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Social Security on track to run out of money for full payouts by 2034, report finds – CBS News Watch CBS News Social Security could run out of funds to fully pay out benefits to millions of people in less than 10 years. CBS News MoneyWatch associate managing editor Aimee Picchi has the details. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Senate Republicans are crafting provisions to provide funding for struggling rural hospitals in order to resolve an impasse on Medicaid changes that is one issue holding up passage of President Donald Trump’s tax-cut bill. Senate Majority Leader John Thune told reporters on Wednesday he is working with members of his party on a solution that would ensure financially vulnerable rural hospitals aren’t threatened by the legislation’s cuts to the Medicaid health program for low-income and disabled Americans. Lawmakers are looking to create a special fund that rural hospitals could tap to blunt the effect of the legislation’s Medicaid reductions, Senator Bill Cassidy…

Bloomberg via Getty Images Looking for “greater tax certainty” for large business and international taxpayers, the Internal Revenue Service has improved its Pre-Filing Agreement program.The PFA program allows taxpayers under the Large Business and International Division jurisdiction to resolve potential tax issues before filing their return. Enhancements include:A landing page with program statistics, a streamlined process overview and navigation to dispute prevention resources.Step-by-step instructions to submit a PFA request, including response time expectations and post-submission next steps.A Pre-Filing Agreement Likely Suitable Issues and Documentation page for taxpayers to identify if a PFA request is appropriate for their situation.Updated guidelines to…

Mercer Island, a wealthy enclave just outside Seattle.Danita Delimont | Gallo Images Roots Rf Collection | Getty ImagesA version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The United States is home to the most millionaires of any country, with a tally of 23.8 million in 2024, according to a new report by UBS. The Swiss bank estimated the U.S. minted some 379,000 new millionaires last year, or more than a thousand each day, for an increase of 1.5%.Mainland…