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The Latest Breaking News from IRS

How Quitclaim Deeds Can Cause Estate Planning Catastrophes

A lot can go wrong (including inadvertent law-breaking) if you choose to go the easy route rather than using a trust to transfer real estate to your child.

Kiplinger

Understanding IRS Direct File: Who Could Benefit This Tax Season?

With tax season well underway, learn about this pilot free online tax-prep tool that will allow you to file your federal income tax returns for free

Latin Times

The Price of Filing Taxes With a Professional is Rising

The average cost of working with a tax professional is going up.

Kiplinger

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New Mileage Tax Deduction Rates Announced For 2024

Learn how tax planning, vehicle expenses, and retirement accounts can optimize take-home pay for business owners. Stay informed on tax deductions and IRS m...

Top News

Six Tax Breaks That Get Better With Age

Depending on your age, several tax credits, deductions, and amounts change — sometimes for the better.

Kiplinger

Navigating Tax Season: How to Get Free Help Filing Your Taxes

From tax clinics to free government programs, here are the free options you should know about at the time of filing your taxes

Latin Times

IRS Form 3520 Filing Obligations For U.S. Taxpayers

Stay compliant with IRS Form 3520 for foreign transactions to prevent penalties. Seek professional help if needed.

Top News

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The IRS is releasing a TurboTax alternative, and you can try it now

Direct File is a new Pilot Program from the IRS, promising to give 18+ million taxpayers access to free and accessible returns.

TechRadar

How Tax-Loss Harvesting Helps to Lower Your Tax Bill

This fairly straightforward tax strategy may help you reduce your capital gains taxes, but beware of triggering the wash sale rule.

Kiplinger

Four Ways Your Workplace Benefits Could Help With Your Taxes

Your employer may offer resources that can help you with your financial strategy, on top of providing potentially tax-advantaged retirement and other accounts.

Kiplinger

Are taxes stressing you out? Try this free alternative to Turbo Tax from the IRS

The IRS is now offering a free alternative to Turbo Tax to take some of the stress off this tax season.

Laptop

IRS Launches Direct File: Free Electronic Tax Filing For 12 States

The IRS's Direct File program offers a free and straightforward electronic filing option for taxpayers in 12 selected states.

International Business Times

IRS Launches Direct File System For Taxpayers In 12 States

IRS launches Direct File, an electronic system for simple federal tax filing in 12 states, aiming to reduce costs and streamline the process.

Top News

How to Determine If You Qualify for IRS Tax Relief Programs

The burden of tax debt can be overwhelming, casting a long shadow over your financial well-being.

inkl

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Marie Claire

The Most Common Mistakes People Make On Their Taxes, According to Experts

"There is no shame in asking for help on your taxes."

Kiplinger

Wealth Transfer and Strategic Gifting Opportunities for 2024

Inflation adjustments to the gift and estate tax exemptions, along with the pending sunset of some tax cuts, make 2024 the year to dig into transfer strategies.

Kiplinger

Six Biggest Mistakes Made on Retirees’ Tax Returns

Reducing your lifetime tax bill is the goal, so if you or your tax preparer made any of these mistakes, an amended return or better planning might be in your future.

Kiplinger

Ways to File Taxes for Free This Year

Tax season is about to begin, and if you’re looking to save money, there are several ways to file your taxes for free.

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news in one place.

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Kiplinger

How To Avoid Capital Gains Taxes

A few small changes in your investing strategy can result in big tax advantages.

Top News

IRS Enhances Where's My Refund Tool For Taxpayers

Learn about the IRS's enhanced Where's My Refund tool for tracking tax refunds with detailed statuses and estimated delivery times.

Kiplinger

Your Late IRA Contributions Have a Procrastination Penalty

There’s a 15-month window to make your IRA contribution for any given tax year. The earlier you make it, the more you benefit from the compounding effect.

Top News

IRS Launches Direct File Program For Free Tax Filing

Learn about Direct File, the IRS's new free electronic tax return system simplifying tax filing.

The Guardian - US

Michigan man given three years’ prison for not reporting illicit drug profits

Matthew D Adams must also pay more than $3m in restitution for scheme in which he and an accomplice tried to launder funds

Latin Times

What Are Education Tax Credits and How to Claim Them

A comprehensive guide on this tax credit, which may help you reduce the tax bill you owe to the IRS

InsideEVs

2024 Honda Prologue Officially Qualifies For $7,500 Federal Tax Credit

The upcoming 2024 Honda Prologue has been officially listed by the IRS among electric cars eligible for the full $7,500 federal tax credit.

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