The Latest Breaking News from IRS

Tax deadlines may feel like just another date on the calendar, but for some, missing one can lead to devastating financial consequences. One heartbreaking story that highlights this risk is how one missed tax deadline cost a widow her retirement home. After losing her spouse, this widow believed she had…

When you think about retirement accounts, you probably picture steady growth, compound interest, and a future where your money is safe. But there’s a detail that can throw a wrench in your plans: a simple name misspelling. It sounds minor, but it can freeze your retirement accounts, block transactions, and…

Passing wealth to loved ones should be a straightforward process, but too often, poor planning turns a gift or inheritance into a tax disaster. Families with good intentions sometimes overlook the complicated rules around large transfers, leaving heirs stuck with audits, penalties, or unexpected tax bills. These situations not only…

Warren Buffett’s estate planning advice reveals why transparency, timing and trust are key to securing your legacy and preparing your heirs.

When tax season rolls around, everyone wants to save money. Tax breaks can seem like a gift. They promise lower bills and bigger refunds. But not all tax breaks are as helpful as they look. Some can cost you more in the long run. Others come with strings attached that…

While the new overtime tax break is good news for some, the reality is that not everyone qualifies. Here's what you need to know.

A new tax deduction lets car buyers write off up to $10,000 in loan interest -- if they meet these key requirements. Find out what you need to qualify here.

Inheriting property sounds like a stroke of luck—free real estate, a connection to family legacy, maybe even a financial windfall. But behind the curtain, inherited homes can come with tangled legal strings, hidden debts, and family disputes that erupt like volcanoes.

We still need real tax reform and much lower federal spending.