The anomalous magnetic moment of the muon is one of the most celebrated tests of the Standard Model (SM). I will discuss some recent developments in the long-standing discrepancy between experiment and the SM prediction of the muon g-2, and argue that the electron g-2 may be used to probe new physics as well. I will also discuss possible methods to improve the present limits on the g-2 of the tau lepton using radiative leptonic tau decays. I will conclude discussing the puzzling 3.5 sigma discrepancy which has recently been observed between the SM prediction of the branching ratio $\tau to e \bar{\nu} \nu \gamma)$ and its measurement at BaBar.