The Latest Breaking News from IRS

A lot of backtracking from this administration.

Tax season always brings a mix of anticipation and uncertainty, but 2025 is shaping up to be especially significant. This year, the IRS has introduced five flattened tax brackets, which means the way your income is taxed could look quite different. If you’re used to the old progressive system, these…

Most people think of deposit slips as routine paperwork, but they play a bigger role during tax season than you might expect. Deposit slips are often the first place the IRS or your accountant looks for clues about your income. If your bank deposit records don’t match what you report,…

The IRS letter. Nobody wants one, but plenty of people get them. It’s not always about an audit; sometimes it’s a math error, a missed form, or even a misplaced digit. Still, that thin envelope with the official seal is enough to spike anyone’s blood pressure.

In this week's Ask the Editor Q&A, we answer questions from readers on what Congress will do next with taxes.

Investors must be able to free up cash to meet short-term needs from time to time. This strategy will help you access capital without derailing your long-term goals.

Today's Ninth Circuit decision in Thakur v. Trump (Judge Morgan B. Christen, joined by Judges Richard A. Paez and Roopali… The post Cancellation of DEI-Related Grants Likely Violates First Amendment, Ninth Circuit Holds appeared first on Reason.com.

Selling a home later in life often feels like a fresh start, whether you’re downsizing, relocating, or cashing in on years of appreciation. But many homeowners are caught off guard by the financial consequences that come with such a big transaction. The IRS has specific rules, exemptions, and hidden details…

Turning 70½ brings with it new retirement planning opportunities, especially when it comes to required minimum distributions (RMDs). For many retirees, these withdrawals can significantly increase taxable income, pushing them into higher brackets or raising Medicare costs. Fortunately, qualified charitable distributions at 70½ provide a smart way to give to…

So, you’ve been diligently stashing cash into your IRA or 401(k), dreaming of sandy beaches and endless rounds of golf. You’re playing the long game, building that nest egg with discipline and foresight.

Digital advisors, also known as robo-advisors, have made investing easier and more accessible than ever. With low fees and automated portfolio management, they seem like the perfect solution for hands-off investors. But behind the convenience, digital advisors can sometimes trigger unexpected tax consequences. If you’re not paying attention, these surprises…