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The Latest Breaking News from IRS

7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth

Many wealthy people are super skilled at using all the tax loopholes available to them to minimize their taxes and maximize their wealth.

GOBankingRates

Tax Advice That No Longer Applies in 2025

Tax rules change all the time. What worked last year might not work this year. If you’re still following old tax advice, you could be missing out or even making mistakes. The tax code for 2025 looks different from what you might remember. Some tips that used to save you…

The Free Financial Advisor

“One of Eric Clapton’s guitars went for half a million dollars. I was, as I often am, in trouble with the IRS. I thought, ‘This is probably the time’”: Todd Rundgren’s love affair with Clapton’s Fool SG, and how he moved on after selling it

He rescued it from peeling-paint hell, restored it after the headstock snapped off, but was never fully happy with the psychedelic Gibson. Then a fan offered a happily-ever-after solution

Guitar World

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3 Things To Do if You Got an IRS Warning Letter About Your Crypto Activity

If you're a cryptocurrency investor, you might soon hear from Uncle Sam in the form of an IRS letter detailing your tax obligations. Read Next: 13 Cheap Cryptocurrencies With the Highest Potential...

GOBankingRates

IRS says churches may endorse political candidates despite a decades-old federal statute barring them from doing that

Churches and other houses of worship can endorse political candidates without risking the loss of their tax-exempt status, the Internal Revenue Service said in a legal document the tax-collection agency filed on July 7, 2025. This guidance is at odds with a law Congress passed more than 70 years ago…

The Conversation

The EV Tax Credit Is Going Away. Here’s What You Need To Know

Which EVs qualify for the federal tax credit? When is the program ending? All your burning questions, answered.

InsideEVs

Three Estate Planning Documents a Business Owner Can't Afford to Skip

A business owner's estate plan should protect the company and its employees as well as the entrepreneur's heirs. These three documents are critical.

Kiplinger

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10 People Who Can Legally Access Your Bank Accounts Without Your Consent

The idea of a private, impenetrable bank account is comforting. However, this is ultimately a false assumption. The reality of who can access your money is far more complex. A surprising number of people and entities can legally access your funds, often without your direct permission. These situations aren’t based…

Budget and the Bees

10 Tax Write-Offs People Are Still Claiming Illegally

Tax season can be stressful, and everyone wants to save money wherever possible. But some people cross the line by claiming tax write-offs that aren’t allowed. The IRS is cracking down on these illegal deductions, and getting caught can result in significant fines or even criminal charges. Knowing which write-offs…

Clever Dude

‘The Most Patriotic Thing You Can Do Is Not Pay the IRS’ Says Grant Cardone as OBBBA Signed into Law — Here’s How Much You’ll Save

Grant Cardone’s outspoken criticism of the IRS reflects his long-standing advocacy for personal wealth, limited government, and financial independence.

Barchart

Religious leaders can pressure their congregations to support political candidates thanks to this IRS decision

The IRS just gave in.

We Got This Covered

7 Inheritance Clauses That Now Trigger Federal Review

Estate planning has grown more complex. Now, federal agencies pay closer attention to wealth transfers. Certain clauses in a will or trust can raise red flags. This may prompt scrutiny from the IRS or the Treasury Department. The government aims to prevent tax evasion and other illegal transfers. Let’s look…

Budget and the Bees

Churches can endorse political candidates and keep tax-exempt status, Trump’s IRS says

Critics fear the Trump administration is opening the floodgates for houses of worship to turn into political fundraising tools

The Independent UK

Why Selling Your Home for Cash Could Backfire in Retirement

For many retirees, the idea of selling their home for cash holds serious appeal. Quick closings, no repairs, and instant liquidity seem like the perfect...

Saving Advice

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Benzinga

Trump's Tax Bill Axes The $7,500 EV Credit: Here's How You Can Still Claim It

President Donald Trump officially signed the Big Beautiful Bill into law on the Fourth of July and it officially ended the lucrative $7,500 Federal EV credit on all EV purchases. However, the credit is still in effect till September 30. Here's how you can still claim it on your new…

Clever Dude

9 Tax-Time Decisions That Could Trigger a Surprise Audit

Tax season can feel stressful, even if you think you’ve done everything right. But some choices you make on your tax return can raise red flags with the IRS. No one wants to get that audit letter in the mail. Audits can take up your time, cost you money, and…

Bored Panda

18 People Share Popular Misconceptions About Their Jobs

Internet users share the professions and jobs they think are wrongfully hated and why we actually need them.

Clever Dude

“Good Deeds” That Could Lead to Tax Audits

Doing the right thing feels good. You donate to charity, help out a friend, or support your community. But sometimes, these “good deeds” can catch the attention of the IRS. Many people don’t realize that certain acts of generosity or support can trigger a tax audit. The IRS isn’t trying…

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Fortune

The Trump administration has begun garnishing wages of student loan borrowers in default. These are the benefits businesses can offer employees to help with their debt

“Business leaders can't ignore this financial pressure anymore.”

Fortune

Trump signs One Big Beautiful Bill: What that means for your money

The bill will have ripple effects throughout the economy—and Americans’ bank accounts.

Clever Dude

6 Times Retirees Accidentally Committed Fraud—Without Knowing It

Retirement is supposed to be a time of relaxation, not a legal minefield. But for many seniors, a simple oversight or misunderstanding can accidentally lead to retirement fraud. These unintentional missteps can involve Social Security, Medicare, taxes, or benefits, often without the retiree ever realizing they’ve broken a rule. Unfortunately,…

Kids Ain't Cheap

Tax Shock: 11 Unexpected Taxes for New Parents

123rf.com

The Free Financial Advisor

Side Hustles That Look Legit—Until They Break Tax Laws

Looking for ways to earn extra cash? Side hustles are everywhere, promising flexible hours and quick money. But while many side gigs seem harmless, some can get you into hot water with the IRS if you’re not careful. The line between a legit side hustle and a tax headache is…

International Business Times UK

Is Your Bank About to Drop an Unexpected $1,400? The Shadowy Origins of 2025's 'Fourth Stimulus' Rumours—And How to Tell a Windfall From a Scam

Rumours of a new $1,400 stimulus cheque are everywhere, but what's real? Discover what the IRS is actually sending in 2025 and how to avoid fraud.

Budget and the Bees

9 Bills That Become Unpayable the Moment Someone Dies

When a loved one passes away, the bereaved family is left to navigate a maze of emotional and financial responsibilities. One of the most pressing concerns is settling the deceased’s outstanding debts. While it’s a common misconception that all debts are inherited, the reality is more complex. Certain types of…

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