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The Latest Breaking News from IRS

Trying To Buy An EV Before The Tax Credit Ends? You Just Got Some Extra Time

The IRS issued clarification on how buyers can take advantage of the EV tax credit without taking delivery of their new car ahead of the September 30th deadline

InsideEVs

What Are the Financial Red Flags That Could Trigger an IRS Audit in Retirement?

Retirement should be a time of peace, not paperwork panic. But for many retirees, an unexpected IRS letter can suddenly turn their golden years stressful....

Saving Advice

Stop Making This IRS Mistake That Could Cost You Big This Summer

Making this common IRS mistake could cost you big this summer—learn how to avoid penalties and protect your money.

GOBankingRates

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read the most diverse news in one place.

6 Elder Scams That Began Over the Phone Earlier This Year

Elder scams that start with a simple phone call are still a major problem in 2024. Fraudsters use new tricks to target older adults, preying on trust and confusion. Many victims don’t realize they’re being scammed until it’s too late. The tactics keep evolving, making it harder for families and…

The Free Financial Advisor

10 Unexpected Tax Filings Required After Financial Gifts

Giving or receiving financial gifts can be a generous act, but it often comes with tax responsibilities that many overlook. The rules around tax filings after financial gifts are more complicated than most expect. If you don’t follow the IRS guidelines, you could face unexpected penalties or paperwork headaches down…

The Free Financial Advisor

How Grandparents Can Help with Education Expenses

Before paying for your grandkids' education, it's important to consider how to help them without risking your own retirement. Here are 10 things to think about.

Kiplinger

Here's How You Can Avail $7,500 Federal EV Credit Even After Trump's September 30 Deadline

Prospective EV buyers in the U.S. can avail the $7,500 Federal Credit, even after the September 30 deadline issued by President Donald Trump, due to some modifications issued by the IRS.

Benzinga

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9 Retirement Gifts That Actually Cause Problems

Retirement gifts are supposed to be thoughtful, memorable, and practical. The problem is that many “classic” retirement presents sound good in theory but end up creating more stress than smiles. Instead of being helpful, they collect dust, cause awkward situations, or even bring unexpected headaches. It’s the kind of well-meaning…

Everybody Loves Your Money

‘Mission critical expertise’: Agency begs its former employees to come back after Donald Trump’s attempt to eliminate it

A lot of backtracking from this administration.

We Got This Covered

Tax Filing 2025: 5 Flattened Brackets That Could Change Your Return

Tax season always brings a mix of anticipation and uncertainty, but 2025 is shaping up to be especially significant. This year, the IRS has introduced five flattened tax brackets, which means the way your income is taxed could look quite different. If you’re used to the old progressive system, these…

Budget and the Bees

7 Deposit Slip Inconsistencies That Cause Tax Trouble

Most people think of deposit slips as routine paperwork, but they play a bigger role during tax season than you might expect. Deposit slips are often the first place the IRS or your accountant looks for clues about your income. If your bank deposit records don’t match what you report,…

The Free Financial Advisor

10 Tax Mistakes That Trigger Letters from the IRS

The IRS letter. Nobody wants one, but plenty of people get them. It’s not always about an audit; sometimes it’s a math error, a missed form, or even a misplaced digit. Still, that thin envelope with the official seal is enough to spike anyone’s blood pressure.

Everybody Loves Your Money

Ask the Editor, August 22: Tax Questions on What Congress Will Do Next

In this week's Ask the Editor Q&A, we answer questions from readers on what Congress will do next with taxes.

Kiplinger

When You Need Capital Quickly, Think 'Ready, Set, Fund': A Financial Adviser's Strategy

Investors must be able to free up cash to meet short-term needs from time to time. This strategy will help you access capital without derailing your long-term goals.

Kiplinger

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Reason

Cancellation of DEI-Related Grants Likely Violates First Amendment, Ninth Circuit Holds

Today's Ninth Circuit decision in Thakur v. Trump (Judge Morgan B. Christen, joined by Judges Richard A. Paez and Roopali… The post Cancellation of DEI-Related Grants Likely Violates First Amendment, Ninth Circuit Holds appeared first on Reason.com.

The Free Financial Advisor

12 Capital-Gains Surprises When You Sell the Family Home After 55

Selling a home later in life often feels like a fresh start, whether you’re downsizing, relocating, or cashing in on years of appreciation. But many homeowners are caught off guard by the financial consequences that come with such a big transaction. The IRS has specific rules, exemptions, and hidden details…

The Free Financial Advisor

5 Ways to Use Qualified Charitable Distributions at 70½ to Cut Your RMD Tax Bill

Turning 70½ brings with it new retirement planning opportunities, especially when it comes to required minimum distributions (RMDs). For many retirees, these withdrawals can significantly increase taxable income, pushing them into higher brackets or raising Medicare costs. Fortunately, qualified charitable distributions at 70½ provide a smart way to give to…

Everybody Loves Your Money

7 Retirement Account Mistakes That Get Flagged by the IRS

So, you’ve been diligently stashing cash into your IRA or 401(k), dreaming of sandy beaches and endless rounds of golf. You’re playing the long game, building that nest egg with discipline and foresight.

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The Free Financial Advisor

7 Ways Digital Advisors Trigger Unexpected Tax Consequences

Digital advisors, also known as robo-advisors, have made investing easier and more accessible than ever. With low fees and automated portfolio management, they seem like the perfect solution for hands-off investors. But behind the convenience, digital advisors can sometimes trigger unexpected tax consequences. If you’re not paying attention, these surprises…

GOBankingRates

Freelanced Too Hard and Got Hit With a Big Tax Bill? How To Handle It, According to a Pro

Millions of Americans are freelancing. The extra income is great, but many gig workers get a rude awakening come tax season. Here's how to avoid that.

The Free Financial Advisor

7 Major Mistakes in DIY Tax Filing

Filing your own taxes can save money and give you more control over your finances. But do-it-yourself, or DIY, tax filing comes with risks that can lead to costly errors. With tax laws changing and forms getting more complex, even small mistakes can trigger audits, missed refunds, or penalties. Understanding…

GOBankingRates

5 Estate Planning Changes To Make After Retirement

Retirement is the perfect time to update your estate plan—here are 5 smart changes retirees should make to protect assets and secure their legacy.

The Free Financial Advisor

8 Financial Moves That Trigger Gift Tax Audits

Gift taxes might sound like something only the ultra-wealthy have to worry about, but the reality is a bit different. The IRS keeps a close eye on large gifts, and certain financial moves can put you on their radar. Ignoring the rules or making mistakes with gift tax reporting could…

Benzinga

IRS Broke Its Own Rules When It Terminated Contracts Of Over 7,000 Employees, Reveals Treasury Watchdog

The Internal Revenue Service violated its own policies when it fired thousands of probationary employees earlier this year at the direction of the Trump administration, the Treasury Department's inspector general said in a report released last week.

Kiplinger

Social Security 2025: The Outdated Tax Rules Costing Retirees Money

Could the Social Security 90th anniversary be a good time to revisit old tax thresholds?

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