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The Latest Breaking News from IRS

Prepare to Start Taking Money Out of Your Inherited IRA

The IRS has issued final rules on taking required distributions from an inherited IRA, and warns that the reprieve on penalties for adult children and other non-spouse beneficiaries who don't comply will end in 2025.

Kiplinger

After a rocky FAFSA rollout season, here's what you should know about the upcoming financial aid school year

From calling the financial aid office, to setting up a separate email, being prepared may be the best way to tackle FAFSA filing season

Latin Times

Yellen Says She's 'Probably Done' With Government Work Once Biden's Term Ends

The 78-year-old treasury secretary is the first woman to hold the job and that of Federal Reserve chair, and the first person to also chair the White House Council of Economic Advisers.

International Business Times

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Five Things About Annuities That May Surprise You

They're more varied, flexible and cost-effective than most people think, so don't let their complexity scare you off.

Kiplinger

IRS Collects IRS Collects Top News.3 Billion From Wealthy Tax Dodgers.3 Billion From Wealthy Tax Dodgers

IRS successfully collected IRS Collects Top News.3 Billion From Wealthy Tax Dodgers.3 billion from high-wealth tax dodgers, targeting millionaires and implementing new initiatives.

Top News

Treasury recovers $1.3 billion in unpaid taxes from high wealth tax dodgers

The IRS has collected $1.3 billion from high wealth tax dodgers since last fall, the agency says, crediting spending that has ramped up collection enforcement through President Joe Biden's signature climate, health care and tax package signed into law in 2022

The Independent UK

This 'ticking time bomb' could decimate your retirement savings

"The IRA is an IOU to the IRS" says the expert, who adds that the idea of a lower tax bracket in retirement is often a myth.

Fortune

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Shakira breaks silence on tax scandal, compares Spain's IRS to the Inquisition

The Colombian superstar wrote an open letter in the Spanish newspaper El Mundo. She accused the Spanish government of structural machismo

Latin Times

IRS Back Taxes Scam Call Steals Millions

IRS fakes are cheating thousands of people out of “overdue tax debt.” Are you next?

Kiplinger

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

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

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Kiplinger

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.

Fortune

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.

Kiplinger

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.

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news in one place.

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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 2025: How Much Is It and What's Changed?

The federal child tax credit amount will be bigger than expected. 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 just over $600,000..

Kiplinger

How Many Retirement ‘Tax Buckets’ Do You Have?

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

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

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