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The Latest Breaking News from IRS

Trump news at a glance: president takes aim at Harvard, threatening tax-exempt status

The IRS is reportedly planning to revoke Harvard’s tax exemption, a move that would cost the university millions – key US politics stories from Thursday 17 April at a glance

The Guardian - US

Trump Threatens Harvard's Tax-Exempt Status

Apparently freezing $2 billion in federal funding wasn't enough.

Reason

Can the IRS revoke Harvard's tax-exempt status?

For years, President Donald Trump has complained that colleges and universities are “indoctrinating” their students with “radical left” ideas and has said they should lose their tax-exempt status

The Independent UK

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Clips of Vance and Cruz saying they’d stop the IRS from political attacks resurface after Trump’s Harvard threat

Democrats attack GOP for hypocrisy over prospect of politicized government as president demands universities and law firm cave to right-wing agenda

The Independent UK

IRS reportedly weighs revoking Harvard’s tax-exempt status

Probably illegal move against US’s richest university is latest in Trump’s attack on independence of higher education

The Guardian - US

How Many IRS Commissioners Have We Gone Through This Year?

Who were the former IRS commissioners, and why did they resign? Find out how IRS turnover can impact your taxes.

Kiplinger

Trump Admin Also Looking To Use Medicare Data To Find Migrants To Deport: Report

The Trump administration is seeking to use a Medicare database to find undocumented immigrants, The Washington Post reported on Thursday

Latin Times

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Trump Admin Plans To Shut Down Free IRS Direct File Tax Program: Report

Launched during President Joe Biden's administration, Direct File had been praised by users for being easy to use, fast, and cost-effective.

International Business Times

Gen X, Boomers, Millennials, or Gen Z: Which Generation Pays the Most Taxes?

Polls show that most people feel like taxes are unfair. But which age group bears the brunt of the tax burden in the United States?

Kiplinger

How the Trump Harvard Tax-Exempt Threat Could Impact You

Trump's latest higher education showdown raises fundamental questions that could reach beyond Harvard's nonprofit tax status.

Kiplinger

A New IRS-ICE Agreement Could Reduce Tax Revenue by $300 Billion Over the Next Decade

That's what could happen if undocumented immigrants decide not to file their taxes, according to an estimate by The Budget Lab at Yale.

Reason

IRS Deal With ICE Could Jeopardize Nearly $100 Billion in Immigrant Tax Revenue

Experts warn the policy shift could trigger mass noncompliance among undocumented taxpayers, leading to severe economic consequences.

Latin Times

Trump Freezes Over $2 Billion in Harvard Funding, Threatens to Revoke University's Tax-Exempt Status

President Donald Trump has set his sights on revoking Harvard University's tax-exempt status, intensifying his battle with the Ivy League giant after halting $2 billion in federal funds.

International Business Times

Tax Day scam warning - experts say scammers are using AI-generated voices to impersonate IRS, tax officials

With Tax Day in full swing across the US, users are being warned about AI-generated IRS scams.

TechRadar

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The Independent UK

Tax Day 2025: Residents in these states see the biggest returns from the IRS

The states include Florida, Texas, Wyoming, Oregon, Maine, and Wisconsin

Barchart

Is Palantir Stock a Buy on High-Profile Plan to Help Elon Musk and DOGE Overhaul the IRS?

Down 24% from all-time highs, Palantir is a tech stock that trades at a lofty multiple in April 2025. Is PLTR stock still a good buy right now?

The Independent UK

How DOGE is combing through housing and other data to find migrants for Trump’s deportation plans

Data that DOGE staffers may access include where potential undocumented immigrants may live and work

The Independent UK

Getting the IRS on the phone is more difficult this tax filing season, experts say

Taxpayers calling the IRS for help processing their taxes this filing season may find it harder than normal to get someone on the phone

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The Conversation

401(k) plans and stock market volatility: What you need to know

With stock market charts resembling the contours of a roller-coaster ride in recent days, many Americans could be forgiven for eyeing their 401(k)s with a little concern.

Latin Times

Immigration Judge Recommends People To Not Share Their Address When Reporting Taxes Amid Fear of Deportations

Undocumented immigrants paid $96.7 billion in federal, state, and local taxes in 2022, per the Institute on Taxation and Economic Police

Fortune

Gen Z is reviving this boring job that millennials and boomers abandoned—and it’s helping them land six-figure careers straight out of college

About 75% of accountants are expected to retire in the next decade, and some Gen Zers are realizing that the field is not so boring after all—especially considering it can bring job security and six-figure salaries.

Fortune

The White House moves to cancel thousands of immigrants' Social Security numbers using a 'death master file,' NYT reports

The migrants, who arrived here legally, would cease to exist in the U.S.'s financial system.

The Independent UK

What we know about the Social Security Administration listing thousands of living immigrants as dead

The Trump administration’s move to classify thousands of living immigrants as dead and cancel their Social Security numbers is an escalation of the president’s crackdown on people who were legally allowed to live in the U.S. under programs instituted by his predecessor

Fortune

Top economist Larry Summers is highly concerned U.S. Treasuries were trading 'like those of an emerging market nation'

In a wide ranging interview with Fortune, the former Treasury Secretary also says we're already seeing the first signals of a possible recession.

Kiplinger

Ask the Editor: Reader Questions, April 11 — IRAs, RMDs and PTPs.

Ask the Editor: Taxes, April 11, 2025 — Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on Roth IRAs, RMDs and other retirement accounts.

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