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The Latest Breaking News from IRS

What is a traditional IRA? Here’s how using one can save thousands on your taxes

A traditional IRA is an individual retirement account that offers tax-deferred growth–but there are limits to what you can contribute each year.

Fortune

One Key Rule for Understanding 2023 RMDs

Required minimum distribution (RMD) rules can be confusing, but there is a guideline that can help.

Kiplinger

Tax Plans of the 2024 Presidential Candidates

Joy Taylor reviews the tax plans of the 2024 election candidates. With a raft of tax provisions due to expire in 2025, the tax stakes couldn't be higher.

Kiplinger

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Kissinger Dies

Plus: Trump opts out of debates, blackface story gets a twist, AI-enhanced IRS, and more...

Reason

What Is a 403(b) Retirement Plan?

Many teachers and other non-profit workers are offered 403(b) plans, rather than a 401(k). But what is a 403(b)?

Kiplinger

How to avoid donation scams on Giving Tuesday

Giving Tuesday is celebrated on Tuesday after Thanksgiving

The Independent UK

Bribery case: HC extends Sameer Wankhede's interim protection from coercive action till Jan 10

Mumbai HC extends interim protection to IRS officer Sameer Wankhede till Jan 10 in extortion, bribery case related to Cordelia cruise drugs case. CBI to argue on Jan 10/11. Wankhede seeks to quash FIR lodged by CBI.

The Hindu

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Another Big IRS Tax Change for Online Sellers

Just in time for the holidays, the IRS is delaying a significant tax 1099-K reporting requirement for 2023.

Kiplinger

The IRS Won't Make Taxpayers Report Taylor Swift Ticket Sales (and Other Online Transactions Over $600)

For now, at least.

Reason

Tax-Deductible Black Friday Deals for the Self-Employed

Some Black Friday deals can help the self-employed save on business expenses and taxes.

Kiplinger

Does your income exceed IRS limits? Try a backdoor Roth IRA.

A backdoor Roth IRA is a legal tax strategy for converting traditional IRA money into a Roth IRA.

Fortune

IRS delays new online sellers’ tax reporting threshold - Roll Call

The IRS is postponing a lower threshold for reporting online sales and gig work by another year until 2024.

Roll Call

Americans Are Still Fleeing High-Tax States

Lower taxes create opportunities that draw even those not consciously considering tax rates.

Reason

What's the 2024 Estate Tax Exemption?

The estate tax exemption amount increased for 2024. Will your heirs escape a tax bill?

Kiplinger

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Roll Call

Senate Democrats stop GOP 'sneak attack' on House-passed Israel aid and IRS cut bill - Roll Call

A GOP senator staged what he described as a "sneak attack" to force a vote on a House-passed Israel aid bill that includes cuts to the IRS.

Kiplinger

Child Tax Credit: How Much Is It for 2024?

What family tax credits and deductions will you qualify for in 2024? And how much are they worth?

Chicago Sun-Times

Republicans once again appeal to the rich in bid to cut IRS funds

This proposal to cut funds aimed at catching tax cheats echoes the Trump-Republican tax cuts that included the largest corporate tax cut in U.S. history, a suburban writer points out.

Kiplinger

Delaware Statutory Trust: A Viable Alternative to Debt Replacement

Using a DST would not only meet the debt replacement requirement in a 1031 exchange, but the DST could also help the investor diversify their portfolio.

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news in one place.

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Kiplinger

What Are the FSA Contribution Limits for 2024?

Flexible spending account (FSA) contribution limits for 2024 are higher than last year.

The Guardian - US

Trump and SBF blamed their accountants – but your taxes are your responsibility

We business owners can’t just shrug and say it’s the accountant’s job – it’s our signature on those forms

Investors Business Daily

HSA Accounts Pack A Powerful Long-Term Savings Punch For Millennials And Gen Z

HSAs are powerful tools to build your financial future. The younger you are and the sooner you start saving and investing, the more benefit HSAs can provide.

Kiplinger

Cash Balance Plans: Big Deductions and Big Retirement Savings

With the IRS focusing more on high-net-worth taxpayers, is it time for business owners to consider implementing cash balance plans?

Kiplinger

2024 Standard Deduction Amounts Are Here

What will the standard deduction for your filing status be in 2024?

Kiplinger

Income Tax Brackets for 2024 Are Set

The IRS has adjusted federal income tax bracket ranges for the 2024 tax year to account for inflation.

Kiplinger

How Does Being a Veteran Impact Your Taxes?

Veterans may be eligible for certain federal and state tax benefits.

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