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The Latest Breaking News from IRS

Some Tax Software Submissions Trigger Extra IRS Identity Verification

Tax season feels fast and efficient thanks to modern software, but a growing number of filers hit an unexpected speed bump: extra identity verification requests from the IRS. That sudden pause can delay refunds, create stress, and leave taxpayers wondering what went wrong. The truth sits somewhere between security and…

The Free Financial Advisor

I Asked ChatGPT How High Earners Can Reduce Investment Taxes — Here’s What It Said

ChatGPT revealed legal strategies high earners use to reduce investment taxes, including Roth conversions, tax-loss harvesting and smart account placement.

GOBankingRates

How Much You Lose in Retirement Dollars by Helping Your Kids Buy a House

Helping your kids buy a house can have a significant impact on your retirement dollars because you're not just out the amount you give your kids.

GOBankingRates

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Surprise HMRC Letter Demands Cash Back Within 30 Days Causing Panic

A taxpayer was told to repay a pension tax refund years later, raising concerns about HMRC's power to revisit past payments.

International Business Times UK

How to Respond to an IRS Notice in 30 Days

To handle an IRS notice within a 30-day window, you must immediately verify the "respond by" date on the top right corner of the first page and mail a written explanation or utilize the IRS Document Upload Tool. Waiting even a few days can trigger automated collection actions that are…

inkl

The Saturday Hours Update: Why the IRS Is Keeping Select Offices Open for Extended Filing-Season Help

If you’ve ever tried calling the IRS during tax season, you already know how frustrating it can be. Long hold times, limited weekday hours, and...

Saving Advice

The $4.5 Billion Problem: 5 Documents You Should Never Share With “Federal Agents”

Every year, Americans lose billions of dollars to fraud, and a growing chunk of that comes from scammers pretending to be government officials. These criminals...

Saving Advice

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RMD Penalties Apply When Withdrawals Aren’t Taken on Time—Even If You Forgot

Missing a required minimum distribution doesn’t just create a small paperwork hiccup—it can trigger one of the steepest tax penalties in the retirement world. The IRS expects you to take your required withdrawals on schedule, and it doesn’t accept “I forgot” as a valid excuse.

The Free Financial Advisor

Supreme Court Forces Trump to Return $166 Billion in Tariffs Imposed Without Constitutional Authority

The US Supreme Court ruled Trump-era tariffs unconstitutional, prompting a $166 bn refund process for importers. The decision marks a significant check on presidential authority over trade policies.

International Business Times UK

HMRC Wants Tax Money Back In 30 Days: Should You Repay Or Is It A Mistake?

UK taxpayers face unexpected HMRC demands for tax repayments years after refunds. Understanding the process and knowing how to respond can prevent additional costs or enforcement actions.

International Business Times UK

Scott Bessent's Tax Withholding Hack For Bigger Paychecks Could Backfire — Experts Warn Of Costly Mistakes

US Treasury Secretary Scott Bessent advises Americans to update withholdings for 2026 to receive bigger paychecks, but experts warn against hasty changes, highlighting penalties.

International Business Times UK

7 Things To Consider Before Making Your First Retirement Account Withdrawal

Here are seven considerations to think about before you ever make your first retirement account withdrawal.

GOBankingRates

Americans Are Refusing To Pay Taxes In Protest Over Iran War, Immigration And Spending — Experts Warn Of Fines And Jail

A growing number of Americans are considering refusing to pay federal taxes as a protest against government policies. Experts warn of serious legal consequences, despite the movement's online popularity.

International Business Times UK

What is Asmongold’s net worth? Streamer admits owing $397K to IRS

The Times of India

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Saving Advice

Heirs Face a 25% Penalty in 2026 if They Don’t Take Required IRA Distributions Under the 10‑Year Rule

If you inherited an IRA in the last few years, there’s a good chance you’ve been hearing about the “10-year rule,” but not fully understanding...

Saving Advice

IRS Identity Filters Are Delaying Refunds for Millions — Returns With 2024 Data Mismatches Face 60‑Day Holds

If you’re still waiting on your tax refund in 2026, you’re not alone—and the reason may surprise you. The IRS has ramped up identity verification...

The Free Financial Advisor

Joint Tax Liability Rules Mean Spouses Can Still Owe Shared Tax Debts

Taxes and marriage—two things that can get complicated fast. Many couples assume that once they file jointly, everything is shared neatly and fairly, but the reality can be a bit more surprising. Joint tax liability rules can leave one spouse responsible for debts they didn’t even know existed.

The Free Financial Advisor

3 Tax Filing Mistakes That Can Trigger IRS Penalties

Filing your taxes might not be anyone’s idea of a good time, but messing them up can turn a routine task into a costly headache fast. The IRS isn’t exactly known for letting mistakes slide, especially when they involve missing money, missed deadlines, or questionable claims.

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The Free Financial Advisor

5 Digital Payment Habits That Can Trigger IRS Review

If you’ve ever sent money through an app and thought, “That was easy,” you’re totally right. However, it’s not always invisible. Digital payments have made splitting dinner, paying freelancers, and running side hustles incredibly convenient, but they’ve also made financial activity easier for regulators to track. The IRS isn’t lurking…

Kiplinger

Don't Fear the Next Tax Bracket: This Counterintuitive Move Could Save You (and Your Heirs) Thousands

Tax planning is a year-round effort that uses strategies like Roth conversions to reduce future bills, even if it means moving into a higher bracket temporarily.

International Business Times UK

TPUSA IRS Investigation Claims Debunked as Treasury Confirms No Probe — But $500,000 Trump Access Email Verified

The IRS is reportedly investigating Turning Point USA for alleged tax law violations, following claims of illegal coordination with Donald Trump and a $500,000 contribution requirement.

Saving Advice

The ‘Inherited House’ Audit: Why the IRS Is Scrutinizing 2026 Home Sales Following a Parent’s Passing

Selling a parent’s home after they pass away can feel like the simplest part of a difficult process, but it’s becoming one of the most...

Saving Advice

Why the IRS Is Mailing New Refund‑Delay Notices — And What They Mean for You

If you were counting on your tax refund to cover bills, groceries, or even a small splurge, opening your mailbox to find an IRS letter...

The Free Financial Advisor

Missing This IRS Filing Deadline Leads to Automatic Penalties—No Exceptions

If you’ve ever told yourself, “I’ll get to my taxes later,” this is your wake-up call. The IRS isn’t known for flexibility, and when it comes to filing deadlines, it plays by a strict set of rules that rarely bend. Miss the cutoff—even by a day—and you could be facing…

Kiplinger

The New Retirement Math: How an Active Lifestyle Can Lower Your 2026 Taxes

Avoid rising IRMAA surcharges and discover how volunteering and part-time work keep more of your Social Security benefits tax-free.

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