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The Latest Breaking News from IRS

Elon Musk's lawsuit could be the least of OpenAI's problems—its planned conversion will cost a fortune

The price tag for shedding its nonprofit shell could run into the tens of billions of dollars.

Fortune

House Votes To Let Treasury Kill Politically Disfavored Nonprofits

Administrative power over financial matters is a dangerous weapon for bypassing due process.

Reason

Did Donald Trump Bribe Pam Bondi With $25K In 2013 To Not Sue Trump University?

Donald Trump's $25,000 donation to Pam Bondi in 2013 raised allegations it influenced her decision not to sue Trump University for fraud.

International Business Times UK

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“They’re Too Smart”: 62 Of The Most Obvious Scams That People Still Fall For

If it sounds too good to be true, it probably is! The post “They’re Too Smart”: 62 Of The Most Obvious Scams That People Still Fall For first appeared on Bored Panda.

Bored Panda

Tax-exempt crackdown measure passes despite Democrat defections - Roll Call

Democratic support evaporated for a bill to give the IRS greater authority to revoke tax-exempt status of nonprofits supporting terrorist organizations.

Roll Call

5 FAQs About 529 College Savings Plans

Thanks to recent policy changes, families have more options for what to do with money sitting in tax-advantaged 529 accounts.

Kiplinger

How to Apply for Social Security Online or In Person at Any Age

There are two ways to apply for Social Security retirement benefits. When you apply for benefits has no impact on how you file to claim your benefits.

Kiplinger

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Viral posts claim stimulus checks are on the way. Here’s what you should know

False rumor comes after exit polls revealed the economy was the biggest issue to almost one third of voters

The Independent UK

Look out TurboTax — Trump government efficiency team is reportedly considering a free tax-filing app

A free tax-filing app is under consideration from the proposed Department of Government Efficiency.

TechRadar

Tax Credit vs. Tax Deduction: What’s the Difference?

Your guide to tax deductions and credits, how the IRS treats them differently, and how they impact your tax bill.

Kiplinger

Premium Tax Credit: Are You Eligible For This Health Insurance Tax Break?

The tax credit can help qualifying individuals pay for coverage from the Affordable Care Act’s health insurance marketplace.

Kiplinger

Retire Before 59.5: The IRS Rule to Unlock Your IRA or 401(k) Cash Penalty-Free

This early retirement hack lets you tap your retirement savings without tax penalties. But you must plan well.

Kiplinger

Estate Planning: How Does the Basis Step-Up Rule Work?

The step-up in basis, one of the most powerful tools in estate and tax planning, can make a huge difference in capital gains taxes owed.

Kiplinger

Understanding Virtual Currency: How It Works Across Digital Platforms

Virtual currencies are digital tokens used across many online platforms. According to the IRS, virtual currency is a digital representation of value that serves as a unit of account, a store of value, and a medium of exchange.

inkl

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Kiplinger

Three Often-Overlooked Ways to Cut Your Tax Bill Now

Act before 2024 ends to set yourself up for potential savings when it's time to file your tax return.

Kiplinger

FSA Contribution Limits Are Higher for 2025

A flexible spending account allows you to build tax-free savings for certain medical expenses.

International Business Times UK

Elon Musk Says He's 'The Largest Individual Taxpayer In History' After $10B Payment: 'I Thought The IRS Would Send A Trophy'

The average true tax rate for the ultra-rich, including Elon Musk, is much lower than those less affluent as they leverage a host of tax-savings strategies to reduce their reported annual income despite skyrocketing net-worth growth

The Guardian - US

‘Partisan politics’: how efforts to overturn the Johnson amendment could upend campaign finance

Experts say undoing the provision, which bans churches from campaign donations, would open a flow of dark money

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news in one place.

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Reason

Abolish the IRS—and the Income Tax Too

Americans spent an estimated $133 billion and 6.5 billion hours filing their tax returns in 2024.

Kiplinger

New Rules for Retirement Savings Taking Effect in 2025

Many employees will be able to contribute more money to tax-advantaged workplace plans.

Kiplinger

Florida Tax Deadline Extension for 2025: What You Need to Know

If you live in Florida the IRS has extended your federal income tax deadlines.

Kiplinger

IRS: Here’s How to Recover Your Tax Records After a Natural Disaster

Your tax documents can help you get federal relief faster, the IRS says.

Kiplinger

Tax Changes are on Trump's 2025 To-Do List

Donald Trump campaigned on lower taxes and, as president, he will push Congress to pass big tax changes next year

Top News

Nanny Pleads Guilty In Suburban Virginia Double Homicide Case

A nanny in Virginia pleads guilty to manslaughter in a shocking double homicide case involving her employer and another man. Tragic events unfold in the Ba...

Kiplinger

12 Retirement Moves to Make Before the Year Ends

From applying for Social Security and donating to charity to maximizing your savings accounts, here are 12 retirement moves you can still make in 2025

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