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The Latest Breaking News from IRS

Her Husband Believes The Government Isn't Real And That They Don't Have To Pay Back Anything. So They Didn't And Now Owe $900K In Total

A woman named Mary from Charlotte, North Carolina, called into a recent episode of “The Ramsey Show,” hosted by George Kamel and Ken Coleman, to explain how her husband’s fringe beliefs nearly destroyed their finances, and may still ruin their future.

Benzinga

7 Bank Transfers That Created Permanent Tax Problems

Transferring money between bank accounts seems simple. But some bank transfers can create tax problems that never go away. Many people don’t realize that a single transfer can trigger IRS scrutiny, penalties, or even criminal charges. If you’re not careful, you could end up with a permanent tax issue that…

Clever Dude

Five Ways Trump’s 2025 Tax Bill Could Boost Your Tax Refund (or Shrink It)

The tax code is changing again, and if you’re filing for 2025, Trump’s ‘big beautiful’ bill could mean a bigger refund next year, a smaller one, or something in between. Here are five ways the new law could impact your bottom line.

Kiplinger

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8 Property Title Transfers That Trigger Federal Scrutiny

Property title transfers often feel like straightforward real estate procedures—but some can suddenly catch the eye of federal regulators. Whether due to tax, anti-money laundering laws, or mortgage clauses, certain transfers trigger more attention than others. Understanding the triggers helps you stay compliant and avoid costly surprises. Let’s explore 8…

Clever Dude

Lockheed Martin Under Intense Wall Street Pressure On Mounting Program Risks, Q2 Woes

Lockheed Martin Corp. (NYSE:LMT) faces growing pressure from Wall Street after delivering mixed second-quarter results and absorbing nearly $1.6 billion in charges across key segments.

Benzinga

IRS Budget Axed: $2.8 Billion Cut Sparks Partisan Clash

A House Appropriations subcommittee has passed legislation that would allocate $9.5 billion to the IRS for fiscal year 2026, marking a decrease of more than 20% compared to the agency's current $12.3 billion funding.

Benzinga

Social Security Garnishment: Understand the Rules and Safeguard Your Benefits

Do you know who can garnish your monthly Social Security benefit? Or take the funds from your bank account? Learn how to protect your benefits from creditors.

Kiplinger

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Adam Schiff Says Your IRS Data May Have Been Breached — And Not By A Hacker, But Donald Trump: 'Consider This Your Warning'

Rep. Adam Schiff (D-Calif.) is urging Americans to treat their tax records as already compromised, blaming what he calls an "unprecedented" data grab engineered by President Donald Trump.

Benzinga

Is a Fourth Stimulus Cheque Coming in 2025? Here's Why You Shouldn't Hold Your Breath

No fourth federal stimulus cheque approved for 2025 as economic indicators improve and Congress shows no plans for new direct relief payments.

International Business Times UK

10 Retirement Scams Targeting People Over 60 Right Now

If you’re over 60, chances are you’ve become a target for fraudsters looking to exploit your hard-earned savings. As retirees settle into what should be...

Saving Advice

6 Financial Accounts That Should Never Be Jointly Held

Money brings people together. But it can also tear them apart faster than you’d imagine. While joint accounts seem like the natural next step in serious relationships, some financial accounts should remain strictly individual. The wrong choice here can cost you thousands of dollars, damage your credit score, and create…

Clever Dude

Grant Cardone Explains Why The 401(k) Is 'The Biggest Scam' In Finance

Financial personality Grant Cardone has shared a bunch of hot takes throughout his career, including his latest tidbit about 401(k) and IRA plans. He refers to these retirement accounts as "the biggest scam" in finance.

Benzinga

New Cap on Gambling Loss Deductions Begins Soon: What to Know Now

A gambling losses tax deduction cap in Trump’s “Big Beautiful Bill” is causing an uproar. Here’s what you need to know.

Kiplinger

These 5 Tax Hacks Could Get You Audited

If someone is recommending an easy "tax hack," this should be a sign to stop and do your research, or get professional advice, before you follow suit.

GOBankingRates

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The Free Financial Advisor

Estate Sales Are Being Canceled Due to This New IRS Rule

Estate sales have always been a way for families to handle the belongings of loved ones who have passed away. They help people clear out homes, settle debts, and sometimes even find hidden treasures. But now, a new IRS rule is causing many estate sales to be canceled. This change…

Saving Advice

8 Government Agencies That Still Use Paper Files At Your Expense

In an age where nearly everything has gone digital, many people assume that government agencies have also embraced streamlined, paperless systems. After all, businesses, banks,...

The Free Financial Advisor

What Happens When a Joint Bank Account Owner Dies?

When you open a joint bank account, you probably don’t think about what happens if one owner dies. But this is a real issue that can affect your money, your family, and your peace of mind. Many people use joint accounts for convenience, to pay bills, or to help a…

Fortune

An American who helped North Korean IT workers rake in $17.1 million faces sentencing in scheme that tricked hundreds of Fortune 500 companies

Arizona woman Christina Chapman carefully oversaw at least 90 laptops at her home and shipped dozens of others to China, Russia, the UAE, and Nigeria, authorities said.

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Kiplinger

Ask the Editor, July 18: Questions on the $6,000 Senior Deduction

In this week's Ask the Editor Q&A, we answer tax questions from readers on the new $6,000 deduction for taxpayers 65 and older.

Reason

The CEO of NPR Made the Best Case for Defunding It

The notion that NPR can somehow become unbiased is about as believable as the IRS sending you a fruit basket to commend you for filing your taxes.

Kids Ain't Cheap

Child Savings: 11 Unexpected Taxes That Destroy Child Savings

Image source: 123rf.com

The Free Financial Advisor

8 Estate Planning Moves That Cost More Than They Save

Estate planning is supposed to make life easier for your loved ones and protect your assets. But some decisions, even if they seem smart at first, can end up costing you more than they save. Mistakes in estate planning can lead to higher taxes, legal headaches, and family disputes. Many…

The Free Financial Advisor

10 Times a GoFundMe Campaign Led to Legal Trouble

GoFundMe has changed how people ask for help. It’s easy to set up a campaign and share your story. But sometimes, things go wrong. Some campaigns end up in courtrooms instead of helping hands. If you’re thinking about starting a GoFundMe or donating to one, you need to know the…

Benzinga

Trump Admin Grants ICE Access To 79 Million Medicaid Records — California AG Rob Bonta Calls It 'Unprecedented' Privacy Breach

The Trump administration will give Immigration and Customs Enforcement access to the personal data of nearly 79 million Medicaid enrollees, a trove that includes names, addresses, birth dates, race and ethnicity, and Social Security numbers, according to an agreement obtained by The Associated Press.

Clever Dude

8 Tax Moves That Could Cause Penalties This Year

Tax season is something that stresses a lot of people out. And if you’re like many Americans, you might be thinking about your tax situation all year long. One wrong move could potentially trigger some hefty tax penalties. Taking the time to understand what landmines are lurking in common tax…

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