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The Latest Breaking News from IRS

You May Have to Put Catch-Up Contributions in a Roth 401(k): That's Not a Bad Idea

High earners will be required to put their catch-up contributions in a Roth 401(k).

Kiplinger

Taking From IRS, Giving to Israel

Plus: Massive union wins, abortion rebrands, Silvio Berlusconi's nude-art collection, and more...

Reason

Up First briefing: Israel won't agree to a cease-fire; how tech messes with our senses

Israeli troops have advanced deeper into Gaza as Prime Minister Benjamin Netanyahu rejects international calls for a humanitarian pause. Ditching your phone can help you tune in to your body.

WEKU

From analysis to the latest developments in health,
read the most diverse news in one place.

House Republicans unveil $14.3B stand-alone Israel supplemental - Roll Call

House Republicans' stand-alone bill would decouple aid for Israel from aid for Ukraine and border security.

Roll Call

How Are I Bonds Taxed? Nine Common Situations

Series I bonds are a popular investment that can help you save on taxes, but the federal income tax consequences can be complex.

Kiplinger

Saving For Retirement If You Don't Have A 401(k)

Saving for retirement isn't easy even if you have a 401(k). It's even harder if you don't have access to an employer-sponsored retirement plan

Investors Business Daily

You Can't Fix Him (the IRS)

Plus: Tanks in Gaza, quitting the DSA, Gen Z hates a sex scene, and more...

Reason

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The grey moral ground of lying on expense travel reports

A Citibank employee was recently fired for fudging receipts, but companies are striving to follow the rules laid down by the IRS

The Guardian - US

IRS plans limited rollout of free e-file tax return system with invitations to select taxpayers

The agency estimates that hundreds of thousands of taxpayers will participate in the limited rollout of the program for the 2024 filing season.

Chicago Sun-Times

‘Oh, come on!’ Groans and gritted teeth as Jordan loses first speaker round

As Jim Jordan came up short Tuesday afternoon, visitors watching from the gallery said this was — and wasn’t — planned.

Roll Call

'This is all bad news': 'Shark Tank' mogul Kevin O'Leary looks at the commercial real estate landscape and despairs, warning of 'chaos' to come

Not only does O'Leary see a "correction" coming for the office sector, but in New York it may be better "to actually tear these buildings down and rebuild.”

Fortune

Harvard billboard accusing students of antisemitism linked to rightwing funder

IRS filings show Informing America Foundation helping to bankroll variety of conservative groups and causes

The Guardian - US

Americans Don't Much Like Federal Agencies

Yet another year of low ratings for the apparatus of the D.C. leviathan.

Reason

Why Microsoft got a $29 billion tax bill from the IRS

In the largest tax audit in U.S. history, the IRS rejected Microsoft’s efforts to assign profits to a small factory in Puerto Rico.

Fortune

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Reason

Short Circuit: A Roundup of Recent Federal Court Decisions

SWAT takings, retaliatory liens, and a Spam confiscation.

Kiplinger

Medicare Premiums 2024: IRMAA for Parts B and D

WEKU

Gap between U.S. income taxes owed and paid is set to keep growing, the IRS says

For tax years 2021 and 2020, the latest to receive such IRS estimates, the projected gross "tax gap" soared to $688 billion and $601 billion, respectively. That is a significant jump from the past.

The Independent UK

Ex-IRS contractor pleads guilty in leak of tax return information of Trump, wealthy people

A former contractor for the Internal Revenue Service charged with leaking tax information to news outlets about former President Donald Trump and thousands of the country’s wealthiest people pleaded guilty Thursday in an agreement with prosecutors

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Chicago Sun-Times

Jeannine M. Baker, matriarch of Chicago blues dynasty, longtime IRS manager, dies at 82

Ms. Baker was not only “the glue” in one of Chicago’s greatest blues families, she also kept the books.

The Street

Microsoft says the IRS is overcharging it by nearly $30 billion

Microsoft says it has paid $67 billion in taxes since 2004, but it's tax bill is still tens of billions of dollars bigger.

Kiplinger

States That Won't Tax Your Death

How much will your children —or other heirs — pay when you die? That depends on whether you live in a state with no death tax.

The Independent UK

Gap between US income taxes owed and paid is set to keep growing, IRS says

The amount of tax money owed but not paid to the IRS is set to keep growing

Kiplinger

Social Security and Your Taxes: Five Things to Know

The Social Security COLA is just one aspect of your benefits that can impact your taxes.

Investors Business Daily

Cathie Wood Keeps Selling Tesla Stock As $7,500 Tax Credit For Model 3 Likely Gone

Cathie Wood sold more than 80,000 TSLA shares last week with Tesla announcing the IRA tax credit for the Model 3 will likely be reduced to $3,750 next year.

The Independent UK

IRS says Microsoft may owe more than $29 billion in back taxes; Microsoft disagrees

The Internal Revenue Service says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus penalties and interest

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