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The Latest Breaking News from IRS

Michelle Yeoh, martial arts and the multiverse: inside the year’s wildest movie

Genre-bending hit Everything Everywhere All at Once is being called 2022’s first genuine masterpiece, a hugely inventive fantasy inspired by The Matrix

The Guardian - US

What Happens If I Don’t File Taxes?

Filing taxes might not be at the top of your to-do list, but you should strongly consider it if you earn income—no matter how much or how little.

The Street

Where's My Tax Refund? The IRS Refund Timetable Explained

Here's what happens when you press that green button and transmit your tax return, and when you might anticipate an expected refund.

The Street

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Guide to Unemployment and Taxes

The IRS considers unemployment compensation to be taxable income—which you must report on your federal tax return.

The Street

Tax Deductions for Rental Property Depreciation

When you rent property to others, you must report the rent as income on your taxes. But you can deduct, or subtract, your rental expenses.

The Street

Guide to Schedule D: Capital Gains and Losses

The Schedule D form is what most people use to report capital gains and losses that result from the sale or trade of certain property during the year.

The Street

What Is IRS Form 5498: IRA Contributions Information?

Form 5498 reports your IRA contributions to the IRS. Your IRA trustee or issuer - not you - is required to file this form with the IRS by May 31.

The Street

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Thieves hit on a new scam: Synthetic identity fraud

In fall 2020, 43-year-old Adam Arena and a dozen suspected co-conspirators were indicted in New York on charges of trying to swindle banks out of more than $1 million through a scheme known as “synthetic identity fraud.”

Tribune News Service

Real estate Q&A: As a foreign national selling my condo, do a portion of the sales need to go to the IRS?

Q: I am a foreign national who owns a condo in Florida that I want to sell. I am being told that a portion of the sales price needs to be sent to the IRS at the closing. Is this true? And if so, how can I get it back?…

Tribune News Service

Dependent Tax Deduction: Tax Exemptions and Deductions for Families

Families can save more on their taxes than a single person. We'll help you understand which family-related deductions will benefit you most.

The Street

Are Medical Expenses Tax Deductible?

Are medical expenses tax-deductible? Learn more about what kinds of medical spending the IRS allows taxpayers to claim when they file.

The Street

Filing Your Taxes Late

Learn more about filing a tax extension, late payment and late filing penalties, and what to do if you can't pay your taxes.

The Street

Standard Deduction vs. Itemized Deductions: Which Is Better?

It might seem easier to take the standard deduction rather than itemize your deductions, but you should weigh this question carefully.

The Street

Taxable Income vs. Nontaxable Income: What You Should Know

Knowing what to claim as taxable and nontaxable income can reduce your tax liability. Here's what you should know.

The Street

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The Street

Hackers Are Targeting Taxpayers. Here's How to Protect Your Data

Tax season is very profitable for hackers.

Roll Call

Obama and Biden reunite to tout signature health care law - Roll Call

President Obama returned to the White House Tuesday to celebrate the Affordable Care Act with his former vice president, Joe Biden.

The Street

Hackers Want To Steal Your Tax Refund

Tax season is very profitable for hackers who can steal both your refund and your personal data.

Reuters

Exclusive-U.S. suspends tax information exchange with Russian authorities

The U.S. Internal Revenue Service has suspended information exchanges with Russia's tax authorities in a bid to hamper Moscow's ability to collect taxes and fund its war against Ukraine, the Treasury Department told Reuters on Tuesday.

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The Independent UK

Stacey Abrams reaches millionaire status before 2nd campaign

Georgia Democrat Stacey Abrams has become a millionaire

Tribune News Service

Commentary: The IRS doesn’t need more workers, it needs less work

Tax day is approaching, and a shorthanded Internal Revenue Service just got a $675 million boost (6%) from Congress and the president. But money won’t fix this problem. We can solve it—and maybe some other problems—with tax reform.

Chicago Sun-Times

‘Everything Everywhere All at Once’ a playful skip through the multiverses of hot-dog fingers and cooking raccoons

Rarely has a trip to the IRS yielded such cosmic, metaphysical digressions as it does in this antic movie with the spin cycle set to supercollider.

Los Angeles Times

Michael Hiltzik: The FTC sues TurboTax for trying to keep you from filing your taxes for free

For what seems like forever, Americans have been asking why it's so damn hard — and expensive — to file their taxes.

Tribune News Service

Tax-loss harvesting: How to turn investment losses into money-saving tax breaks

Kiss your poor investment goodbye and get a tax break for doing it – that’s the idea behind tax-loss harvesting. It can be a smart move to make if you’re holding on to an underperforming stock or fund and you’re looking offset gains realized from selling another one of your…

McClatchy Washington Bureau

The IRS promises your tax refund within three weeks. Here are some exceptions

WASHINGTON — More people are getting bigger federal tax refunds this year, but not everyone will be getting their refund within the 21 days the Internal Revenue Service promised.

Mic

A procrastinator’s guide to filing your taxes (late)

April 18 doesn't have to be scary.

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People

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