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The Latest Breaking News from IRS

Can Trump strip Harvard of its charitable status? Scholars of nonprofit law and accounting describe the obstacles in his way

President Donald Trump has repeatedly threatened to revoke Harvard University’s tax-exempt status, and some media outlets have reported that the Internal Revenue Service is taking steps in that direction.

The Conversation

Big Tax Deduction Increase Proposed for Those Over Age 65

A new bipartisan bill and a tax plan from the House GOP could mean bigger retirement tax savings to offset taxes on Social Security and high prices.

Kiplinger

IRS workers forced into ‘mandatory overtime’ to deal with flagged returns after DOGE cuts

Processing center employees ordered to work weekends this month to tackle deluge of returns flagged as containing errors amid widespread staff cuts

The Independent UK

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DOGE cuts at IRS are ‘Christmas coming early’ for tax cheats, policy analyst says

Staff reductions have eliminated one-third of the of the IRS staff who collect tax money—with more on the way.

Fortune

New HSA Contribution Limits Are Set for 2026: What to Know Now

The IRS says Health Savings Account contribution limits will increase again next year due to inflation.

Kiplinger

Credit Suisse admits scheme to hide more than $4 billion in offshore accounts for ultra-rich Americans

Credit Suisse’s services unit agreed to pay $511 million in fines, penalties, restitution, and forfeitures, authorities said.

Fortune

Ask the Editor, May 4 — Questions on Tax Deductions, Losses

In our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter Editor, answers readers' questions on tax deductions and losses.

Kiplinger

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As the Market Seesaws, Should You Touch Your 401(K)?

401(k)s are built for the long haul. Reacting emotionally in the short term can do serious long-term damage to your retirement plans.

Kiplinger

The IRS is in chaos

DOGE, departures, data agreements and more are creating havoc at the IRS.

Kiplinger

The IRS Says Your Digital Life Is Not Your Property

A Supreme Court case could determine whether Americans own their digital data—or whether the government can take that information without a warrant.

Reason

Donald Trump renews threats against Harvard University’s tax exempt status

Democrats have called for an investigation into whether the president is pressuring the IRS to strip Harvard’s status.

Al Jazeera

Trump repeats legally dubious threat to ‘take away’ Harvard’s tax-exempt status

Federal law prohibits president from directing or influencing the IRS to investigate or audit an organization

The Guardian - US

Beware of ‘check-washing’ scams—a crook stole $310,000 from one entrepreneur and the banks responsible won’t help

In 2023, nearly 80%, or $21.1 billion, of global check fraud occurred in the Americas

Fortune

USPS Is Using Data From Mail And Packages To Help DHS Locate And Deport Migrants

The law enforcement arm of USOS has joined a group of federal agencies, like the IRS, to cooperate with the Trump administration's mass deportation plans.

Latin Times

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The Independent UK

Iowa immigrant group is alarmed by a state lawmaker's demand for confidential information

A state lawmaker has demanded that an Iowa immigrant rights organization turn over private details about the nonprofit’s legal clients, donors and list of members

Salon

Trump takes a page from Nixon's playbook

"There's way too much retribution," Karl Rove said ahead of President Donald Trump's first 100 days in office

The Guardian - US

The uniting theme of Trump’s presidency? Ineptitude

From deportations to human rights to the economy, the president’s actions have resulted in mayhem. Here’s a sampling

Latin Times

DOGE's Cost-Cutting Efforts Could Cost US Taxpayers Big Time: Report

DOGE's cost-cutting efforts under Elon Musk may end up costing U.S. taxpayers billions, experts warn.

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PC Gamer

Trump-appointed lawyer threatens to revoke Wikipedia's non-profit status, putting the online encyclopedia in jeopardy

Is Wikipedia spreading propaganda? Don't ask Ed Martin

Fortune

DOGE’s mass federal workforce cuts may cost taxpayers $135 billion this fiscal year alone

Elon Musk’s efforts to slash federal spending are costing the government in lost productivity and tax revenue, workforce and policy experts claim.

The Guardian - US

Chaos unleashed by Musk’s Doge is starting to wane – what does that mean?

Tech billionaire plans to hang up the chainsaw as he steps away from ‘efficiency’ role amid Tesla sales slump

Latin Times

Musk Called Treasury Secretary Bessent a 'Soros Agent' During White House Clash

Billionaire Elon Musk called Treasury Secretary Scott Bessent a "Soros agent" as the two fought in the White House

The Independent UK

Elon Musk and Scott Bessent had a ‘very loud’ shouting match in the West Wing: ‘two billionaire, middle-aged men thinking it was WWE’

The two billionaires have a testy relationship dating back to the post-election transition period

Latin Times

Musk Reportedly Engaged In New Shouting Match With Top Trump Cabinet Member: 'It Was Quite a Scene'

Elon Musk reportedly engaged in a loud confrontation with Treasury Secretary Scott Bessent in the White House, Axios reported

The Independent UK

This could be the last year you filed your taxes for free

Trump administration officials hinted at cancelling IRS Direct File program

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