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The Latest Breaking News from IRS

12 Tax Deductions Retirees Should Confirm Before Filing

Tax season can be stressful for retirees, especially those living on fixed incomes. While Social Security and pensions provide stability, taxes can quickly erode monthly...

Saving Advice

Trump And The FBI Allegedly Putting Together a 'Naughty List' of People They Deem to Be 'Extremists'

A White House memorandum and an Attorney-General directive instruct the FBI and other agencies to compile lists of organisations deemed 'extremist'.

International Business Times UK

Saved by ChatGPT: Widow's £1M Scam Confirmed—Her Home Still at Risk

A woman in her seventies lost nearly another £1 million to a romance scam before ChatGPT confirmed her worst fears. Holiday crypto fraud has surged 300% as scammers exploit loneliness.

International Business Times UK

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Tax Experts Warn Tipped Workers May Struggle to Claim Over $4,400 in Tax Savings Despite New IRS Rules

IRS guidance confirms W-2 forms remain unchanged, forcing servers and bartenders to manually track tips. Many lack records to claim up to $4,400 in savings by April.

International Business Times UK

8 Digital Wallet Rule Changes Slowing Down Senior Refunds

Digital wallets are no longer just for younger consumers—they’ve become central to how seniors receive refunds, Social Security payments, and tax credits. In 2025,...

Saving Advice

5 RMD Mistakes That Could Cost You Big-Time: Even Seasoned Retirees Slip Up

The five biggest RMD mistakes retirees make show that tax-smart retirement planning should start well before you hit the age your first RMD is due.

Kiplinger

A Retirement Triple Play: These 3 Tax Breaks Could Lower Your 2026 Bill

Good news for older taxpayers: Standard deductions are higher, there's a temporary 'bonus deduction' for older folks, and income thresholds have been raised.

Kiplinger

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5 IRS Identity Verification Changes Impacting Senior Filers

Tax season is always stressful, but in 2025, the IRS is introducing new identity verification changes that directly impact senior filers. These updates are designed...

Saving Advice

The New Year Brings Stricter IRS Audits for Self-Employed Retirees

As the calendar turns to 2025, the IRS is rolling out stricter audit procedures that directly affect self-employed retirees. These changes are part of a...

Saving Advice

A Trip Through Willie Nelson’s Golf Course, His Unorthodox Rules, and His Uncertain Tribal Identity

My wife Monica and I had different reasons for journeying to Pedernales. She’s a fan. But our visit to Willie’s golf course was partly for my research on a book on Native-owned golf courses.

Texas Observer

'The Economy Is Quite Booming'—Dave Ramsey Shuts Down Caller Blaming The Economy For Her Struggles. 'The Economics At Your House Suck'

When a recent caller tried to blame the economy for her family's million-dollar debt, Dave Ramsey fired back that it’s not the economy’s fault.

Benzinga

4 Smart Ways Retirees Can Give More to Charity, From a Financial Adviser

For retirees, tax efficiency and charitable giving should go hand in hand. After all, why not maximize your gifts and minimize the amount that goes to the IRS?

Kiplinger

10 Things You’re Not Allowed to Do With Lottery Money

We’ve all dreamed of winning the lottery. One day, you’re broke. Next, you’re holding millions in your hands. But the reality is that lottery money doesn’t give you unlimited freedom. There are laws, tax codes, and financial regulations that place strict limits on how you can use your winnings. In…

Clever Dude

7 Tax Reporting Changes Hitting Seniors Who Do Gig Work in January

Gig work has become an important source of supplemental income for retirees. Driving for rideshare companies, freelancing online, or selling crafts provides flexibility and helps...

Saving Advice

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MarketBeat

Wolfspeed Just Got a $698 Million Lifeline—Here’s Why That Changes Everything

Wolfspeed secures a cash infusion from the IRS, fortifying the balance sheet and shifting the narrative from survival to focused operational execution.

Benzinga

He Has 27 Rentals, Makes $15,000 A Month, But Hasn't Paid Taxes In A Decade. 'For A Guy Who Doesn't Pay Taxes, You Shouldn't Be This Broke'

Claud from Orlando, Florida, called into “The Ramsey Show” with a confession: he hasn't filed his federal taxes since 2016. Despite owning 27 rental properties and reportedly bringing in up to $15,000 a month, Claud is struggling with cash flow and facing a looming financial mess.

Kiplinger

3 Year-End Tax Strategies for Retirees With $2 Million to $10 Million

To avoid the OBBB messing up your whole tax strategy, get your Roth conversions and charitable bunching done by year's end.

International Business Times UK

IRS Annual Limits 2026: '$24,500 Cap Won't Rescue Middle-Class Savings,' Experts Say

The IRS raises 2026 401(k) contribution limits to $24,500, but experts warn this increase won't solve the retirement savings crisis facing middle-income Americans.

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Reason

The IRS Moves To Keep Its Cut of Porn Tips

The agency has proposed excluding tips received from "pornographic activity" from a new tipped wage deduction.

The Independent UK

HMRC launches US-style ‘reward’ scheme for exposing tax dodgers

Successful whistleblowers could receive hundreds of thousands from the tax authority

International Business Times UK

Trump's ICC Fears Heighten As He's Hit With Landmark Human Rights Complaint Over Deadly Raid

The first formal human-rights complaint against Trump's Caribbean boat strikes secures backing from a Colombian family.

Reason

The Affordability Con Job

Plus: Tennessee election results, Three Mile Island controversy, immigration enforcement will hit Somali community, and more...

The Guardian - US

Revealed: US veterans affairs to share immigration data about non-citizen workers with ‘appropriate agencies’

Exclusive: The move prompts fears the data will be sent to ICE to further the Trump administration’s immigration crackdown

Benzinga

Elizabeth Warren Has A Prophecy About The 2026 Tax Season, Says Demise Of Direct File Means 'Huge Profits' For Some And Americans Getting Ripped Off

Sen. Elizabeth Warren (D-Mass.) on Tuesday blasted expected price hikes from tax-prep giants TurboTax and HR Block, blaming Trump administration policies that killed the IRS's free Direct File system and layered on new Republican tax breaks that make filing more complicated for millions of Americans.

International Business Times UK

IRS OnlyFans Crackdown: Yoga and Cooking Channels at Risk of 'Porn' Label, Accountants Warn

Federal regulators ban 'pornographic activity' from tax-free tips but provide no definition, leaving yoga instructors, chefs, and creators vulnerable to IRS audits.

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