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The Latest Breaking News from IRS

7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth

Many wealthy people are super skilled at using all the tax loopholes available to them to minimize their taxes and maximize their wealth.

GOBankingRates

Tax Reset: 8 Moves to Consider If You’ve Had a Windfall in 2025

A sudden windfall in 2025 can feel like someone handed you a golden ticket—maybe from a business sale, a legal settlement, a crypto boom, or even an unexpected inheritance. The thrill is real, the excitement palpable, and the possibilities endless. But along with that exhilaration comes a giant, unavoidable reality…

The Free Financial Advisor

New 401(k) Limits for 2026: 4 Expert Tips To Boost Your Retirement Savings

The IRS raised 401(k) limits to $24,500 for 2026. Here are four expert tips to save more and cut taxes.

GOBankingRates

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Trump Accounts Offer Eligible Children $1,000: Contributions Begin 4 July 2026

US parents can claim $1,000 government investment accounts for children born between 2025 and 2028 starting July 2026. Experts warn against adding personal funds.

International Business Times UK

How To Get a Head Start on Your 2026 Tax Return in January — Tax Experts Share 8 Moves

By taking a few intentional steps in January, you can smooth out your tax burden, reduce errors and make the 2026 filing season far less stressful.

GOBankingRates

Why I have a financial planner

Hiring a financial planner can deliver a return that can’t be quantified: peace of mind

The Independent UK

IRS Eases Health Savings Account Eligibility Under Trump's Bill Amid Uncertainty Over ACA Subsidies

The US Treasury and the IRS have widened the eligibility for health savings accounts as policymakers debate the future of Affordable Care Act subsidies, which are set to end this year.

International Business Times UK

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Law Reversal Looming? Trump Eyes 2026 Gambling Winnings Tax Change

It's no secret that the IRS is coming after your gambling winnings in 2026. But how long will that last?

Kiplinger

Your Year-End Tax and Estate Planning Review Just Got Urgent

Changing tax rules and falling interest rates mean financial planning is more important than ever as 2025 ends. There's still time to make these five key moves.

Kiplinger

Why Tribes Waited 30 Years for Trump's Tax Break—And the Billions It Just Unlocked

The Trump administration finalised tax rules after a 30-year wait, confirming tribal businesses are tax-exempt and unlocking capital for $43.9B in gaming and clean energy sectors.

International Business Times UK

A woman is suing the IRS to get pets classified as dependents and eligible for tax deductions

The woman argued that her dog ‘is like my daughter’ and ‘definitely’ a dependent

The Independent UK

I Asked ChatGPT How Billionaires Safeguard Wealth — Anyone Can Use These Tips

The 0.01% have significant ways of protecting their wealth, and surprisingly, most of them are available to the common taxpayer — and even affordable to do.

GOBankingRates

Suze Orman: Why You Shouldn’t Overlook This Retirement Planning Benefit

Suze Orman explains why this overlooked retirement benefit could boost your savings and help secure a stronger financial future.

GOBankingRates

Photo: A Furloughed Federal Worker Opens a Hot Dog Cart

The stand has been so successful that IRS lawyer Isaac Stein intends to continue his hot dog hustle on weekends.

Reason

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Financial Expert: Here’s the Smartest Way Boomers Can Give Kids Tax-Free Money

Financial expert Lance Morgan reveals why $19,000 is the magic number for boomers helping their kids financially. Here's how the tax-free gift strategy works.

Budget and the Bees

Warning: The New IRS Rule Change That Could Affect Your Venmo and PayPal Accounts

We used to live in a world where selling an old couch on Facebook Marketplace or splitting a dinner bill via Venmo was a private transaction. Those days are changing fast. The IRS has been rolling out new reporting thresholds that have left many of us confused and slightly panicked…

Kiplinger

I'm a Financial Planner for Millionaires: Here's How to Give Your Kids Cash Gifts Without Triggering IRS Paperwork

Most people can gift large sums without paying tax or filing a return, especially by structuring gifts across two tax years or splitting gifts with a spouse.

GOBankingRates

You’re Probably Overpaying the IRS by $1,000 or More a Year: Here’s How To Stop

The average refund in 2025 was around $3,000, which means that if you're getting a refund, you're likely overpaying the IRS.

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Kiplinger

Ask the Editor, December 12: IRAs, 401(k)s and RMDs

In this week's Ask the Editor Q&A, Joy Taylor answers questions on IRAs, 401(k)s and required minimum distributions

Budget and the Bees

6 Tax Deductions Retirees Often Miss (But Are Entitled To)

Retirement is a huge milestone. Naturally, you spent decades working toward it. However, the party eventually ends. Once the steady paychecks stop, the reality of a fixed income sets in. Honestly, this shift feels strange. In a way, you switch from saver to spender. Suddenly, every dollar leaving your account…

Fortune

DOGE isn’t dead—it’s been absorbed into the bloodstream of the government, federal employees say

“It’s like taking the dust jacket off of the book and saying, ‘We’ve got rid of the book,’” one federal employee said.

The Free Financial Advisor

Tax Surplus: 10 Moves That Can Cut Your 2025 Tax Bill Before the Year Ends

As the year winds down, many people start thinking about holiday plans, New Year’s resolutions, or how fast the months flew by. Few, however, pause to consider one of the most exciting things a savvy taxpayer can do: cut their tax bill before December 31st. Yes, it’s thrilling in its…

The Independent UK

How the IRS' crime-fighting force took on immigration and other issues in 2025

The IRS Criminal Investigations unit is doing more than just cracking down on tax evaders

Kiplinger

5 Types of Gifts the IRS Won’t Tax: Even If They’re Big

Several categories of gifts don’t count toward annual gift tax limits. Here's what you need to know.

Kiplinger

The 'Scrooge' Strategy: How to Turn Your Old Junk Into a Tax Deduction

We break down the IRS rules for non-cash charitable contributions. Plus, here's a handy checklist before you donate to charity this year.

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