The Latest Breaking News from IRS

Health Savings Accounts (HSAs) can be a powerful financial tool, especially in retirement, but the fine print can leave even the most financially savvy seniors scratching their heads. Many older adults assume they fully understand how HSAs work—only to discover late-in-the-game rules that affect taxes, contributions, or withdrawals. If you’re…

When you think about your money, you probably imagine it’s safe in your bank account or investments. But what if you woke up one day and found your assets frozen—no warning, no chance to move your funds? Asset freezing isn’t just something that happens to criminals or big corporations. It…

DHS asked IRS to use confidential taxpayer information to confirm addresses of undocumented immigrants

Required Minimum Distributions (RMDs) can trip up even the most careful savers. If you have a traditional IRA, 401(k), or similar retirement account, you can’t...

Employee perks are often marketed as amazing benefits—free lunches, tuition assistance, or wellness stipends. But not all perks come without strings. In fact, some workplace extras can actually reduce or disqualify your eligibility for key retirement savings advantages. The fine print matters, especially when IRS rules are involved. To protect…

A trust can look like a neat shortcut to protect assets and make heirs’ lives easier. But some trusts carry hidden limits or trade-offs that hurt more than help. Knowing which vehicles are actually risky trusts lets you avoid bad surprises. Read these eight types and learn simple steps to…

President Donald Trump has reportedly removed Billy Long as Internal Revenue Service commissioner just two months after his Senate confirmation. Treasury Secretary Scott Bessent will serve as acting IRS commissioner while the administration searches for a permanent replacement.

Long is reportedly now in line for Iceland ambassador post as treasury chief Scott Bessent takes over as acting IRS head

The former Missouri congressman had next to no experience with tax law when he was tapped to lead the tax collection agency