Each year, the Internal Revenue Service takes a moment to remind active duty military personnel that the “IRS Free File” offers them multiple choices for free federal tax preparation.
This information is not a substitute for individualized tax advice. Please consult with a qualified tax professional to discuss your specific tax issues.
Tip adapted from IRS.gov8
8. military.com, January 26, 2025
Stocks advanced last week as investors moved past stalled progress in Middle East peace talks and refocused on corporate earnings.
The Standard & Poor’s 500 Index rose 0.91 percent, while the Nasdaq Composite Index climbed 1.12 percent. The Dow Jones Industrial Average moved up 0.55 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, added 0.58 percent.1,2
Markets were under pressure early in the week as investors focused on stalled peace talks and rising oil prices.3
But midweek, momentum shifted. First, the Fed announced it was holding interest rates steady, as expected, but there was some dissent over the decision. Then investors’ attention focused on Wednesday’s closing bell, when several big-name companies reported Q1 results.4
Investors mostly liked what they heard, and stock prices rose, ending April on a high note. The Dow led the broad market rally while the S&P 500 and Nasdaq each logged their best monthly performances in 5 years.5
Stocks rose again on Friday as oil prices fell. Investors applauded Q1 results from another high-profile megacap tech company, which helped the S&P notch another all-time intraday high.6
The Federal Reserve voted 8-4 to keep interest rates steady at the April meeting, leaving the Federal Funds Rate at a 3.5 to 3.75 percent target range. Market observers were quick to point out that the 8-4 decision was the Federal Open Market Committee’s most divided vote since 1992.7
At the last FOMC press conference of his eight-year tenure, Fed Chair Powell announced he would stay on as a Fed governor after his term as Chair expires on May 15. Earlier that day, the Senate Banking Committee confirmed Kevin Warsh as the next Fed Chair, setting up a final confirmation vote in the Senate.7
1. WSJ.com, May 1, 2026
2. Investing.com, May 1, 2026
3. CNBC.com, April 28, 2026
4. WSJ.com, April 29, 2026
5. CNBC.com, April 30, 2026
6. CNBC.com, May 1, 2026
7. WSJ.com, April 29, 2026
Are you expecting a little extra cash from a sale? The IRS would like to know. Individuals, corporations, and partnerships engaged in a trade or business must report cash transactions of more than $10,000.
These cash payments can include jewelry sales, an overseas purchase, or any other cash transaction. You also need to report cash payments received in one lump sum, in two or more related payments within 24 hours, or as part of a single transaction or two or more transactions in the last year.
File Form 8300, titled Report of Cash Payments Over $10,000 Received in a Trade or Business. This form requires information about the benefactor and the recipient of the cash, a description of the transaction, and information about any other parties involved.
This information is not a substitute for individualized tax advice. Please consult with a qualified tax professional to discuss your specific tax issues.
9. IRS.gov, January 17, 2025
Stocks were mixed last week as investors gauged potential outcomes of the Middle East conflict amid an ongoing ceasefire.
The Standard & Poor’s 500 Index rose 0.55 percent, while the Nasdaq Composite Index advanced 1.50 percent. By contrast, the Dow Jones Industrial Average fell 0.44 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, declined 2.75 percent.1,2
Stocks began the week lower after tensions in the Middle East escalated over the weekend. They remained under pressure through Tuesday’s close as Wednesday’s expiration of the ceasefire loomed.3
Markets opened higher on Wednesday as investors cheered a ceasefire extension, while solid Q1 corporate earnings results boosted market momentum. Oil prices rose above $100/barrel, and all three major stock averages closed higher, with the S&P 500 and Nasdaq logging new all-time highs.4
The S&P and Nasdaq recovered from a slump in software stocks, while higher oil prices put stocks under pressure, logging fresh intraday highs along the way. Investors appeared increasingly desensitized to the Middle East conflict.5,6
1. WSJ.com, April 17, 2026
2. Investing.com, April 24, 2026
3. CNBC.com, April 21, 2026
4. CNBC.com, April 22, 2026
5. CNBC.com, April 23, 2026
6. WSJ.com, April 24, 2026
Natural disasters, such as hurricanes, earthquakes, or wildfires, can occur at any time, so preparing before disaster strikes is essential. Here are a few tips to help you prepare in case anything happens:
These tips may help you have everything you need ready in the case of a natural disaster or other emergency.
This information is not a substitute for individualized tax advice. Please consult with a qualified tax professional to discuss your specific tax issues.
Tip adapted from IRS.gov8
8. IRS.gov, September 25, 2025
Stocks rallied last week as investor enthusiasm built for an end to the war in the Middle East and hopes of a resumption of normal global trade.
The Standard & Poor’s 500 Index rose 4.54 percent, while the Nasdaq Composite Index picked up 6.84 percent. The Dow Jones Industrial Average advanced 3.19 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, increased 2.15 percent.1,2
Stocks continued to ride the hopeful sentiment of a ceasefire at the start of last week, with all three averages advancing. The S&P 500 has recouped all its losses since the start of the war.3
Momentum accelerated through midweek as investors shifted from “risk-off” to “risk-on.” The White House signaled that the war was “very close to over” amid reports that further talks were under discussion.
At Wednesday’s close, the S&P advanced for the 10th time out of the last 11 trading sessions, while the Nasdaq marked its 11th straight close in the green.4
Stocks pushed higher again on Thursday, with the Nasdaq recording its longest winning streak since 2009. The week wrapped on a high note after Iran’s foreign minister announced the Strait of Hormuz was “completely open” as negotiations continue. Oil prices dropped by roughly 10 percent on Friday, sparking another solid day on Wall Street.5,6
Last week was one for record-breaking. By midweek, the S&P 500 and Nasdaq hit all-time highs. The S&P broke 7,000 for the first time, while the Nasdaq topped 24,000 for the first time.
The shift from “risk-off” to “risk-on” pushed the S&P over the 7,100 threshold for the first time on Friday. And the Nasdaq ended the week on a 13-day win streak, the longest positive streak since 1992. The Dow Industrials closed at 49,447.43, just below its all-time high set in early February 2026.7
1. WSJ.com, April 17, 2026
2. Investing.com, April 17, 2026
3. CNBC.com, April 13, 2026
4. CNBC.com, April 15, 2026
5. CNBC.com, April 16, 2026
6. WSJ.com, April 17, 2026
7. CNBC.com, April 15, 2026
Stocks ended a challenging week lower as investors’ attention shifted from updates on ceasefire talks to concerns about the economic impact of a protracted conflict.
The Standard & Poor’s 500 Index lost 2.12 percent, while the Nasdaq Composite Index fell 3.23 percent. The Dow Jones Industrial Average slid 0.90 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, ended the week flat (-0.05 percent).1,2
Stocks opened higher to start the week as fresh optimism for a resolution to the Middle East conflict permeated market sentiment, and no further news on Iraq’s force majeure declaration appeared to help momentum. Both the Dow Industrials and S&P 500 booked their best day since early February as the White House reported “very good and productive conversations” to end hostilities.3
Markets were under pressure on Tuesday but staged a recovery rally midweek amid reports that Pakistan was mediating ceasefire talks. All three major averages posted solid gains, though it appeared that retail investors remained on the sidelines.4
The upbeat sentiment was short-lived. Markets were under steady pressure Thursday despite news after the close of trading that the White House was extending the previous pause on military strikes on Iranian energy infrastructure by an additional 10 days. The selling picked up on Friday. The Nasdaq and Dow Industrials fell into correction territory, while the S&P suffered its longest weekly losing streak in almost four years.5
1. WSJ.com, March 27, 2026
2. Investing.com, March 27, 2026
3. CNBC.com, March 16, 2026
4. CNBC.com, March 24, 2026
5. WSJ.com, March 27, 2026
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:
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
8. IRS.gov, May 29, 2025
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
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
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.
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
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:
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
9. IRS.gov, July 8, 2025
