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The Latest Breaking News from IRS

Ask the Tax Editor, May 15: Deductions for Self-Employed Retirees

In this week's Ask the Editor Q&A, Joy Taylor answers questions on available tax breaks for retirees with a side hustle.

Kiplinger

Trump Accused of Betraying Police With Shocking $1B 'Thug Fund' Scheme

Critics accuse Trump of using taxpayer money to fund a controversial $1 billion compensation scheme tied to January 6 defendants, sparking outrage over alleged betrayal of police.

International Business Times UK

Donald Trump ready to drop $10 billion IRS lawsuit? Apparently, it’s in exchange for a deal directly benefitting his most loyal political allies

Jan. 6 defendants are on the list.

We Got This Covered

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read the most diverse news in one place.

TPUSA's Alleged Fundraising Letters Spark Outrage With 'Desperate' Claims of 'Freeing Children From the Far Left'

Turning Point USA faces scrutiny after alleged fundraising letters referencing Charlie Kirk's assassination circulated online, raising questions over the group's financial practices.

International Business Times UK

How a New Fed Chair Could Impact Your Tax Bill in 2026

As Kevin Warsh prepares to lead the Federal Reserve, interest rate policy will shape household earnings and taxable income.

Kiplinger

The New IRS Withholding Quirk Making Some Service-Industry Seniors Think Their Tips Are Tax-Free

Many older Americans are returning to work in restaurants, salons, casinos, hotels, and other service jobs to supplement retirement income. Recently, some of those workers...

Saving Advice

‘This is not feeding the poor’: Nonprofit raises legal alarms by funding bodyguards for conservative influencers

Nonprofit experts said the fund’s donations to for-profit content creators could run afoul of the law

The Independent UK

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Retirement Slip-Ups That Can Land You in Legal Trouble — 5 Habits You Must Avoid

Retirement should feel like freedom, not a courtroom drama mixed with a tax audit and a stack of angry paperwork. Yet thousands of retirees across America accidentally step into legal and financial trouble every year because of small habits that seem harmless at first. One forgotten tax form, one “under-the-table”…

Clever Dude

No Books, Two Golden Statues: Trump's $130 Million Miami 'Presidential Library' Skyscraper Hit With Lawsuit

Donald Trump's planned $130M Miami presidential library skyscraper faces a lawsuit from residents alleging a $10 land deal breach of the US Constitution, questioning its commercial design.

International Business Times UK

Sunscreen, Shades and Meds: 11 Travel Must-Haves That Are Totally HSA Eligible

Traveling but forgot some essentials? Give yourself a "tax discount" on vacation necessities using your health savings account by following these IRS rules.

Kiplinger

North Korean operatives stole $2 billion last year—and financial firms are the next target

A new CrowdStrike report shared exclusively with Fortune reveals DPRK-linked hackers tripled their attack pace in a single quarter and U.S. financial firms are in their crosshairs.

Fortune

Here are the megadonors and dark money groups boosting James Talarico’s anti-billionaire Senate bid

As the Austin Democrat campaigns against big money in politics, he is being supported by a super PAC bankrolled by several billionaires, as well as nonprofits that do not have to disclose their funders.

The Texas Tribune

Trump's Alleged Secret $10 Billion Cash Grab to Halt IRS Audits and Secure Massive Payout Sparks Legal Firestorm

Donald Trump faces allegations of attempting to convert a federal lawsuit into a multibillion-dollar payout, raising questions about collusion and constitutional implications.

International Business Times UK

IRS won't tell you about these COVID refunds, but here's how to claim every dollar you are owed

Nearly 79 million Americans already filed federal tax returns this year. Yet millions may still qualify for hidden IRS COVID refund claims tied to pandemic-era penalties and interest charges. Tax experts now warn that the July 10, 2026 IRS refund deadline could become one of the most overlooked tax relief…

The Economic Times

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The Free Financial Advisor

5 Ways to Avoid Being Reported Under New 1099-DA Crypto Rules

Crypto traders once treated tax season like an annoying side quest, but the IRS just turned the game into the main event. The new 1099-DA reporting rules push crypto exchanges and brokers into much tighter reporting requirements, which means investors can no longer count on confusion or missing paperwork to…

The Free Financial Advisor

How to Inherit an IRA Without Handing Half of It to the Government

Money from an inherited IRA can feel like a financial lifeline right up until the IRS shows up with its hand out. One wrong move can trigger a massive tax bill, force huge withdrawals, or wipe out years of careful retirement planning in a hurry. Families across America lose thousands…

Everybody Loves Your Money

$15,000 Step-Up Gap: Why Missing One Document Triggers Estate Tax Reviews

A missing piece of paper can quietly drain thousands of dollars from an inheritance faster than a Vegas blackjack table on a bad night. Across the country, families settle estates every day without realizing that one forgotten document can create a massive “step-up gap” that instantly grabs the attention of…

Kiplinger

Our New Health Plan Offers an HSA. Is the Triple Tax Benefit Worth the Hassle of Saving Decades of Receipts?

Should we sign up for a Health Savings Account (HSA) and embrace even more healthcare paperwork? We'd rather plan vacations than track receipts.

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The Independent UK

DOJ considers settling Trump’s IRS lawsuit which could send taxpayer money directly to the president’s pockets: report

Trump sued the IRS for $10 billion in January, accusing the agency of failing to prevent a leak of the president’s tax information

The Free Financial Advisor

The IRS Is Sending More “Math Error” Notices—Here’s What They Really Mean

Tax season already brings enough stress without surprise mail from the IRS landing in the mailbox. Lately, more Americans have received something called a “math error notice,” and it often sparks confusion, frustration, and a little bit of panic. These notices do not always signal major trouble, but they do…

The Free Financial Advisor

6 Retirement Planning Errors That Could Cost You Thousands Under New Tax Rules

Retirement planning has never felt more like a moving target than it does right now. New tax rules continue to shift how much retirees keep versus how much goes back to the IRS, and those changes can quietly reshape long-term financial security. Many savers focus on building their nest egg…

The Free Financial Advisor

Refunds Are Being Frozen Over Missing Bank Details—And Some Filers Won’t Get Paid for Weeks

Tax refund season usually brings a wave of anticipation, but this year, a growing number of payments are stalling before they ever hit bank accounts. Financial institutions and federal processors are flagging missing or mismatched banking details, which immediately triggers an automatic hold on refunds. That hold does not disappear…

The Free Financial Advisor

8 Ways Seniors Could Lose Social Security Benefits Without Realizing It

Social Security often feels like one of those steady pillars retirees can count on, showing up month after month like clockwork. But that sense of security can crack fast when small mistakes, life changes, or overlooked rules slip into the picture. Across the United States, seniors run into benefit disruptions…

Kiplinger

The Real Reason 'Tax Me More' Billionaires Don't Just Cut a Check to the IRS

IRS collections are obligations, not donations. Discover how ultra-wealthy households shield fortunes from ordinary rates and how you might, too.

The Free Financial Advisor

7 “Trigger Words” the IRS Uses to Flag Returns Faster

Tax season turns even calm people into nervous wrecks once the word “audit” enters the conversation. The IRS relies on automated systems that scan millions of returns every year, and certain words, phrases, and claims immediately attract extra attention. A return does not need fraud to trigger scrutiny because unusual…

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