GO in the Know: IRS Update, Social Security Statistics & Top Financial News for June 23

GO in the Know 4

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It’s National Hydration Day, so don’t forget to drink up your daily dose of today’s top financial stories.

The Big Lead: IRS Employees ‘Working Tirelessly’ To Process Returns

Despite “working tirelessly” to alleviate its massive backlog of income tax returnsthe Internal Revenue Service’s managing of its overall backlog plight may be worse than it claims.

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Social Security Spotlight: Women Get $354 Per Month Less Than Men

The average Social Security check for women is much smaller than for men. As of May 2022, men received about $1,848 per month on average, USA Today reported. In contrast, the average monthly check for women was only $1,494 per month — a difference of about $354 per month, or $4,248 per year.

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Well That’s Interesting: Biden Cancels More Student Debt

The Biden administration said it will cancel the federal student loan debts of about 200,000 borrowers who claimed to be defrauded by their schools.

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Bonus: 7 Things Every Person With a Retirement Plan Needs To Know About a Bear Market

Here are several tips experts recommend if you are nearing retirement or are already retired.

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ICYMI: Yesterday’s GO in the Know

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