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The Latest Breaking News from IRS

IRS Faces Challenges Despite Improvements In Taxpayer Services

IRS faces challenges in processing pandemic-era tax credit claims and resolving identity theft cases. Recommendations for enhancing operations and concerns...

Top News

The American Opportunity Tax Credit (AOTC): How Much Is It Worth?

This tax break can help you offset $2,500 in qualifying expenses tied to your higher education. Here's what you need to know.

Kiplinger

Child Tax Credit 2024-2025: Eligibility Details And What The Trump Admin Has Said About It

If you've started fixing your documents for the 2024 tax year, you may be interested in the child tax credit – if you have multiple dependents, you may be able to save thousands in taxes this year through this policy.

International Business Times

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Understanding The Head Of Household Filing Status: A Guide To Tax Benefits And Qualifications

The Head of Household (HOH) filing status provides valuable tax advantages, including a higher standard deduction and more favorable tax rates. However, to qualify for this status, taxpayers must meet specific criteria, including supporting a dependent and maintaining a home.

International Business Times

Man Refuses To Share His SSN, Girlfriend Insists It’s Non-Negotiable, Silence Follows

His girlfriend asked for his social security number a year into their relationship so she could "do a background check". He refused so she left. The post Man Refuses To Share His SSN, Girlfriend Insists It’s Non-Negotiable, Silence Follows first appeared on Bored Panda.

Bored Panda

1099-K Reporting Change for the 2025 Tax Season

An IRS 1099-K threshold change will impact millions of tax bills this filing season.

Kiplinger

IRS Failed To Properly Dispose of Sensitive Tax Documents, Report Finds

Some IRS offices routinely threw away sensitive material with regular trash, while others used unlocked or damaged storage bins.

Reason

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Should You Buy a Vacation Home?

If you vacation to a beloved destination again and again, purchasing a home there may be a smart move — but don’t overlook the costs and effort that go into it.

Kiplinger

GOP quietly cuts IRS funding by $20B

The GOP assault on the revenue collecting agency's funding could exacerbate wait times and balloon the deficit

Salon

Key 2025 IRS Updates: What You Need to Know

From IRA contributions to Social Security COLAs and the standard deduction, several changes are headed our way. Get ready to make the most of them.

Kiplinger

New Year's Eve RMD Deadline: What to Know and What to Do

The year-end deadline for required minimum distributions is critical for many retirees.

Kiplinger

Top Tax Stories of 2024 and Key Changes to Watch for 2025

The Kiplinger tax team is looking back at popular tax stories and looking ahead to potential tax changes in the new year.

Kiplinger

A million US taxpayers to get pandemic-era stimulus checks worth up to $1,400

IRS says payments going to those who did not claim under 2021 recovery rebate plan in what may be final installment

The Guardian - US

Should you take the home mortgage interest deduction?

The home mortgage interest deduction can help some filers maximize their tax refund. But it’s less useful now than in years past—here’s what you need to know.

Fortune

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The Independent UK

IRS is sending unclaimed stimulus checks to 1 million taxpayers. How to find out if you’re one of them

These payments will be automatically sent to eligible taxpayers by the end of the month

Fortune

The IRS is sending $1,400 stimulus checks to 1 million taxpayers

The automatic deposits will be issued “later this month” and should arrive ”in most cases” by late January 2025.

The Guardian - US

‘God is not done with America’: Trump supporters take victory lap at star-studded Turning Point USA event

AmericaFest showcased Maga’s commitment to mobilizing conservative evangelicals into the Republican party base

International Business Times

IRS To Send Out Special 'Stimulus' Payments To 1 Million Taxpayers

Special payments — up to $1,400 per person — will be automatically deposited into taxpayers' bank accounts or mailed as paper checks, in the coming weeks.

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Kiplinger

Top 10 Myths About 1031 Exchanges, Debunked

Are you confused about 1031 exchanges? This brief guide busts the top myths about real estate's favorite tax-deferral strategy.

Top News

IRS To Distribute Special Payments To Eligible Taxpayers

IRS is issuing special payments to 1 million taxpayers who missed claiming the Recovery Rebate Credit. Payments up to IRS To Distribute Special Payments To Eligible Taxpayers,400 will be automatically distribu...

The Independent UK

A million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now?

Approximately 1 million taxpayers will automatically receive special payments of up to $1,400 from the IRS in the coming weeks

Kiplinger

The IRS Is Sending Up to $1,400 to One Million People: Are You Eligible?

A million taxpayers overlooked valuable tax relief during the pandemic and could receive an automatic payment.

Investors Business Daily

EV Tax Credits 2025: $7,500 Is Up For Grabs. Here's How To Get It.

To earn the biggest federal EV tax credit, check the full list of 2025 and 2025 electric cars and trucks that qualify and learn how to get it.

MusicRadar

New book Dust & Grooves Vol.2 tells the tall tale of the scam records that could make collectors a fortune

Some of today’s most in-demand rare records actually weren’t meant to be bought at all…

Kiplinger

What Is a Qualified Charitable Distribution (QCD)?

A QCD can lower your tax bill while meeting your charitable giving goals in retirement. Here’s how.

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