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The Latest Breaking News from IRS

Gift and Estate Tax vs Capital Gains Tax: Which Is Less?

Capital gains tax rates might be lower than the gift and estate tax rate, but how you handle your estate and whether you use a trust can make a big difference in taxes owed.

Kiplinger

Billionaires hate Kamala Harris’s novel ‘unrealized’ capital gains tax proposal. Here’s how it would work

If the plan were to be enacted, folks like Elon Musk, Mark Zuckerberg, and Jeff Bezos could be writing one-time checks for tens of billions.

Fortune

What we know about Kamala Harris’s tax plans

Harris supports higher rates for corporations and wealthiest Americans to raise more than $5 trillion over a decade

The Independent UK

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Is a 401(k) Worth It? Here are the Pros and Cons

A 401(k) is worth it for most people, but are you one of them? There are seven pros and four cons to consider.

Kiplinger

Family calls for release of U.S. Special Agent wrongfully held in Nigerian prison

Tigran Gambaryan, a highly respected former IRS special agent who now works for Binance, is being denied medical help and legal counsel by Nigeria.

Fortune

IRS: How to Get a 401(k) Match for Your Student Loan Payment

Those with 401(k), 403(b), and other savings plans might get relief through their employer-provided retirement account.

Kiplinger

Harris and Trump's 'no taxes on tips' proposal is the rare idea that’s both unifying and unfair

Exempting yet more income from taxation would worsen a tax code that already treats people with the same level of income differently.

Fortune

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Understand These Hobby Loss Rules to Reduce IRS Audit Risks

The IRS will scrutinize tax returns reporting large losses from any activity that sounds like a hobby. Here is what you need to know.

Kiplinger

Three Strategies to Cut Your Taxes in Retirement

All that money in your tax-deferred retirement accounts? Uncle Sam is going to want his cut, so here's how to prepare for that.

Kiplinger

Kamala Harris Golf Tax and Unrealized Gains? What You Really Need to Know

There's a lot of social media talk about capital gains taxes and a golf tax. How much is real?

Kiplinger

Child Tax Credit: How Much Is It for 2024 and 2025?

The refundable amount of this tax break is slightly higher for the 2024 tax filing season. Here’s what you need to know.

Kiplinger

IRS Urges Employers to Participate in ERC Voluntary Disclosure Program

Businesses can fix ERC claims with the IRS at a lower cost, but only for a limited time.

Kiplinger

529 Plan Contribution Limits for 2025

Each state sets 529 plan contribution limits, which range from $235,000 to $575,000.

Kiplinger

How Many Retirement ‘Tax Buckets’ Do You Have?

Diversifying retirement account types can lead to more significant and flexible tax benefits.

Kiplinger

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news in one place.

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Kiplinger

Fun Things to Do in Retirement With Added Tax Benefits

What should I do first when I retire? Well, it wouldn’t hurt to save a little on your taxes.

Salon

Trump fingerprints all over Project 2025

Project 2025 is part of a larger network of right-wing groups gearing up for a second Trump term for years

Dynamite News

J&K: Major pre-poll reshuffle - 89 IAS, JKAS officers transferred

J&K government has announced the transfer and posting of 89 IAS and JKAS officers. Read further on Dynamite News:

TechRadar

The IRS has loads of legacy IT — but it's not equipped to replace it

IRS advised to re-establish its office for decommissioning outdated IT systems.

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Reason

Carving Out a Tax Cut Just for Tips Doesn't Make More Sense When Kamala Harris Does It

Exempting tips from the federal income tax would add to the deficit and unfairly penalize nontipped workers. It's a bad idea no matter who is pitching it.

Kiplinger

IRS Restarts Processing of Some ERC Refunds: What to Know

Some businesses may receive employee retention tax credit payments as early as September.

Fortune

Jamie Dimon wants to hit millionaires with 'Buffett Rule' to tackle national debt

'The Buffett Rule' was coined after the Berkshire Hathaway CEO highlighted he pays the same percentage share of income tax as his secretary Debbie Bosanek.

Kiplinger

What Is an IRA and Which Type is Best for You?

An Individual Retirement Account (IRA) is a tax-advantaged savings account to help you boost your nest egg. Learn which type of IRA is best for you.

Kiplinger

Some States Won’t Participate in IRS Direct File for 2025

You may not be able to use the new IRS tax filing system if your state doesn't allow it. Plus, an incoming Congress could eventually bring an end to the program.

Kiplinger

Should Tax on Tips Stay or Go Under Trump?

As the No Tax on Tips Act gains momentum, economists warn of potential pitfalls. Will not taxing tips help or hurt workers?

Fortune

Coca-Cola is going reverse Yankee by selling €1 billion of Euro debt to cover a potential tax charge

The beverage company has been in a long-drawn dispute with tax authorities in the U.S. over a $16 billion charge that it could possibly owe.

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