Retirement
What are ways people can reduce their tax bill?
Taxpayers can reduce their tax bill by maximizing contributions to their 401k or other retirement funds before the April 15 deadline, which provides pre-tax benefits for the 2024 tax season. This is a key opportunity that's still available. Additionally, given potential IRS staffing changes mentioned by Trump, including cutting staff or reassigning agents to border duties, it's advisable to file taxes as early as possible. Filing promptly ensures taxpayers receive assistance before any potential reduction in IRS services occurs.
Watch clip answer (00:48m)
CBS News
02:52 - 03:40
What historic change has occurred regarding Social Security payments under Elon Musk's influence?
For the first time since Social Security began in 1940, payments are no longer guaranteed. According to Lawrence O'Donnell, Elon Musk has infiltrated Social Security administration, creating unprecedented uncertainty for 71 million Americans who depend on these benefits monthly. While Social Security checks have never been late or short in the program's 83-year history, Musk's involvement threatens this perfect record. His pattern when taking over federal agencies has been to stop payments, leaving beneficiaries unable to rely on the consistent delivery of their essential income for the first time in American history.
Watch clip answer (00:47m)
MSNBC
00:00 - 00:48