If you can't pay your taxes in full by April 15th, you should still file your return and pay what you can. The IRS offers payment plans that allow you to spread out the payments over time, reducing the late-payment penalty by half. These plans can be applied for online, by phone, or by mail, and can take up to 180 days for short-term plans and up to 72 months for long-term plans.
President Biden's new student loan relief plan aims to assist millions of borrowers facing excessive interest rates, with potential benefits for up to 25 million people. The plan includes "canceling runaway interest" on federal student loans, reducing or eliminating accrued interest for low- and middle-income borrowers enrolled in income-driven repayment plans. This provision is intended to lighten the financial burden and allow borrowers to pay off their loans more easily.
Germany's housebuilding industry faces challenges, with declining economic indicators and dropping orders. Experts suggest that an earlier-than-anticipated decrease in interest rates could provide a boost. However, officials caution that discussions about rate cuts may be premature. The current situation has impacted the German economy, leading to a downgrade in growth expectations.
Struggling New York Community Bancorp (NYCB) has obtained $1 billion in funding from investors including former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital. As part of the deal, Mnuchin and others will join the bank's board amid financial struggles and declining share value. The capital infusion and leadership changes are intended to stabilize the bank and prevent the fate of collapsed regional banks.
