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The Latest Breaking News from IRS

IRS Quietly Changed the Rules on Your Children’s Inheritance

Property, such as your home, held in an irrevocable trust 'that is not included in the taxable estate at death' will no longer receive a step-up in basis. Here’s why the wording of that is key.

Kiplinger

DAFs vs. Private Foundations: Which Giving Strategy Is Right for You?

Let’s explore how each of these charitable giving vehicles can help you to maximize your charitable giving in a tax-smart manner and expand your impact.

Kiplinger

Warning: Watch Out for New IRS Refund Mail Scam

If you receive a cardboard envelope appearing to be from the IRS about an unclaimed tax refund, be cautious. It’s a new scam.

Kiplinger

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LOCALIZE IT: Moms for Liberty expands efforts to take over school boards, other education posts

EDITORS/NEWS DIRECTORS:

The Independent UK

Rich crypto traders to face IRS scrutiny after judge rules against Kraken

The tax agency’s investigation into crypto traders comes amid a larger crypto crackdown from the federal government.

Fortune

Will Pennsylvania Tax Breaks Help Replace Lost Residents?

Proposed Pennsylvania tax breaks could result in big tax cuts, but if the tax breaks happen, will they be enough to help Pennsylvania replace the 40,000 residents it lost?

Kiplinger

IRS Services Improve but Are Still Lacking

A new report says that while some IRS services have shown drastic improvement, others are still lacking. Here’s where the IRS is falling short.

Kiplinger

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How I’m Dealing With Nanny Taxes

Hiring full-time help, such as a nanny, requires financial obligations to pay certain taxes. Here's how to keep track of what you're responsible for.

Kiplinger

Prosecutor in the Hunter Biden case denies retaliating against IRS agent who talked to House GOP

The federal prosecutor leading the investigation of President Joe Biden’s son Hunter is pushing back against claims that he was blocked from pursuing criminal charges in Los Angeles and Washington

The Independent UK

Scoop: Hunter Biden's lawyer roasts IRS whistleblowers in message to GOP chair

Hunter's lawyer Abbe Lowell is now taking the lead in fighting back.

Axios

DeSantis wants to eliminate IRS and more

DeSantis also wants to eliminate the department that oversees U.S. nuclear weapons

Salon

Californians Will Get Another IRS Tax Deadline Letter

Millions of California residents impacted by severe weather will get a new mailing from the IRS about when their taxes are due.

Kiplinger

Republicans expand their Hunter Biden investigation by seeking an interview with the lead prosecutor

House Republicans are requesting voluntary testimony from nearly a dozen Justice Department officials involved in the investigation of President Joe Biden’s son Hunter

The Independent UK

DeSantis says as US president he would eliminate IRS and other agencies

Florida governor vows to ‘push back against woke ideology … we see creeping into all institutions of American life’

The Guardian - US

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The Independent UK

DeSantis says if elected he would abolish education, energy and IRS departments to fight ‘woke ideology’

The Florida governor is trailing former president Donald Trump by wide margins in Republican primary polls

The Hindu

Customs official remanded in ED custody in disproportionate assets case

A special Prevention of Money Laundering Act (PMLA) court on Wednesday remanded Additional Commissioner of Customs, IRS (Customs & Central Excise: 2008), Sachin Sawant in the custody of the Enforcement Directorate (ED) till July 5.

Kiplinger

Unrealized Gains Supreme Court Case Could Change Wealth Taxes

In a landmark case, the U.S. Supreme Court will decide whether a mandatory tax on unrealized gains violates the Constitution.

Tribune News Service

Editorial: Inflation Reduction Act will add to the deficit

Massive government spending programs typically cost more than projected. At some point, one might even call it a pattern.

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StockNews.com

2 Private Equity Stocks to Buy, 1 to Sell

With rising global deals, an expanding base of high-net-worth individuals, and enhanced volatility management, the outlook of the private equity industry radiates promise. Thus, investing in robust private equity stocks, IRSA Inversiones (IRS), and Saratoga Investment (SAR) seems wise. Conversely, Blackstone (BX) might be best avoided now due to its…

Chicago Sun-Times

Sentencing of former state Sen. Terry Link set for October

Link’s entanglement with the feds first became known in October 2019, when the Chicago Sun-Times and other media reported he was the unnamed state senator who wore a wire against then-state Rep. Luis Arroyo. Link lied to reporters at the time and claimed it wasn’t him.

Reason

SCOTUS Case Could Quash Democrats' Wealth Tax Plans

Plus: Why people believe doomer narratives, schools seek to define social media platforms as public nuisances, and more...

Kiplinger

Four Ways Parents Can Help Kids Be First-Time Home Buyers

High real estate prices and interest rates are making buying a first home more challenging than ever, but parents can make loans, give gifts and be co-signers.

Axios

McCarthy threatens Attorney General Garland with impeachment inquiry

GOP-led committees are seeking information from a U.S. attorney who investigated Hunter Biden.

The Independent UK

Attorney general denies whistleblower claims of interference in Hunter Biden investigation

Attorney General Merrick Garland is pushing back against claims that the Justice Department interfered with the investigation into President Joe Biden's son, Hunter Biden

The Independent UK

GOP releases whistleblower testimonies from ex-IRS agents in Hunter Biden case

House Republicans have released testimony from two IRS whistleblowers who allege that the Justice Department interfered with their yearslong investigation into President Joe Biden’s son, Hunter

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