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A view of the Internal Revenue Service (IRS) building in Washington, D.C., U.S., February 16, 2025. Annabelle Gordon | Reuters‘Lack of stability’ amid major tax law changesWhen asked on Tuesday about the agency’s leadership decision, former IRS Commissioner Danny Werfel told CNBC’s “Squawk Box,” “I think right now it’s crunch time at the IRS.”Six individuals have served as IRS Commissioner or acting IRS Commissioner since inauguration day in January, among them President Donald Trump’s nominee Billy Long, who the Senate confirmed in June. Trump removed Long from the role in August and replaced him with Bessent.There is currently no Deputy Commissioner…

The S&P 500 had a record close on Monday and continued to climb during Tuesday morning trading.While headlines that the large-cap index has notched a new high have become the norm, some investors may wonder if a pullback is coming.”The S&P 500 is broken,” said Michael DeMassa, who is a certified financial planner and chartered financial analyst, and the founder of Forza Wealth Management in Sarasota, Florida.Many investors assume investing in the S&P 500 index — through ETF ticker symbols SPY, VOO or IVV — is synonymous with diversification, DeMassa said.Yet that sense of safety is an illusion, he said,…

A year after John Paulson (left) raised $50 million for Donald Trump at a fundraiser at his Palm Beach home, he gained $60 million himself thanks to the government’s investment in Trilogy Metals.Getty Images The federal government’s $35.6 million investment for a 10% stake in a small Vancouver-based mining business produced a windfall for its investors, one of whom Donald Trump is already very familiar with. Billionaire John Paulson owned an 8.7% stake in Trilogy Metals as of the end of June. The stock tripled in after-hours trading Monday night after the deal was announced and opened 245% higher Tuesday,…

Kira Hofmann | Photothek | Getty ImagesWhen saving for retirement, you can often pick between traditional and after-tax Roth contributions — and determining the right choice may be trickier than you expect.Traditional deferrals offer an upfront tax break, but you’ll owe regular income taxes on future withdrawals. The opposite is true for Roth contributions, which happen after taxes, but the balance grows tax-free. Many decide between traditional and Roth contributions by weighing current vs. future tax brackets, but that can be a mistake, according to certified financial planner Cody Garrett, founder of Measure Twice Planners in Houston.”People always talk in marginal…

Bitcoin priceNurPhoto via Getty ImagesBitcoin’s price just hit an all-time high at $124,688, pushing its market cap past $2.47 trillion. As Wall Street debates whether it’s a risk-on or risk-off asset, BlackRock says it’s something else entirely.Before we go any further, let’s get one thing out of the way. Bitcoin is not a currency in the way that the dollar or peso is and it is unlikely to ever become a currency in the way that some advocates imagine it to be, with daily purchases being the global norm. A decentralized means of exchange is a lovely democratic idea, but…

US President Donald Trump signs executive orders relating to higher education institutions, alongside US Secretary of Education Linda McMahon (R), in the Oval Office of the White House in Washington, DC, on April 23, 2025. Saul Loeb | Afp | Getty ImagesThe Trump administration has resumed forgiving student debt for some borrowers enrolled in a program that’s been partially paused since July.Now, borrowers who’ve been in repayment for decades and are eligible for debt cancellation under the Income-Based Repayment plan, or IBR, are getting notices that they will soon receive the relief.The U.S. Department of Education did not respond to…

New Year celebration concept. Front view. Close-upAnna Efetova | Moment | Getty ImagesPresident Donald Trump’s “big beautiful bill” added trillions of dollars of tax breaks, some of which could impact your deduction for charitable giving.U.S. individual giving grew to $392.45 billion in 2024, up by about 5%, including inflation, from the previous year, according to Giving USA’s annual report released in June.But as the calendar winds down, your 2025 year-end giving strategy could look different than that of previous years, financial experts say.More from Personal Finance:With S&P 500 near record highs, reconsider the set-it-and-forget-it strategyWhat the government shutdown means for Social Security…

Strauss/curtis | The Image Bank | Getty ImagesEarly in the fourth quarter is an ideal time to tackle some financial planning tasks that set you up for success for the rest of the year — and into 2026. “It’s absolutely a great time to do that,” said Dan Moisand, a certified financial planner and director at Moisand Fitzgerald Tamayo in Orlando, Florida. The firm is ranked No. 69 on CNBC’s Financial Advisor 100 for 2025.One advantage: You have actual financial data available — such as income from work, interest and dividends, as well as money you’ve spent — rather than working…

Boston, MA – October 1: The Visitor Center at Faneuil Hall is closed on October 1, 2025 due to the ongoing government shutdown. (Photo by David L. Ryan/The Boston Globe via Getty Images)Boston Globe via Getty ImagesAt 12:01 a.m. ET on Oct. 1, the federal government shutdown after Republicans and Democrats failed to reach an agreement on the Continuing Resolution to keep it up and running. One can debate the merits of each party’s argument and which one is to blame, but if you have two people over to your house and they get into a fight, ransack it, and…

Natalia Gdovskaia | Moment | Getty ImagesHealth insurance is at the heart of the government shutdown.Without action from Congress, insurance premiums for people who buy coverage via the Affordable Care Act marketplace are poised to more than double for the average enrollee in 2026, according to research from KFF, a nonpartisan health policy research group.Democrats are demanding that legislation to end the shutdown include an extension of enhanced subsidies, or enhanced premium tax credits, that have made marketplace insurance plans cheaper in recent years for the vast majority of ACA enrollees. Republicans have said they don’t want to include the…