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The Latest Breaking News from IRS

Worried Your Heirs Will Blow Their Inheritance? Make a Plan

Ensuring that younger generations don’t waste the wealth you’ve worked so hard to build starts with careful estate and tax planning.

Kiplinger

The Do’s and Don’ts of Inherited IRAs

When you inherit an IRA, you likely have a lot of questions. Do you need to take RMDs? When? How long do you have before the account must be cleaned out?

Kiplinger

The IRS is Ramping up Tax Audits

Wealthy individuals, large corporations and partnerships are all audit targets, thanks in large part to the IRS's multi-billion dollar windfall.

Kiplinger

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Three Reasons It May Look Like You Love the IRS More Than Your Family

Consider these strategies to avoid overpaying taxes on your hard-earned money. Your family will thank you for it. (And you’ll thank yourself.)

Kiplinger

Revealed: the extremist Maga lobbying group driving far-right Republican policies

Documents show the Conservative Partnership Institute is pushing its far-right agenda at events involving GOP members

The Guardian - US

Brazil, France, Spain, Germany and S. Africa Push To Tax Billionaires 2% Yearly; US Says No

Yellen announces US opposition to global wealth tax, despite support from Brazil, France, and others.

International Business Times UK

Investing in Gold? Forget GLD, Buy PHYS Instead

Many groups are piling into gold, including central banks and sovereign governments. Gold has also become very popular among individual Chinese investors and family offices that cater to the global rich. Most of these investors choose physical gold. That's what famed investor Michael Burry did. But instead of the GLD…

Barchart

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“What Did Your Spouse Hide From You Until After You Were Already Married?” (40 Answers)

Someone asked women “What did your spouse hide from you until after you were already married?” and people shared both dark and wholesome stories. The post “What Did Your Spouse Hide From You Until After You Were Already Married?” (40 Answers) first appeared on Bored Panda.

Bored Panda

Congressional Republicans Launch 'Fishing Expedition' Against Progressive, Jewish, and Palestinian Nonprofits

The House Oversight and Education committees are investigating the sources of “malign influence” behind campus protests. They’re using tactics Republicans used to hate.

Reason

American families are struggling with debt. When it gets forgiven, the tax code treats it like extra income

Turning American families’ forgiven debt into taxable income is simply unfair, and Americans are worried about the fairness of the federal tax code.

Fortune

IRS Direct File Will Be Permanent, Competing With TurboTax, H&R Block

The IRS says it will bring Direct File back next tax season.

Kiplinger

Income Tax Department officer duped of ₹48.9K in online reward points fraud

A 48-year-old IRS officer with the Income Tax Department lost ₹48,902 to an online reward points fraud.

The Hindu

'Gone in 12 Seconds': How MIT Students Stole $25M Crypto in a US Criminal Case First

MIT grads arrested for $25 million crypto heist in a novel scheme. Feds say it's the first of its kind and vow to crack down on crypto fraud.

International Business Times UK

Anti-Defamation League ramps up lobbying to promote controversial definition of antisemitism

Federal records show a dramatic spending increase that critics say is primarily intended to punish criticism of Israel and target pro-Palestinian groups

The Guardian - US

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Reason

Can Nonprofits That Help Organize Protests Lose Their Tax Exemptions?

Not because of the viewpoints they express—but yes if they engage in systematic illegal conduct.

Roll Call

Senate GOP bill seeks to protect anonymous nonprofit donors - Roll Call

Sens. Todd Young and James Lankford will introduce a bill Tuesday that would increase penalties for revealing anonymous donor information.

Kiplinger

Naming Beneficiaries for Inherited IRAs: What You Need to Know

The rules for how to handle an inherited IRA differ depending on the beneficiary, and you should also consider the tax implications of required minimum distributions (RMDs).

Top News

IRS Inquiry Reveals Potential 0 Million Tax Bill For Trump

IRS investigation reveals potential 0 million tax bill for Trump over Chicago tower losses.

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Salon

Trump may owe $100m to IRS

Trump, who dodged taxes for a decade, double-dipped while claiming losses on his Chicago tower

Top News

Biden Vs. Trump: Contrasting Tax Plans For Economic Growth

Debate over tax policies between Biden and Republicans, focusing on fairness, economic growth, and national debt implications.

Kiplinger

File By May 17 for $1 Billion in Unclaimed IRS Tax Refunds

Unclaimed tax refunds from years ago are waiting for millions who might not know it. Are you one of them?

Kiplinger

Estate Planning Checklist: 13 Smart Moves

Follow this estate planning checklist for you (and your heirs) to hold on to more of your hard-earned money.

Kiplinger

Guide to Military Benefits for Retirement, Pay and Savings

Benefits for those who serve in the U.S. military can sometimes be complex and confusing. Here’s what to know about how to optimize some of them.

Top News

Debate Over Tightening Restrictions On Donor-Advised Funds

Deliberations on enhancing regulations for donor-advised funds to ensure transparency and accountability in charitable giving.

Top News

Trump Attorney Confirms Cohen Payments Disclosed To IRS

Trump attorney questions disclosure of payments to Michael Cohen in 2017, highlighting importance of financial record-keeping and tax compliance.

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