IRS could soon increase audits. Should taxpayers be worried?
Inflation Reduction Act's $80 billion in IRS funding would come as the risk of getting audited is at a decade-long low.
MoneyWatch
Latest News
New tax credits for EVs look generous — but they're complicated
While many EVs qualify for tax credits under inflation bill, no cars sold today likely would get the full $7,500 rebate.
Social Security recipients could see $1,900 boost next year
Consumer prices are cooling but remain near 40-year highs, leading experts to predict a big benefits bump in January.
Gas prices drop below $4 a gallon for first time since early March
Declining oil prices and somewhat lower demand for gas since motorists have been driving a little less have combined to give Americans some relief at the pump.
How much does missing student loan payments hurt your credit?
Millions of people with college debt have seen their credit scores rise during a freeze on federal student loans.
Suit accuses Alaska Airlines of yanking passengers over texts
Abobakkr Dirar and Mohamed Elamin were forced off a plane because a passenger complained about text messages, suit says.
USPS will hike prices for holiday shipping — starting in October
Some customers could pay as much as $6.45 in additional costs for mailing packages during the holiday season.
Don't bank on selling your small biz to fund your retirement
"You're putting all of your eggs in one basket. Not just your current lifestyle, but your future," one expert says.
Inflation bill could be "game-changing" for millions of U.S. seniors
Experts say the bill would help many older Americans with high drug costs save thousands of dollars per year.
Managing Your Money
More
How much mortgage can you afford based on your salary, income and assets?
Before you can even start searching for a new home, you first need to zero in on your homebuying budget.
What is a Roth IRA, and how does it work?
Whether you're considering opening a Roth IRA or if you're already using one, it never hurts to understand how it can affect your overall retirement plans.
Your most frequently asked credit card questions, answered
Despite their popularity, credit cards can be confusing. We answer your most frequently asked questions to help you understand how credit cards work and maximize their value.
Money Tech
New tax credits for EVs look generous — but they're complicated
While many EVs qualify for tax credits under inflation bill, no cars sold today likely would get the full $7,500 rebate.
Online prices fall for the first time in two years
Drop in online prices, driven by discounts on electronics and apparel, raises hopes inflation may be turning the corner.
Bankrupt company drops plan to rehire ex-CFO at $93K a month
Investors had panned the proposal while pleading for release of frozen funds: "I'm begging you," wrote one 72-year-old woman.
Amazon to buy Roomba vacuum maker iRobot for $1.7 billion
Robotic vacuum cleaner manufacturer will also lay off 10% of its workers as sales slump.
Want to cool off in a swimming pool? There's an app for that
Swimply lets private pool owners rent them by the hour, while helping people beat the heat.
Twitter posts quarterly loss ahead of Elon Musk legal fight
Fight with Musk taking a toll, but social media company sees nearly 17% gain in users from the previous year.
Apple slows hiring as tech industry tightens belt, report says
Other tech industry bellwethers are also trimming jobs as they brace for slower consumer spending.
Once-hot NFTs suddenly are not
Hype around nonfungible tokens is starting to fade, but some buyers say they have no regrets.
Amazon sues Facebook group administrators over fake reviews
Retail giant claims "bad actors" on Facebook are recruiting people to post phony reviews about products sold on Amazon.
Latest News
As U.S. hits 10,000 monkeypox cases, CDC still aims for "containment"
Every state but one has reported at least one infection in the outbreak, which now ranks as the largest in the world.
Gas prices drop below $4 a gallon for first time since early March
Declining oil prices and somewhat lower demand for gas since motorists have been driving a little less have combined to give Americans some relief at the pump.
Model Courtney Clenney arrested on murder charge in Hawaii
The charge stems from the April 3 death of her boyfriend, Christian Toby Obumseli, in Florida, CBS Miami reports.
USPS will hike prices for holiday shipping — starting in October
Some customers could pay as much as $6.45 in additional costs for mailing packages during the holiday season.
Walgreens contributed to San Francisco opioid crisis, judge rules
A federal judge ruled the pharmacy chain over-dispensed them for years without proper oversight and didn't identify and report suspicious orders as required by law.
L.A. sheriff's deputy charged with over 30 counts of sex crimes with kids
Deputy Sean Essex was charged with over 30 counts of sex crimes involving children, with one charge dating back to 2006.
Trump says he took the Fifth in New York fraud investigation
The deposition is part of a wide-ranging probe into Trump's business practices by New York Attorney General Letitia James.
Lawyer says cops, firefighters shared Kobe Bryant crash photos "for a laugh"
Vanessa Bryant's attorney said in his opening statement at her invasion of privacy trial that the cell-phone photos were "visual gossip," and had no official purpose.
Watchdog says DHS lawyers delaying Secret Service Jan. 6 text probe
Sen. Rob Portman wrote to DHS Secretary Alejandro Mayorkas to press him about delays in providing records to Congress.
Small Business
More
Small business faces big challenges: Inflation and 18-hour days
"Would you be comfortable paying $36 for a hamburger? That's kind of what it's worth," says restaurant owner Jenna Petersiel.
For small businesses, looming recession brings uncertainty
But Jessica Johnson-Cope, CEO of a family-owned security services company, remains optimistic even as the U.S. economy darkens.
Want to cool off in a swimming pool? There's an app for that
Swimply lets private pool owners rent them by the hour, while helping people beat the heat.
How to use your car to earn cash without driving for a living
You don't have to work for Uber or Lyft to make money using your car. Instead, just wrap it in ads.
Optimism among small business owners at historic low amid inflation surge
Nationally, 85% of small businesses experienced financial challenges in the last year, according to the Small Business Credit Survey.
Retirement
More
Dems propose raising taxes on high earners to preserve Medicare
Sens. Joe Manchin and Chuck Schumer craft a scaled-back version of the economic package thwarted by Manchin last year.
A common retirement strategy can erode your savings: watchdog
Workers who move 401(k)s into IRAs can lose significant money to a choice they didn't have to make, new analysis shows.
How can you financially prepare for a recession?
"The quicker you move, the more agency you have in reducing the impact of a recession," one expert says.
Stock drop has erased $3 trillion in retirement savings this year
With Americans' nest eggs mostly held in 401(k)s and IRAs, the swoon could force many to delay their retirement.
Social Security bill would give seniors an extra $2,400 a year
Some lawmakers want to revise the retirement program to shore up its funding and boost benefits for its 69 million recipients.
U.S.
More U.S.
YouTube is the most popular social media among teens, followed by TikTok
About 36% admitted they spend too much time on social media and 54% say it would be somewhat hard to give it up.
USPS will hike prices for holiday shipping — starting in October
Some customers could pay as much as $6.45 in additional costs for mailing packages during the holiday season.
Don't bank on selling your small biz to fund your retirement
"You're putting all of your eggs in one basket. Not just your current lifestyle, but your future," one expert says.
After leaving Russia, McDonald's to reopen in Ukraine
Resuming business in Kyiv will help foster a "sense of normalcy" in the war-torn country, a company executive says.
As U.S. hits 10,000 monkeypox cases, CDC still aims for "containment"
Every state but one has reported at least one infection in the outbreak, which now ranks as the largest in the world.
MoneyWatch
More MoneyWatch
USPS will hike prices for holiday shipping — starting in October
Some customers could pay as much as $6.45 in additional costs for mailing packages during the holiday season.
Don't bank on selling your small biz to fund your retirement
"You're putting all of your eggs in one basket. Not just your current lifestyle, but your future," one expert says.
After leaving Russia, McDonald's to reopen in Ukraine
Resuming business in Kyiv will help foster a "sense of normalcy" in the war-torn country, a company executive says.
New tax credits for EVs look generous — but they're complicated
While many EVs qualify for tax credits under inflation bill, no cars sold today likely would get the full $7,500 rebate.
Walgreens contributed to San Francisco opioid crisis, judge rules
A federal judge ruled the pharmacy chain over-dispensed them for years without proper oversight and didn't identify and report suspicious orders as required by law.
Politics
More Politics
New tax credits for EVs look generous — but they're complicated
While many EVs qualify for tax credits under inflation bill, no cars sold today likely would get the full $7,500 rebate.
"I feel it when I'm out and about": Dems energized by recent wins
The Senate last week passed long-awaited climate and health care legislation, which now goes to the House for a vote.
IRS could soon increase audits. Should taxpayers be worried?
Inflation Reduction Act's $80 billion in IRS funding would come as the risk of getting audited is at a decade-long low.
Kia-what? Kia-where? Biden returns to quiet Kiawah Island for vacation
Biden has visited South Carolina's Kiawah Island for years. He can "enjoy a certain amount of insulation without being totally insulated," said Biden political confidant Dick Harpootlian.
DHS watchdog says DHS lawyers delaying Secret Service Jan. 6 text probe
Sen. Rob Portman wrote to DHS Secretary Alejandro Mayorkas to press him about delays in providing records to Congress.
Health
More Health
As U.S. hits 10,000 monkeypox cases, CDC still aims for "containment"
Every state but one has reported at least one infection in the outbreak, which now ranks as the largest in the world.
Nursing homes sue families to collect debt
In partnership with Kaiser Health News and NPR, CBS News takes a look at an alarming trend of nursing homes filing lawsuits against not only residents, but their friends and family to collect unpaid bills. Often the person being sued has no financial ties to the actual resident or legal responsibility for their debt. Anna Werner has more
New animal-derived Langya virus infects 35 in Eastern China
Though the virus has not yet caused any fatalities, it comes from the same family as other deadly viruses.
Experimental treatment changes lives for cancer patients in small trial
An experimental trial for rectal cancer had a 100% resolution rate among its 18 patients.
What you need to know about Medicare Part A's depletion date
Medicare's Hospital Insurance trust fund will run out of money in 2028, trustees say.
World
More World
After leaving Russia, McDonald's to reopen in Ukraine
Resuming business in Kyiv will help foster a "sense of normalcy" in the war-torn country, a company executive says.
Woman arrested for stealing mom's $139M artwork in bizarre con
The elderly woman was "convinced to pay exorbitant amounts for the spiritual treatment of her daughter," police said.
Civilians suffer Russia's retaliation as Ukraine counterstrikes
Almost half a year into Russia's invasion, Ukraine is using Western weapons to hit back hard. Its troops and civilians know the retribution will be merciless.
Woman's appeal rejected in landmark #MeToo case in China
Zhou Xiaoxuan had accused CCTV host Zhu Jun of groping and forcibly kissing her in 2014.
New animal-derived Langya virus infects 35 in Eastern China
Though the virus has not yet caused any fatalities, it comes from the same family as other deadly viruses.
Entertainment
More Entertainment
Entertainment
Meek Mill on transforming the justice system
Rapper and "Reform Alliance" co-chair Meek Mill, along with co-chair Michael Rubin, join “CBS Mornings” to discuss the organization’s work that’s aimed at transforming the criminal justice system. They talk about the new reforms to Florida’s probation system and Reform Alliance’s goal of getting 1 million people out of the probation and parole system.
Marcus Mumford's new music is about his experience of childhood sexual abuse
The Mumford & Sons lead singer opened up in an interview Wednesday about how his trauma has influenced his new work.
Steve Martin says he won't "seek" new TV, movie work: "This is, weirdly, it"
The actor hinted at a possible retirement in an interview published Wednesday.
Longtime ESPN reporter M.A. Voepel comes out as transgender
The network veteran shared in a series of tweets that he is a transgender man and uses he/him pronouns.
Disney tops rival Netflix in number of subscribers
Disney streaming is also hiking fees for its services, with the monthly fee for Disney+ jumping by 38% in December.
Technology
More Technology
Technology
Gadgets and apps to help find lost items
CNET editorial director Dan Ackerman joins "CBS Mornings" to share tracking devices and apps that can help people find lost things. He discusses trackers that can find a parked car or glasses as well as a smart lock to help keep track of keys and even pets.
New tax credits for EVs look generous — but they're complicated
While many EVs qualify for tax credits under inflation bill, no cars sold today likely would get the full $7,500 rebate.
Smart home tech can help save money on energy bills
Programmable thermostats and smart lights can help consumers' lower energy bills.
Snapchat's new features will let parents see who their kids are talking to
The new in-app tool will let parents keep a closer eye on their kids – without letting them read private conversations.
Cool summer energy bills with smart home systems
NerdWallet personal finance expert Sara Rathner explains how to use smart home tech to save on energy costs.
Science
More Science
Landfills are "super emitters" of methane, satellite data finds
The powerful greenhouse gas traps 80 times more heat in the atmosphere than carbon dioxide does.
Study finds spiders likely sleep and dream a lot like people
Researchers in Germany monitored jumping spiders as they snoozed, and saw characteristic traits of REM sleep never observed before in invertebrates.
Evidence of "bone-crushing" dog found at Tennessee fossil site
The university says this is the first evidence of a dog at the site that was a densely forested habitat with plants and tree-dwelling animals.
"Terrifying" study links climate hazards to hundreds of infectious diseases
"There is no speculation here whatsoever," the study's lead author said. "These are things that have already happened."
Due to climate change, Nevada says goodbye to grass
In a state where every drop of water counts, ornamental grass – which accounts for a large percentage of outdoor water use – has been banned in Southern Nevada, just one step being taken to address rising temperatures and shriveling reservoirs.
Crime
More Crime
Alabama double murder trial delayed after too few jurors show up
J.B. Beasley and Tracie Hawlett disappeared on July 31, 1999. Their bodies were found the next day in the trunk of Beasley's car.
Woman arrested for stealing mom's $139M artwork in bizarre con
The elderly woman was "convinced to pay exorbitant amounts for the spiritual treatment of her daughter," police said.
L.A. sheriff's deputy charged with over 30 counts of sex crimes with kids
Deputy Sean Essex was charged with over 30 counts of sex crimes involving children, with one charge dating back to 2006.
Model Courtney Clenney arrested on murder charge in Hawaii
The charge stems from the April 3 death of her boyfriend, Christian Toby Obumseli, in Florida, CBS Miami reports.
Police release new image of missing California teen as search hits roadblock
"People that were there: if you know something, please say something," authorities pleaded Wednesday.
Space
More Space
"Cosmic collision" shows the fate of the Milky Way
"Dueling gravitational forces will trigger bursts of intense stellar formation and wildly distort their once-majestic structures," researchers said.
How to watch tonight's Sturgeon moon – the last supermoon of the year
The Sturgeon moon will be the last supermoon until 2023.
Scientist apologizes after posting image of star that was actually sausage
Etienne Klein apologized for misleading some Twitter followers with his "scientist's joke."
SpaceX launches Korean moon probe
South Korea's first moon mission will search for ice in permanently shadowed polar craters.
Blue Origin launches 6 passengers on sub-orbital trip to space
It was the sixth crewed flight of Blue Origin's New Shepard sub-orbital spacecraft.
Latest Galleries
More Latest Galleries
The Circleville letters: You've got hate mail
An anonymous letter writer terrorizes a small town, threatening to expose their rumored dark secrets.
Timeline: The Jonelle Matthews case
Inside the case against Steven Pankey, a former political candidate who was tried for the kidnapping and murder of a Colorado 12-year-old.
The 50 most expensive colleges in America, ranked
These colleges come with a hefty price tag
Deadliest states for drug overdoses
CDC data reveals which U.S. state has the highest rate of drug overdose-related deaths per 100,000 residents.
The disappearance of Carole Baskin's then-husband Don Lewis
An inside look at the puzzling disappearance of the Florida millionaire
Latest Videos
More Latest Videos
Latest Videos
Food costs hit highest inflation level in 40 years
Despite inflation slowing down in July, food prices are rising to levels not seen in more than 40 years. Yahoo Finance reporter Alexandra Semenova joins "CBS News Mornings" to discuss the latest.
Iranian charged in alleged Bolton murder plot
A member of Iran's elite military corps was charged in an alleged plot to murder former U.S. national security adviser John Bolton. CBS News senior investigative correspondent Catherine Herridge joins Anne-Marie Green and Vladimir Duthiers to discuss the alleged assassination attempt.
Gadgets and apps to help find lost items
CNET editorial director Dan Ackerman joins "CBS Mornings" to share tracking devices and apps that can help people find lost things. He discusses trackers that can find a parked car or glasses as well as a smart lock to help keep track of keys and even pets.
Where to get the latest “CBS Mornings Deals”
Visit cbsdeals.com to receive exclusive deals on summer essentials – including a 10-in-1 jumper cable that could keep your family safe. CBS earns commissions on purchases made through cbsdeals.com.
Old Bay: Behind the popular summer spice
Old Bay has been a pantry staple for more than eight decades – found in everything from Goldfish and ice cream, to beer and vodka. But what most don't know is the incredible story of how Old Bay came to be. Major Garrett reports on how the family behind the beloved spice combinations created it.