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The Latest Breaking News from IRS

How to Donate Your Life Insurance Policy to Charity

Donating an unneeded life insurance policy to charity can extend your charitable legacy. To maximize that gift, consider methods that may reduce your tax burden.

Kiplinger

U.S. lawmakers turn up the heat over Nigeria's unlawful detention of Binance exec

U.S. lawmakers visited former IRS Special Agent Tigran Gambaryan in the Nigerian prison where he has suffered malaria and pneumonia.

Fortune

'Vast Majority' of Pandemic Employee Retention Credit Claims Are Likely Scams, Says IRS

Just the latest development in the continuing saga of COVID stimulus fraud.

Reason

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Nigeria Denies Claims Of Poor Quality Healthcare For Binance Executive Gambaryan

Nigeria has denied claims that jailed Binance compliance chief Tigran Gambaryan wasn't provided access to quality healthcare after two U.S. representatives visited the former IRS agent in a Nigerian prison.

International Business Times

Landlord With Rental Income? See if You Qualify for a 20% Tax Break

Many landlords are eligible to take the 20% tax deduction for qualified business income

Kiplinger

IRS Finds Majority Of Employee Retention Credit Claims Improper

IRS review finds majority of Employee Retention Credit claims at risk of being improper due to fraud, with billions expected to be denied.

Top News

Treasury, IRS To 'Close Major Tax Loophole' To Bring $50 Billion In Government Coffers

The plan will focus on "related party basis shifting," which is typically used by related parties to increase deductions on assets or reduce future gains, thereby lowering the tax liability of the entities involved.

International Business Times

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The Independent UK

The IRS wants to end another major tax loophole for the wealthy and raise $50 billion in the process

The Internal Revenue Service plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade

Kiplinger

11 Ways to Grow Your Wealth

By setting up a solid investment strategy, creating a budget, boosting your income, and making other smart moves, you can design a blueprint to reach your goals.

Kiplinger

IRA vs Roth vs 401(k): Which Do You Pick?

All offer great tax breaks as you save for retirement. In addition, there are 403(b), SEP and SIMPLE plans and more. But don't worry. It’s hard to go wrong.

Kiplinger

Five Summer Activities That Can Change Your Taxes for 2025

Certain summertime activities might help lower your taxable income.

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Roll Call

Trump plan to eliminate tip tax garners Capitol Hill interest - Roll Call

Former President Donald Trump again trotted out his desire to eliminate federal taxes on income from tips.

Kiplinger

SEP IRA vs. Solo 401(k): Which Is Better?

Two retirement plans, the solo 401(k) and SEP IRAs, allow small business owners and the self-employed to save up to $69,000 annually.

Kiplinger

HSA Contribution Limit Rising Again for 2025

Contribution limits matter when it comes to maximizing your tax-advantaged health savings account.

Reason

Trump Wants To Exempt Tips From Income Taxes. Why Stop There?

Reducing revenue without identifying offsetting spending cuts means Trump is merely promising to borrow more heavily.

Kiplinger

How to Roll Over a 401(k) in Five Steps

Here's how to roll over a 401(k) to a traditional IRA, Roth IRA or even to a Roth 401(k).

Salon

IRS audit could cost Trump over $100M

IRS probe concluded that Trump effectively claimed the same massive write-off twice on his failed Chicago tower

Kiplinger

Do You Fear an IRS Audit? You Shouldn't if You Do Your Homework

If you document everything, there’s no reason to freak out if the IRS audits you. Audits are mostly about seeking documentation, not making accusations.

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