The Latest Breaking News from IRS

How Supreme Court decisions could change your bank account.

A new federal tax break promises to put more money in the pockets of tipped workers, but some in the service industry say they're cautious about celebrating just yet.

Credit cards can be powerful financial tools when used wisely, offering rewards, convenience, and fraud protection. However, they can also be dangerous when swiped for the wrong purchases. Many people fall into the trap of using credit for items that quickly lead to high-interest debt and financial stress. Knowing which…

Few things create more anxiety than receiving unexpected mail from the IRS. Even if you are confident your tax return was accurate and submitted on time, certain notices can indicate potential problems. These letters often require a timely response and may involve additional documentation, payments, or explanations. Knowing the meaning…

Waiting for a refund can be more stressful than you expect. Whether it’s from the IRS, a retailer, or a service provider, scary refund delays can actually cost you money. Not only do you lose access to your cash, but you may also face missed opportunities or extra expenses. Many…

Your financial history is more public than you might think. Many details about your money life are available for anyone to access through public records....

For many older couples, filing a joint tax return seems like the most logical choice. It often comes with a lower overall tax rate and simplified paperwork. However, the decision can also trigger an unpleasant surprise — certain valuable tax credits may shrink or vanish entirely. Understanding why some senior…

Trusts have long been a reliable tool for managing assets, reducing taxes, and protecting wealth for future generations. However, the IRS is increasing its focus on trust reporting and compliance, meaning more trust arrangements are being reviewed than in previous years. For trustees, beneficiaries, and grantors, this shift can have…

Picture this: a sparkling diamond necklace passed down from grandma, wrapped in tissue paper, handed over at a birthday party. Everyone’s beaming, the champagne’s flowing—then the IRS shows up. Not literally, of course, but financially speaking, they might as well be. In 2025, a massive shift in federal tax law…