The Latest Breaking News from IRS

Selling a home later in life often feels like a fresh start, whether you’re downsizing, relocating, or cashing in on years of appreciation. But many homeowners are caught off guard by the financial consequences that come with such a big transaction. The IRS has specific rules, exemptions, and hidden details…

Turning 70½ brings with it new retirement planning opportunities, especially when it comes to required minimum distributions (RMDs). For many retirees, these withdrawals can significantly increase taxable income, pushing them into higher brackets or raising Medicare costs. Fortunately, qualified charitable distributions at 70½ provide a smart way to give to…

So, you’ve been diligently stashing cash into your IRA or 401(k), dreaming of sandy beaches and endless rounds of golf. You’re playing the long game, building that nest egg with discipline and foresight.

Digital advisors, also known as robo-advisors, have made investing easier and more accessible than ever. With low fees and automated portfolio management, they seem like the perfect solution for hands-off investors. But behind the convenience, digital advisors can sometimes trigger unexpected tax consequences. If you’re not paying attention, these surprises…

Millions of Americans are freelancing. The extra income is great, but many gig workers get a rude awakening come tax season. Here's how to avoid that.

Filing your own taxes can save money and give you more control over your finances. But do-it-yourself, or DIY, tax filing comes with risks that can lead to costly errors. With tax laws changing and forms getting more complex, even small mistakes can trigger audits, missed refunds, or penalties. Understanding…

Retirement is the perfect time to update your estate plan—here are 5 smart changes retirees should make to protect assets and secure their legacy.

Gift taxes might sound like something only the ultra-wealthy have to worry about, but the reality is a bit different. The IRS keeps a close eye on large gifts, and certain financial moves can put you on their radar. Ignoring the rules or making mistakes with gift tax reporting could…

The Internal Revenue Service violated its own policies when it fired thousands of probationary employees earlier this year at the direction of the Trump administration, the Treasury Department's inspector general said in a report released last week.

Could the Social Security 90th anniversary be a good time to revisit old tax thresholds?

President Donald Trump on Tuesday offered his assurances that U.S. troops would not be sent to Ukraine to defend against Russia, after seeming to leave open the possibility the day before