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The Latest Breaking News from IRS

Tax-exempt crackdown measure passes despite Democrat defections - Roll Call

Democratic support evaporated for a bill to give the IRS greater authority to revoke tax-exempt status of nonprofits supporting terrorist organizations.

Roll Call

5 FAQs About 529 College Savings Plans

Thanks to recent policy changes, families have more options for what to do with money sitting in tax-advantaged 529 accounts.

Kiplinger

How to Apply for Social Security Online or In Person at Any Age

There are two ways to apply for Social Security retirement benefits. When you apply for benefits has no impact on how you file to claim your benefits.

Kiplinger

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Viral posts claim stimulus checks are on the way. Here’s what you should know

False rumor comes after exit polls revealed the economy was the biggest issue to almost one third of voters

The Independent UK

Look out TurboTax — Trump government efficiency team is reportedly considering a free tax-filing app

A free tax-filing app is under consideration from the proposed Department of Government Efficiency.

TechRadar

Tax Credit vs. Tax Deduction: What’s the Difference?

Your guide to tax deductions and credits, how the IRS treats them differently, and how they impact your tax bill.

Kiplinger

Premium Tax Credit: Are You Eligible For This Health Insurance Tax Break?

The tax credit can help qualifying individuals pay for coverage from the Affordable Care Act’s health insurance marketplace.

Kiplinger

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Retire Before 59½: The IRS Rule to Unlock Your IRA or 401(k) Penalty-Free

This early-retirement hack lets you tap your retirement savings without tax penalties, helping bridge the gap to Social Security. But you must plan well.

Kiplinger

Estate Planning: How Does the Basis Step-Up Rule Work?

The step-up in basis, one of the most powerful tools in estate and tax planning, can make a huge difference in capital gains taxes owed.

Kiplinger

Understanding Virtual Currency: How It Works Across Digital Platforms

Virtual currencies are digital tokens used across many online platforms. According to the IRS, virtual currency is a digital representation of value that serves as a unit of account, a store of value, and a medium of exchange.

inkl

Three Often-Overlooked Ways to Cut Your Tax Bill Now

Act before 2024 ends to set yourself up for potential savings when it's time to file your tax return.

Kiplinger

FSA Contribution Limits Are Higher for 2025

A flexible spending account allows you to build tax-free savings for certain medical expenses.

Kiplinger

Elon Musk Says He's 'The Largest Individual Taxpayer In History' After $10B Payment: 'I Thought The IRS Would Send A Trophy'

The average true tax rate for the ultra-rich, including Elon Musk, is much lower than those less affluent as they leverage a host of tax-savings strategies to reduce their reported annual income despite skyrocketing net-worth growth

International Business Times UK

‘Partisan politics’: how efforts to overturn the Johnson amendment could upend campaign finance

Experts say undoing the provision, which bans churches from campaign donations, would open a flow of dark money

The Guardian - US

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Reason

Abolish the IRS—and the Income Tax Too

Americans spent an estimated $133 billion and 6.5 billion hours filing their tax returns in 2024.

Kiplinger

New Rules for Retirement Savings Taking Effect in 2025

Many employees will be able to contribute more money to tax-advantaged workplace plans.

Kiplinger

Florida Tax Deadline Extension for 2025: What You Need to Know

If you live in Florida the IRS has extended your federal income tax deadlines.

Kiplinger

IRS: Here’s How to Recover Your Tax Records After a Natural Disaster

Your tax documents can help you get federal relief faster, the IRS says.

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Kiplinger

Tax Changes are on Trump's 2025 To-Do List

Donald Trump campaigned on lower taxes and, as president, he will push Congress to pass big tax changes next year

Top News

Nanny Pleads Guilty In Suburban Virginia Double Homicide Case

A nanny in Virginia pleads guilty to manslaughter in a shocking double homicide case involving her employer and another man. Tragic events unfold in the Ba...

Kiplinger

12 Retirement Moves to Make Before the Year Ends

From applying for Social Security and donating to charity to maximizing your savings accounts, here are 12 retirement moves you can still make in 2025

International Business Times UK

Why Did Federal Agents Raid Alfie Oakes' Naples Estate? Everything You Need to Know

Federal agents have launched a high-profile raid on conservative influencer Alfie Oakes, raising questions about his financial troubles and the future of his $400 million empire.

Latin Times

IRS bows to James Comer and Jim Jordan's Demands to Halt Disciplinary Measures Against Hunter Biden Whistleblower

" We won't stop fighting for these brave whistleblowers, who exposed misconduct and politicization in the federal criminal investigation," said the House Oversight Committee

Kiplinger

IRS Updates Capital Gains Tax Thresholds for 2025

For the 2025 tax year, the IRS has increased the capital gains tax income thresholds. Here's what you need to know.

Kiplinger

Earned Income Tax Credit (EITC) 2025 and 2026: How Much Will You Get?

The refundable amount for workers with or without children is slightly higher this year. Here’s what you need to know.

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