Searchable News & Info From Reliable Online Sources.
- Missed the April 15 tax deadline? Here’s what experts say you should do
If you missed the April 15 tax deadline, penalties and interest have already begun to accrue – but there are still actions you can take to limit the impact.Experts say taxpayers should file immediately, even if they can’t pay their full bill, and pay as much as they can to avoid the steepest penalties. Those who still owe can apply for a payment plan to manage the remaining balance.The IRS says most applicants receive immediate approval or denial when applying for a payment plan online.TAX EXTENSION FILERS BEWARE: PAYMENTS ARE STILL DUE TO THE IRS BY APRIL 15"You can still file your return and at least eliminate the failure-to-file penalty, which can reach up to 25% of any tax owed, with interest compounding," said Mark Steber, chief tax officer at Jackson Hewitt Tax Services.The IRS can impose multiple penalties, including failure-to-file, failure-to-pay and underpayment penalties, which are assessed separately and can accrue interest daily, Steber said.He added that consulting a tax professional early can help taxpayers navigate their options and potentially reduce the total cost.NEW TRUMP ACCOUNTS PITCHED AS TAX-SEASON GATEWAY TO BUILDING WEALTH"In many cases, the total cost – including taxes, penalties, interest and professional fees – ends up being higher than if you had sought help earlier," Steber said."The worst thing you can do is ignore the deadline," he added. "Many people think they’ll deal with it later, but that can lead to mounting penalties and unnecessary financial risk."THE SIMPLE TAX HABIT THAT COULD SAVE YOU THOUSANDS OVER YOUR LIFETIMEFiling as soon as possible and exploring IRS payment options can help taxpayers regain control of their situation and minimize added costs.GET FOX BUSINESS ON THE GO BY CLICKING HERESteber said taxpayers should view filing as part of a long-term financial strategy, not just a once-a-year obligation."Your tax return is one of your largest financial transactions each year," he said. "Giving it proper attention can pay dividends over time." [TheTopNews] Read More.17 mins ago - Corporate Profits Are at Record Highs. These 4 Factors Could Sink Them.
Experts have different theories about what’s driving steep gains. But many agree the window for growth is shrinking. [TheTopNews] Read More.1 hour ago - ‘It’s just scale’: Local mom-and-pop car dealerships are growi...
Multibillion-dollar dealerships have been on the rise amid a decadeslong consolidation that has led to a grow-or-die mentality for many U.S. auto retailers. [TheTopNews] Read More.1 hour ago - Teen investor boom: Why Wall Street is chasing youngest generations earlier than...Major brokerages are increasingly targeting younger investors, opening the door for teenagers to begin building portfolios years before they traditionally would.ProCap Financial chief market strategist Phil Rosen joined FOX Business’ Stuart Varney on "Varney & Co." to discuss the shift, framing it as part of a broader industry push to capture the next generation of clients amid changing demographics.Firms like Charles Schwab and Fidelity have long catered to older investors, but the rise of mobile-first platforms such as Robinhood, which counts a large share of millennial and Gen Z users, has intensified competition. Rosen pointed to that dynamic as a key driver behind the push into teen accounts, as legacy firms look to establish relationships earlier in investors’ life cycles."I'm very much in the camp that the younger you are to get into investing that's a good thing, right, because that could be millions of millions of dollars difference by the time you retire if you start at 15 as opposed to 25," Rosen said.FINANCIAL INFLUENCER ARGUES 'MONEY IS MORE MENTAL THAN IT IS MATHEMATICAL' IN NEW APPROACH TO PERSONAL FINANCEThe trend reflects a broader cultural shift toward financial literacy and early investing, with more young people gaining exposure to markets through apps and social media. At the same time, Rosen cautioned that education remains critical as younger investors navigate increasingly complex and volatile markets."If we can get them to avoid those things, then I think it's [a] good thing to get people involved in the markets," Rosen said, warning against speculative trading behavior like meme stocks and short-term options.As competition heats up, brokerages appear willing to rethink traditional entry points in an effort to secure long-term growth.GET FOX BUSINESS ON THE GO BY CLICKING HERE [TheTopNews] Read More.2 hours ago
- Reopening Strait of Hormuz Would Ease Oil Crisis but Only So MuchAnalysts said energy and shipping companies would be reluctant to fully restore operations until they were confident that hostilities were over. [TheTopNews] Read More.4 hours ago
- More Americans Taking 401(k) Hardship WithdrawalsMore Americans are taking hardship withdrawals from workplace retirement accounts, prompted by rising costs — and looser rules. [TheTopNews] Read More.4 hours ago
The Searchable USWebDaily.com and TheTopNews NewsBank Helps You Be Better Informed, Faster! Spread The Word.
