce, is expected to impact tax processing, customer service, and enforcement as the country moves … Read more
California families enrolled in the Family First Economic Support Pilot (FFESP) program can expect their March 2025 stimulus payment of $725 to arrive on March 15, 2025. This initiative, launched in December 2024, provides monthly financial assistance to low-income families in Sacramento County to help cover essential expenses like rent, food, and childcare. With thousands … Read more
The Social Security Administration (SSA) has confirmed that retirees previously affected by the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) will receive their retroactive payments sooner than initially expected. This follows the passage of the Social Security Fairness Act, which repealed both provisions. The expedited payment process will benefit millions of former public … Read more
Millions of Americans may face disruptions in their Social Security benefits due to significant budget cuts at the Social Security Administration (SSA). With staffing levels at their lowest in 50 years, former SSA Commissioner Martin O’Malley has warned of potential system failures that could lead to payment delays within the next 30 days. These concerns … Read more
The Social Security Administration (SSA) has announced a major workforce reduction, cutting 7,000 jobs as part of a broader federal initiative aimed at increasing government efficiency. This move will shrink the SSA’s workforce by over 12%, reducing the number of employees from 57,000 to 50,000. Along with job cuts, the agency plans to consolidate regional … Read more
The IRS has released its final regulations regarding mandatory withdrawals for inherited retirement accounts. These new rules significantly impact how heirs must manage inherited Individual Retirement Accounts (IRAs) and other retirement plans. If you inherit such an account, understanding these changes is crucial to avoid penalties and minimize tax burdens. The New 10-Year Withdrawal Rule … Read more
In a recent interview with podcaster Joe Rogan, billionaire entrepreneur Elon Musk sparked a heated debate by calling Social Security “the biggest Ponzi scheme of all time.” His remarks have drawn mixed reactions, with some agreeing that the system faces long-term financial challenges, while others argue that Musk’s characterization is misleading. Social Security is a … Read more
Billionaire entrepreneur Elon Musk has reignited debates about the sustainability of Social Security, calling it “the biggest Ponzi scheme of all time.” His remarks, made during a recent appearance on The Joe Rogan Experience podcast, have drawn sharp criticism from Democratic leaders, who argue that his characterization misrepresents the program’s structure and could mislead the … Read more
Millions of Social Security beneficiaries will see an increase in their monthly payments in 2026, thanks to a 2.3% Cost-of-Living Adjustment (COLA). This adjustment, though smaller than some previous years, is a sign of moderating inflation and a stable economic environment. The annual COLA increase is crucial for retirees and disabled individuals who rely on … Read more
Social Security plays a vital role in supporting retirees, disabled individuals, and survivors across the United States. In 2025, the average monthly Social Security benefit stands at $1,978.77, but this amount varies significantly depending on where you live. Additionally, changes to Social Security taxes may impact workers’ paychecks, especially for high earners. Here’s a look … Read more