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The U.S. Treasury is now paying 7.12% annual interest on I bonds, a nearly risk-free investment, for the next six months. Here’s what to know before buying.
Collections, Sooner or Later IRS Commissioner Rettig: Up to $1 trillion in taxes are uncollected annually. In testimony before the Senate Finance Committee yesterday, IRS Commissioner Charles Rettig said reasons for the gap between taxes owed and paid every year include unreported income from virtual currency transactions, foreign-sources, and illegal activities. At the same hearing, Sen. Rob Portman said he is drafting a bill to sort out the tax treatment of virtual currencies. Still aiming for periodic child tax credit payments by July. Rettig also told the panel that the IRS still plans to...