The Daily Money: Student loan payments having little impact on the post-covid economy

Good morning, and Happy Boxing Day! It's Daniel de Visé with your Daily Money.

The relaunch of student loan payments this fall was expected to pose a hurdle to an economy facing a sharp slowdown and possibly even a recession next year, Paul Davidson reports.

It isn’t, at least partly because many of the borrowers, who collectively owe $1 trillion, aren’t paying up amid a year-long grace period. Others are taking advantage of the Biden Administration’s income-based payment and loan forgiveness programs.

“It’s posing less of a drag (on the economy) and one small factor helping to avoid recession,” says economist Nancy Vanden Houten of Oxford Economics.

Tax season can be terrifying. Here's everything you need to know

The pause between Christmas and New Year’s is a moment when many of us begin to contemplate the looming labors of tax season.

When is the earliest I can file a return? When is the latest? Have the income brackets changed? What about deductions?

Tax season formally begins in late January. In 2023, the IRS set January 23 as the official start of the season, marking the date the agency began accepting 2022 tax returns.

Here are answers to 12 other common questions that crop up in the weeks before tax season begins.

📰 More stories you shouldn't miss 📰

That new car smell: Next year will be the best year to buy a new vehicle since 2019, economist says

Worried about taxes? It's not too late to cut what you owe the government.

Reports say: Over $1 million in beauty products seized during California raid, woman arrested

Motley Fool: Which retirement account should be your number one focus before the end of 2023?

Honda recalls 2023: Check the full list of models recalled this year

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.