In all, the federal government paid $260.9 billion in refunds to taxpayers, compared to $265.3 billion in 2018. Tax returns are in the public eye as filers and accountants grapple with the Tax Cuts and Jobs Act, the 2018 overhaul of the tax code.
First-quarter gross domestic product expanded by 3.2%, the Bureau of Economic Analysis said Friday in its initial read of the economy for that period. Economists polled by Dow Jones expected growth of 2.5%. It was the first time since 2015 that first-quarter GDP topped 3%.
Bitcoin plunged as much as 5% after a major cryptocurrency was accused of pulling $700 million from the reserves backing its digital coin to cover up $850 million in missing funds.
Millennials expect to start, on average, their first job at age 25 and to start saving for retirement at age 36.