Student Loan Crisis Busts Retirement Savings

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California’s Congressional delegation, the largest and most influential in the nation, is undergoing a major upheaval, the result of reapportionment and retirements, threatening the state’s influence in Washington next year and forcing members to scramble to withstand what is emerging as a generational wave. A quarter of the state’s 53-member delegation to Washington could be newcomers in the … Read More

IRS Plan Will Let Some Unemployed Taxpayers Avoid Penalties

Taxpayers who have been unemployed for at least 30 days in 2011 or 2012 will be able to avoid some penalties for failing to pay their taxes, the Internal Revenue Service said. Those struggling taxpayers would have an extra six months to comply and avoid the failure-to-pay penalty. They would still owe interest on back taxes, the IRS said today. “This new approach makes sense for taxpayers … Read More