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The Latest Breaking News from IRS

Another Big IRS Tax Change for Online Sellers

Just in time for the holidays, the IRS is delaying a significant tax 1099-K reporting requirement for 2023.

Kiplinger

The IRS Won't Make Taxpayers Report Taylor Swift Ticket Sales (and Other Online Transactions Over $600)

For now, at least.

Reason

Tax-Deductible Black Friday Deals for the Self-Employed

Some Black Friday deals can help the self-employed save on business expenses and taxes.

Kiplinger

From analysis to the latest developments in health,
read the most diverse news in one place.

Does your income exceed IRS limits? Try a backdoor Roth IRA.

A backdoor Roth IRA is a legal tax strategy for converting traditional IRA money into a Roth IRA.

Fortune

IRS delays new online sellers’ tax reporting threshold - Roll Call

The IRS is postponing a lower threshold for reporting online sales and gig work by another year until 2024.

Roll Call

Americans Are Still Fleeing High-Tax States

Lower taxes create opportunities that draw even those not consciously considering tax rates.

Reason

What's the 2024 Estate Tax Exemption?

The estate tax exemption amount increased for 2024. Will your heirs escape a tax bill?

Kiplinger

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Senate Democrats stop GOP 'sneak attack' on House-passed Israel aid and IRS cut bill - Roll Call

A GOP senator staged what he described as a "sneak attack" to force a vote on a House-passed Israel aid bill that includes cuts to the IRS.

Roll Call

Child Tax Credit: How Much Is It for 2024?

What family tax credits and deductions will you qualify for in 2024? And how much are they worth?

Kiplinger

Republicans once again appeal to the rich in bid to cut IRS funds

This proposal to cut funds aimed at catching tax cheats echoes the Trump-Republican tax cuts that included the largest corporate tax cut in U.S. history, a suburban writer points out.

Chicago Sun-Times

Delaware Statutory Trust: A Viable Alternative to Debt Replacement

Using a DST would not only meet the debt replacement requirement in a 1031 exchange, but the DST could also help the investor diversify their portfolio.

Kiplinger

What Are the FSA Contribution Limits for 2024?

Flexible spending account (FSA) contribution limits for 2024 are higher than last year.

Kiplinger

Trump and SBF blamed their accountants – but your taxes are your responsibility

We business owners can’t just shrug and say it’s the accountant’s job – it’s our signature on those forms

The Guardian - US

HSA Accounts Pack A Powerful Long-Term Savings Punch For Millennials And Gen Z

HSAs are powerful tools to build your financial future. The younger you are and the sooner you start saving and investing, the more benefit HSAs can provide.

Investors Business Daily

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Kiplinger

Cash Balance Plans: Big Deductions and Big Retirement Savings

With the IRS focusing more on high-net-worth taxpayers, is it time for business owners to consider implementing cash balance plans?

Kiplinger

2024 Standard Deduction Amounts Are Here

What will the standard deduction for your filing status be in 2024?

Kiplinger

Income Tax Brackets for 2024 Are Set

The IRS has adjusted federal income tax bracket ranges for the 2024 tax year to account for inflation.

Kiplinger

How Does Being a Veteran Impact Your Taxes?

Veterans may be eligible for certain federal and state tax benefits.

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news in one place.

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Kiplinger

The Extra Standard Deduction for People Age 65 and Older

The extra standard deduction can help older adults reduce their taxable income.

The Independent UK

The IRS plan to let taxpayers digitally submit documents is ahead of schedule, Janet Yellen says

Taxpayers will be able to digitally submit all sorts of tax documents and other communications to the IRS months earlier than originally planned

The Texas Tribune

U.S. Rep. Michael McCaul dismisses House GOP Israel package as going nowhere

The bill is among the first major legislative packages by House Speaker Mike Johnson and has faced criticism for tying the aid to a cut to the IRS.

Cinemablend

The Story Behind Will Smith Landing The Fresh Prince of Bel-Air, And How Quincy Jones Was Involved

Let's discuss the wild story behind Will Smith landing The Fresh Prince of Bel-Air and how Quincy Jones was involved.

Reason

Battle Lines Drawn

Plus: House GOP defies White House on Israel funding, Gaza City surrounded, SBF guilty, Republican under indictment seeks reelection

The Guardian - US

Democrats grow nervous over Israel’s conduct in Gaza as Senate leader vows not to consider House security bill – as it happened

Republican-passed bill also faces Biden veto threat as more Democrats call for ceasefire

Investors Business Daily

The IRS Gave You A New Way To Shield $1,000 From Taxes

If paying taxes on your investments is something you like to put off as long as possible, the IRS just gave you a way to shield $1,000 more.

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