Do you use PayPal or Venmo? The IRS is giving you a break.
Tax agency also said it will boost the reporting threshold to $5,000, from $600, in 2024 as it phases in the new regulation.
Tax Reform
Here's how Republicans' proposed Fair Tax Act would work
The GOP plan would set a national sales tax of 30% and eliminate the IRS.
Liz Truss resigning as U.K. prime minister
Truss faced a fast-mounting rebellion just weeks into her tenure, with a senior member of her own party declaring he'd "had enough of talentless people."
U.K. wonders if embattled leader Liz Truss can even outlast a lettuce
The prime minister's 6-week tenure has been defined by self-inflicted chaos, but with her party divided, it's unclear where Britain goes from here.
Liz Truss walks back tax cuts amid recession fears
Experts say public confidence in United Kingdom Prime Minister Liz Truss is steadily falling after she reversed course on her proposed tax reforms. Ian Lee has the latest.
U.K. leader sacks finance chief amid economic turmoil over tax cuts
The "mini-budget" rolled out by the duo caused the pound to plummet in value, interest rates to soar, and sparked chaos in financial markets.
House to vote on Inflation Reduction Act
House Democrats are expected to pass a sweeping spending package Friday. The Inflation Reduction Act aims to lower health care costs, combat climate change and raise taxes for some large corporations. CBS News congressional correspondent Nikole Killion joined Anne-Marie Green and Vladimir Duthiers to discuss the vote and the upcoming midterm elections.
MoneyWatch: How to navigate Tax Day
April 18 is the deadline for most Americans to file their tax returns. Rebecca Walser, president of Walser Wealth Management, shares tips for navigating filing this year, including advice for those who received a child tax credit or dabbled in the stock market.
How would Biden's "Billionaire Minimum Income Tax" work?
The plan would affect almost 30,000 American families with assets of more than $100 million. Here's what you should know.
IRS aims to resolve massive backlog by end of year
Millions of people are waiting for the IRS to process returns from past tax filing seasons — and send their refunds.
These states may soon slash their residents' income taxes
States are cutting taxes amid booming revenue. "You can't have your cake and eat it too, but we kind of are this year," one governor said.
Biden wants IRS to help fund social spending
The Biden administration is proposing the Internal Revenue Service help fund the president's expansive social programs package by tracking down $7 trillion in unpaid taxes. CBS News MoneyWatch reporter Irina Ivanova explains to CBSN's Tanya Rivero why not everyone is happy about the proposal.
How wealthiest Americans pay little in taxes
Nonprofit investigative journalism organization ProPublica obtained never-before-seen IRS information and found the 25 richest Americans sometimes paid little or no federal income taxes. That includes Warren Buffett, Elon Musk, Michael Bloomberg and Jeff Bezos, the richest person in America. CBS News correspondent Elise Preston reports on reaction to the report, and Robert McClelland, a senior fellow with the Tax Policy Center, joined CBSN to discuss.
Tax rules for claiming dependents
At tax time, claiming a child or dependent can save you a lot of money - but it's not always straightforward. CBSN spoke with New Gen Financial's Alicia Jegede to break down the do's and don'ts.
Representative Peter King not seeking reelection
Fourteen-term New York Republican Representative Peter King won't seek reelection. The 75-year-old joins a growing number of Republicans and a handful of Democrats who plan to leave after next year. CBSN New York's Carolyn Gusoff reports.
IRS budget cuts benefit rich, report finds
The IRS is deteriorating after eight years of budget cuts, according to a ProPublica investigation, which found the agency's decline benefits the wealthy while hurting the poor. Paul Kiel co-authored the report, "How the IRS Was Gutted." He joins CBSN to discuss his reporting.
Tax changes make this savings account even more valuable
Tax changes give eligible people with disabilities several ways to put additional money into these special accounts
Battle for Arizona Senate seat
One the key races in the battle for control of the Seante is in Arizona, where Democrat Kyrsten Sinema is running against Republican Martha McSally. Voters are focused on key national issues like tax reform and health care. "CBS Evening News" anchor Jeff Glor reports.
FBI launches Kavanaugh investigation
The FBI has began investigating sexual assault allegations against Judge Brett Kavanaugh. Also within the past week, the House of Representatives has passed a tax bill and Sen. Elizabeth Warren said she will consider running for president in 2020. Kevin Cirilli, chief Washington correspondent for Bloomberg, joins CBSN's Elaine Quijano to discuss the latest headlines in politics.
Major Garrett on "Mr. Trump's Wild Ride"
CBS News chief White House correspondent Major Garrett joins Elaine Quijano on CBSN's "Red and Blue" to discuss his new book, "Mr. Trump's Wild Ride," which documents the first year of the Trump administration.
House Republicans unveil "tax reform 2.0" bills
The bills aim to make individual and small business tax cuts permanent ahead of November's midterm elections
Millions of taxpayers could wind up owing for 2018
Changes to the tax code that are now in effect might snare up to 4.5 million Americans at tax time next April
U.S. charitable giving tops $400 billion for first time
Last year's record total boosted nearly every kind of philanthropy, but trouble could be looming
California primaries
Voters in California are selecting general election nominees in key races across the state, including for governor and several important congressional races. Seema Mehta, political writer for the Los Angeles Times, joins CBSN to break down the primary elections.
Tax reform is squeezing charitable giving
With a higher bar to deduct donations, the numbers of both new donors and total donors fell in 2018's first quarter
Latest News
Israel expands ground offensive to southern Gaza
Israel's military says it has expanded its ground operations to every part of Gaza in pursuit of Hamas.
U.S. warship, commercial ships face attacks in Red Sea, officials say
U.S. officials said drones and missiles were fired at 3 commercial vessels in the Red Sea on Sunday.
Alaska Airlines reaches deal to buy Hawaiian Airlines
Alaska Airlines has reached a deal to buy Hawaiian Airlines, the companies announced Sunday. The airlines said the move will unlock more travel destinations for flyers.
Supreme Court to review Purdue Pharma bankruptcy that shields Sackler family
Purdue Pharma, the maker of OxyContin, filed for Chapter 11 bankruptcy protection in September 2019 after it faced scores of lawsuits related to the opioid crisis.
Liz Cheney on why she believes Trump's reelection would mean the end of our republic
In her new book, "Oath and Honor," the former GOP Congresswoman warns of the threats to the Constitution posed by Donald Trump, and calls blocking Trump and preventing a Republican House majority from rejecting election results "the cause of our time."
Tech giants compete to build 1st reliable, general-purpose quantum computer
Companies and countries are in a race to develop quantum computers. The machines could revolutionize problem solving in medicine, physics, chemistry and engineering.
U.S. assisting Israel to find intelligence "gaps," Turner says
Israel dismissed warnings leading up to the terrorist attack, Rep. Mike Turner, the chair of the House Intelligence Committee, said.
At least 4 killed in stabbing at burning home in Queens
Neighbors in Far Rockaway said they heard screaming following by gunshots. Moments later, the block was surrounded by first responders.
"Barbie" filmmaker Greta Gerwig on pressure of making blockbuster
Directing "Barbie" was a dream job for Greta Gerwig, the Oscar-nominated filmmaker behind "Little Women" and "Lady Bird." Now she's putting her own stamp on two "Chronicles of Narnia" movies.
U.S.
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Biden hosts Kennedy Center honorees at White House
This year's Kennedy Center honorees are Billy Crystal, Renée Fleming, Barry Gibb, Queen Latifah, and Dionne Warwick.
Atmospheric rivers forecast for Pacific Northwest next week
The National Weather Service on Saturday issued a flood watch for most of southwest Washington and northwest Oregon that will remain in place until Wednesday afternoon.
Israel expands ground offensive to southern Gaza
Israel's military says it has expanded its ground operations to every part of Gaza in pursuit of Hamas.
Alaska Airlines reaches deal to buy Hawaiian Airlines
Alaska Airlines has reached a deal to buy Hawaiian Airlines, the companies announced Sunday. The airlines said the move will unlock more travel destinations for flyers.
Full transcript of "Face the Nation," Dec. 3, 2023
On this "Face the Nation" broadcast, National Security Council spokesperson John Kirby and House Intelligence Committee chair Rep. Mike Turner join Margaret Brennan.
MoneyWatch
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Auto industry eyes subscription fees as multi-billion-dollar revenue stream
General Motors projects subscription fees to bring in as much as $25 billion a year by 2030.
Walmart says it has stopped advertising on Elon Musk's X platform
Retail giant joins other big advertisers that are distancing themselves from X following Musk's support for an antisemitic post.
2023 was brutal for homebuyers. Here's what to expect in 2024.
Mortgage rates recently hit their highest levels in more than two decades, pricing many out of the market. Here's what to expect in 2024.
Here's what to know about the deadly cantaloupe salmonella outbreak
Cantaloupes contaminated with the bacteria have been linked to more than 100 illnesses and two deaths, health officials said.
Some retailers are telling customers to just keep unwanted goods
Ordered something online you want to return? Some retailers say, "Keep it," and they'll still give you your money back.
Politics
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Biden hosts Kennedy Center honorees at White House
This year's Kennedy Center honorees are Billy Crystal, Renée Fleming, Barry Gibb, Queen Latifah, and Dionne Warwick.
U.S. assisting Israel to find intelligence "gaps," Turner says
Israel dismissed warnings leading up to the terrorist attack, Rep. Mike Turner, the chair of the House Intelligence Committee, said.
Full transcript of "Face the Nation," Dec. 3, 2023
On this "Face the Nation" broadcast, National Security Council spokesperson John Kirby and House Intelligence Committee chair Rep. Mike Turner join Margaret Brennan.
Transcript: Dr. Scott Gottlieb on "Face the Nation," Dec. 3, 2023
The following is a transcript of an interview with Dr. Scott Gottlieb, former FDA commissioner, that aired on Dec. 3, 2023.
Transcript: John Kirby on "Face the Nation," Dec. 3, 2023
The following is a transcript of an interview with National Security Council spokesperson John Kirby that aired on Dec. 3, 2023.
HealthWatch
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HealthWatch
Gottlieb: likely a "typical winter pathogen season" ahead
Former FDA commissioner Dr. Scott Gottlieb tells "Face the Nation" that the U.S. is looking at a "more typical winter pathogen season" despite a cluster of unusual pneumonia in Ohio. Gottlieb says the CDC has looked into the cluster and found "it's a known bacteria that is epidemic every three to five years so we've seen epidemics of this in the past."
Eliminating the stigma surrounding suicide
On average, a staggering 132 Americans kill themselves every single day. Experts say addressing this major public health crisis requires ending the shame that can be attached to talking about mental health struggles, which prevents those suffering from finding help.
Eliminating the stigma surrounding suicide
On average, a staggering 132 Americans kill themselves every single day, with every demographic at risk of suicidal ideation. Correspondent Susan Spencer talks with experts about this major public health crisis and the need to eliminate the shame that can be attached to mental health struggles, which prevents those suffering from finding the help that could save their lives. Spencer also talks with a professor who undertook about 10 suicide attempts, from as young as age six, but who - after defying the stigma by writing about it - today believes he will never do so again. [If you or someone you know is in emotional distress or a suicidal crisis, you can reach the 988 Suicide & Crisis Lifeline by calling or texting 988. You can also chat with the 988 Suicide & Crisis Lifeline at 988lifeline.org/chat/]
COVID-19 increasing again, especially in Midwest, Mid-Atlantic, CDC says
Cases of other respiratory illnesses, including flu and RSV, are also on the rise.
Pneumonia cases in U.S. kids not linked to China outbreak, experts say
What to know about the pneumonia cases affecting children in the U.S., as well as expert advice on how to protect kids from respiratory illnesses.
World
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U.S. warship, commercial ships face attacks in Red Sea, officials say
U.S. officials said drones and missiles were fired at 3 commercial vessels in the Red Sea on Sunday.
Israel expands ground offensive to southern Gaza
Israel's military says it has expanded its ground operations to every part of Gaza in pursuit of Hamas.
U.S. assisting Israel to find intelligence "gaps," Turner says
Israel dismissed warnings leading up to the terrorist attack, Rep. Mike Turner, the chair of the House Intelligence Committee, said.
Russian cargo ship docks at International Space Station
A guidance system problem during final approach prompted two space station cosmonauts to take over by remote control.
Several killed in bombing during Catholic mass in Philippines
The blast took place during a regular service in a university gymnasium in Marawi, the country's largest Muslim city.
Entertainment
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Rush's Geddy Lee and Alex Lifeson on the band's next chapter
With Neil Peart they became Canada's most legendary rock group. Lifeson and Lee (author of a new memoir, "My Effin' Life") talk about their particular blend of musicianship; how tragedy upended the band; and what might constitute Rush's next chapter.
What's next for Rush?
The progressive rock group Rush, formed decades ago in the Toronto suburbs by guitarist Alex Lifeson, bass player Geddy Lee and drummer Neil Peart, became Canada's most legendary rock band ever, with more than 40 million albums sold. Lifeson and Lee (author of a new memoir, "My Effin' Life") talk with correspondent Jim Axelrod about their particular blend of musicianship, stagecraft and goofiness; how tragedy upended the band with the death of Peart; and what might constitute Rush's next chapter.
"Archie," the man who played Cary Grant
Born in England, Archibald Leach grew up impoverished and neglected before finding his way to the U.S. and transforming himself into the debonair movie star. The BritBox series "Archie" explores the actor's complicated, hidden past.
Cary Grant: The man we thought we knew
Cary Grant was considered one of the world's best-known movie stars, but it turns out there was plenty that audiences did not know about the debonair actor. In fact, he was born in England as Archibald Leach, and grew up impoverished and neglected, before finding his way to the U.S. and transforming into the silver screen star we know as Cary Grant. The BritBox series "Archie" explores the actor's complicated past. Correspondent Seth Doane talks with actor Jason Isaacs, who plays Grant, as well as Grant's fourth wife, actress Dyan Cannon, who is a producer of the series.
Taraji P. Henson on the message of "The Color Purple"
In the musical adaptation of "The Color Purple," Taraji P. Henson plays Shug, a fearless woman who breaks the rules while helping other women see how strong they can be. You could say the Oscar-nominated actress does that with every role she takes on.
Technology
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Technology
Automakers turn to subscription fees
Automakers, including General Motors, Ford and BMW, are charging drivers subscription fees to use certain state-of-the-art features, such as remote locking and hands-free cruise control. Carter Evans has details.
Amazon unveils new AI chatbot for companies
Amazon has introduced a new chatbot powered by artificial intelligence, called Amazon Q. The AI assistant is focused on assisting businesses, not consumers. Jason Hinder, editor-in-chief for ZDNET, joined CBS News to discuss the new chatbot.
Sports Illustrated, AI and the future of news
What happens when a legacy media outlet turns to artificial intelligence? Seth Lewis, professor and director of journalism at the University of Oregon, joins CBS News to dig into the recent reporting about Sports Illustrated and AI — and what it reveals about the future of news.
Cyberattack on hospital chain causes chaos
A major ransomware attack affected 30 hospitals and more than 200 health care sites across six states. CBS News homeland security and justice reporter Nicole Sganga looks at what happened to some patients.
Elon Musk says advertiser boycott at X could "kill the company"
The billionaire owner of X took a defensive tone, saying that "the whole world will know that those advertisers killed the company."
Science
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Science
Fossil fuel debate takes center stage at COP28
Phasing out fossil fuels has been a heated debate at the U.N. Climate Change Conference, known as COP28, in Dubai, and many climate activists fear the process has been compromised by being held in the oil rich United Arab Emirates. The Biden administration has touted record levels of federal funding for clean energy projects, but the U.S. is also producing record amounts of crude oil. Ben Tracy reports.
U.S. commits to promote sustainable farming
The U.S. will participate in the United Arab Emirates' declaration to promote sustainable agriculture, Secretary of State Antony Blinken announced at the COP28 climate summit in Dubai. CBS News national correspondent Dave Malkoff joins to unpack the overarching goals of the conference.
Nature conservation and the climate crisis
The Wildlife Conservation Society believes preserving nature can help solve the problems associated with climate change. Monica Medina, president and CEO of the Wildlife Conservation Society, joined CBS News to talk about her organization's goals at the COP28 climate summit in Dubai.
Breaking down day one of COP28 in Dubai
The United Nations Climate Change Conference, known as COP28, kicked off Thursday in Dubai, and delegates already agreed to a major deal. CBS News senior national and environmental correspondent Ben Tracy has more.
COP28 climate summit draws controversy
World leaders working to combat climate change kicked off the annual COP28 climate summit Thursday by adopting a loss and damage fund for natural disasters. CBS News senior national and environmental correspondent Ben Tracy has more.
Crime
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5 dead after stabbing at burning home in Queens
Investigators believe the suspect started a fire inside the house before he tried to leave and was shot by police.
Heidi Firkus' fatal shooting captured on her 911 call to report an intruder
Heidi Firkus called 911 to report a burglar breaking into her home. Her husband later told police his gun fired while he struggled with the intruder, but something in Nick Firkus' story struck police as odd.
L.A. suspect in murders of 3 homeless men in custody
A man identified as a suspect in the killings of three Los Angeles homeless men as they slept this week was already in custody in connection with another murder that occurred in nearby San Dimas, police said Saturday.
Las Vegas police search for lone suspect in homeless shootings
The shootings came on the same day Los Angeles officials announced they believed a serial killer was responsible for the killings of three homeless men in their city.
Who killed Heidi Firkus? Her husband Nick says he didn't do it.
For over a decade, investigators worked to piece together the 2010 murder of Heidi Firkus, who, according to her husband Nick Firkus, was shot and killed in a burglary at the couple's Saint Paul, Minnesota, home.
Space
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Russian cargo ship docks at International Space Station
A guidance system problem during final approach prompted two space station cosmonauts to take over by remote control.
NASA "unlikely" to launch Artemis moon landing flight in 2025, GAO says
NASA is facing challenges with SpaceX's moon lander and the new Axiom spacesuits for moonwalkers.
New solar system with rare, perfectly in-sync planets found in Milky Way
Astronomers have discovered six planets orbiting a bright, nearby star in perfect synchrony like a grand cosmic orchestra.
Scientists discover "in-sync" solar system
Scientists have discovered a six-planet solar system in the Milky Way that astronomers say has been untouched by outside forces since its birth billions of years ago. The six planets orbit a star "perfectly" in sync. Derrick Pitts, chief astronomer at the Franklin Institute, joined CBS News to talk about the discovery.
Mars' landscape captured in newly released images
NASA revealed multiple new panoramic images of clouds and dust in Mars' skies, as well as one of its tiny two moons, taken last May.
Latest Galleries
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Matthew Trussler murder: Inside the case
Matthew Trussler was found dead at the home he shared with his fiancée Melissa Turner. See the evidence that led to authorities piecing together his death.
Catching a killer clown
Marlene Warren answered the door to her Wellington, FL, home and was fatally gunned down by a mysterious clown. Despite eyewitnesses, circumstantial evidence, and the identification a suspect early on, it would take more than 30 years for her killer to face justice.
Notable Deaths in 2023
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Becky Bliefnick texted about fear of her estranged husband
The Illinois mom wrote, "If something ever happens to me, please make sure the number one person of interest is Tim." Take a look at the evidence that led to Tim Bliefnick's arrest.
The crime scene evidence that convicted Alex Murdaugh
Inside South Carolina's "trial of the century" — how investigators built their case
Latest Videos
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Latest Videos
Historian Evan Thomas on Justice Sandra Day O'Connor
The author of the biography "First," about the first female U.S. Supreme Court Justice, remembers the impact that Sandra Day O'Connor had during her 24 years on the High Court, from casting the decisive swing votes in 330 cases, to her role in maintaining civility among her fellow justices.
Will the expulsion of George Santos cool the vitriol in Congress?
This past year, the House of Representatives has been one of boiling tensions, from floor fights over the office of House Speaker, to threatened government shutdowns – and now, the booting of New York Republican George Santos, only the third Congressman since the Civil War to be expelled from Congress. But will his expulsion cool tempers among those that remain? CBS News correspondent Scott MacFarlane takes the temperature of the People's House.
Robot gives aquarium tour for hospitalized kids
At Tampa's Florida Aquarium, an innovative robot is giving chronically ill children the chance to tour the aquarium without having to leave the hospital. Mark Strassmann reports.
Law school offering course focused on Taylor Swift
The University of Miami School of Law is offering a course focused on pop superstar Taylor Swift. The course covers her efforts to regain copyright control of her music as well as the times she has been sued for alleged intellectual property theft. Cristian Benavides has the story.
New Notre Dame spire being installed
After nearly being destroyed in a fire over four years ago, Notre Dame's new spire is being installed after the original collapsed in the 2019 blaze. Elaine Cobbe reports.