Posts made in February 2026

Tax Tip | Owe the IRS Money? Here’s How to Pay

If you owe federal taxes, you may be required to pay by the April deadline. Remember, if you get an extension to file your taxes, payment is still due by the April deadline. You can set up a payment plan if you can’t pay the full amount you owe now.
Here are some choices for making your payment:

Use Direct Pay: Internal Revenue Service (IRS) Direct Pay is a free and secure way to pay directly from your checking or savings account.
Pay by Debit or Credit Card: If you don’t want to link a bank account, you can use your credit or debit card. Remember that you’ll have to pay a processing fee and may incur interest charges.
Pay When You E-File: If you file your federal tax return electronically, you can pay directly from your bank account using Electronic Funds Withdrawal.

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov⁸

Footnotes And Sources

^{8. IRS.gov, May 29, 2025}

Weekly Market Insights | Supreme Court Rules Against White House Tariffs

Stocks ended a choppy four-session run in the green, with tech-led momentum earlier in the week prevailing over news of a slowing economy, sticky inflation, and geopolitical tensions.

The Standard & Poor’s 500 Index advanced 1.07 percent, while the Nasdaq Composite Index rallied 1.51 percent. The Dow Jones Industrial Average inched up 0.25 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 0.75 percent.^1,2

Focus on Tech

Stocks kicked off the shortened trading week with a yawn as continuing investor angst over AI disruption in the software industry kept gains modest.³

But tech-led market momentum picked up—including gains from lesser-known names—as investors digested minutes from the Fed’s January meeting.⁴

Stocks then came under pressure as investors fretted over geopolitical tensions in the Middle East and concerns about private credit in the financial sector.⁵

Markets rallied on Friday after the Supreme Court struck down the White House tariffs. The news overshadowed a sticky inflation report and a disappointing update on Q4 gross domestic product (GDP), which was hurt by federal spending during the government shutdown.⁶

Friday Focus

All week, the markets were eyeing the Friday economic updates and were a bit surprised at the timing of the tariff news.

GDP rose 1.4 percent in Q4, lower than the 2.5 percent expected and slower than the 4.4 percent pace in Q3. The slowdown reflected declines in federal and consumer spending.⁷

While the Supreme Court’s ruling on tariffs had been expected, the news still took investors by surprise when it arrived on Friday. The decision was widely expected, but the timing of the news was uncertain. Investors appeared to welcome the news, as companies may have greater pricing flexibility without tariffs.

Footnotes And Sources

^{1. WSJ.com, February 20, 2026}
^{2. Investing.com, February 20, 2026}
^{3. CNBC.com, February 17, 2026}
^{4. CNBC.com, February 17, 2026}
^{5. CNBC.com, February 19, 2026}
^{6. WSJ.com, February 20, 2026}
^{7. WSJ.com, February 20, 2026}

Tax Tip | Know and Understand Your Correct Filing Status

Taxpayers should understand their filing status well and at least be familiar with the other choices.

When preparing and filing a tax return, the filing status affects:

If the taxpayer is required to file a federal tax return
Their standard deduction amount
If they can claim certain credits
The amount of tax they should pay

Here are the five filing statuses:

Single: This status is normally for taxpayers who are unmarried, divorced, or legally separated under a divorce or separate maintenance decree governed by state law.

Married filing jointly: If a taxpayer is married, they can file a joint tax return with their spouse. When a spouse passes away, the widowed spouse can usually file a joint return for that year.

Married filing separately: Married couples can choose to file separate tax returns in certain circumstances.

Head of household: Unmarried taxpayers may be able to file using this status, but special rules apply.

Qualifying widow(er) with dependent child: This status may apply to a taxpayer if their spouse died during one of the previous two years and they have a dependent child. Other conditions also apply.

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov⁹

Footnotes And Sources

^{9. IRS.gov, July 8, 2025}

Weekly Market Insights | Kevin Warsh Nominated to Fed Chair

Stocks were mixed last week as investors navigated Q4 corporate results, a widely expected Fed decision, and a handful of economic reports.

The Standard & Poor’s 500 Index rose 0.34 percent, while the Nasdaq Composite Index edged down 0.17 percent. The Dow Jones Industrial Average declined 0.42 percent. By contrast, the MSCI EAFE Index, which tracks developed overseas stock markets, rose 1.22 percent.^1,2

S&P 500 Touches 7,000

The S&P 500 and Nasdaq advanced early in the week as investors looked ahead to the Fed meeting and corporate results from several large companies.^3,4

On Wednesday, the Federal Reserve decided to keep interest rates steady, as widely expected. Market reaction was muted, with all three major averages little changed by the close. Disappointing earnings results from one megacap tech firm, announced after the market closed on Wednesday, unsettled investors and dragged the Nasdaq down on Thursday.^5,6

Stocks opened lower Friday, after the White House nominated Fed veteran Kevin Warsh as the next Fed chair. A warmer-than-expected December wholesale inflation report and concerns about a government shutdown added to bearish investor sentiment as the week wrapped up.⁷

The Fed Holds Steady

The Fed funds rate was held at its current 3.5 percent to 3.75 percent target range at its January meeting. The decision followed three consecutive meetings at which the Fed cut rates; it marked the first time the Fed held rates steady since July. The next Fed meeting is in mid-March.⁸

At the post-meeting press conference, Fed Chair Powell did not answer any questions regarding the Justice Department’s investigation. The January 19, 2026, issue of Weekly Market Insights misstated the status of the investigation concerning the Fed Chair by referring to it as an indictment. We regret any confusion.

Footnotes And Sources

^{1. WSJ.com, January 30, 2026}
^{2. Investing.com, January 30, 2026}
^{3. CNBC.com, January 26, 2026}
^{4. CNBC.com, January 27, 2026}
^{5. CNBC.com, January 28, 2026}
^{6. WSJ.com, January 29, 2026}
^{7. CNBC.com, January 30, 2026}
^{8. WSJ.com, January 28, 2026}