Must Read Money Stories for Wednesday, April 8

by April 8, 2015

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The tax man hang upeth. The Washington Post documents long lines, dropped phone calls and employees struggling to keep pace at the IRS. Tax season is in full swing, but with heavy budget cuts at the IRS, people aren’t getting the kind of service they used to get. The agency also has fewer workers to go after tax cheats, which could cost an estimated $2 billion in uncollected revenue this year, according to the Post.

At the Summit. McClatchy looks ahead to later this week when President Obama will be traveling to the Summit of the Americas. Two big things are different about this summit. One, Cuba is participating. And two, we now know what the President’s Secret Service staff was up to during the last Summit of the Americas.   

Water, water, nowhere. Does it seem to you like every day there’s a new, major story about the California drought? There kind of is. The latest comes from the details of how to fulfill the new mandate from Gov. Jerry Brown to cut water usage in cities by 25 percent. Turns out, not every city will be affected equally. Some will have to cut as much as 35 percent, while others only 10 percent, according to the Los Angeles Times. Meanwhile, SFGate reported on a “rare” rainstorm in northern California on Tuesday that was so unexpected, it caused a bunch of car crashes. Welp.

Here we go again. Home prices in the U.S. are back on an upward march, and the Denver Post reports prices are going up fastest in the Rocky Mountain state. South Carolina and Michigan ranked second and third, respectively, according to the Post. In six states, average home prices are actually above where they were before the crash.


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