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The Latest Breaking News from IRS

IRS Unveils Higher Standard Deductions And New Tax Brackets For 2025

In addition to higher standard deductions, the IRS has proposed several other significant changes for 2025. Notable adjustments include updates to long-term capital gains brackets, estate and gift tax exemption limits, and eligibility criteria for the child tax credit.

Latin Times

IRS Announces Notable Changes Coming For Filing Taxes

Notable adjustments include updates to long-term capital gains brackets, estate and gift tax exemption limits and eligibility criteria for the child tax credit.

International Business Times

Limited Liability Companies (LLCs): How Assets Are Protected

An LLC can prevent problems with assets within the LLC from affecting assets outside the LLC, but there are limits to asset protection.

Kiplinger

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IRS ups typical tax deductions for 2025 - here is what it means for your bill from Uncle Sam

U.S. taxpayers will again see higher standard deductions for 2025, allowing them to shield more of their money from taxation on future returns

The Independent UK

2025 Family Tax Credits: Four IRS Changes That Can Save You Money

Explore the new IRS-adjusted amounts for popular family tax credits.

Kiplinger

The 2025 Standard Deduction Is Here

What is the standard deduction for your filing status in 2025?

Kiplinger

New 2025 Income Tax Brackets Are Set

The IRS has adjusted federal income tax bracket ranges for the 2025 tax year to account for inflation. Here's what you need to know now.

Kiplinger

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The Religious Vote Is Waning—And That Could Spell Trouble for Trump

As millions of Christians plan to sit out the election, church leaders face tough choices about how to inspire their congregations without violating the law.

Reason

Border 911: The Misinformation Network Profiting Off the ‘Invasion’ Narrative

Dark money and charity organizations led by former intelligence officers and ex-feds have been spreading propaganda and laying the groundwork for presidential election challenges.

Texas Observer

Want to Give Money to Your Adult Children? 10 Things You Should Know

It’s less taxing to give money to your adult children than you might think. A good plan can help you avoid certain pitfalls — and drama.

Kiplinger

Potential Ripple Effects of Taxing Unrealized Capital Gains

The proposed tax on unrealized gains would be limited to those with a net worth above $100 million, but some see a broad impact on markets and businesses.

Kiplinger

The Satanic Temple is taking on the Christian right. It’s fun to watch

Recognized as a religion by the IRS, the group uses the religious right’s tactics, and their victories, against them

The Guardian - US

Here's How to Find Your Way Out of the Inherited IRA Maze

To navigate complex rules on inherited IRAs and RMDs, start by breaking down key terms and common scenarios. A clearer picture of your next steps will emerge.

Kiplinger

Property Tax Relief on the Georgia Ballot as Early Voting Surges

Georgia voters will decide on an important measure that could cap property tax increases in the state.

Kiplinger

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Al Jazeera

AI helping US Treasury bust fraudsters, saving billions

The technology helped recover $1.3bn in tax fraud in the 2024 fiscal year, says the Treasury.

Kiplinger

Three Tax Reasons to Retire in Panama in 2025

With low property taxes and tax-free foreign income, this tropical paradise could make you rethink retirement as a U.S. expat.

International Business Times

Coca-Cola 'Zero-Sugar' Lemonade Found To Contain Full Sugar

The FDA's recall notice cited that the cans of regular Minute Maid Lemonade were incorrectly packed into cartons labeled Minute Maid Zero Sugar Lemonade.

The Guardian - US

The cannabis industry is awaiting a legal green light, but can businesses survive?

Legal gray area surrounding the drug makes it difficult to prepare next steps, with rescheduling a perpetual threat

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Kiplinger

Is the IRS Coming for Your Gambling Winnings?

The latest tax audit on unreported income points to high-income, high-wealth gamblers. Could

Roll Call

Tax veterans see protracted standoff over expiring breaks - Roll Call

The growing possibility of divided government next year has some predicting the 2025 tax fight could stretch into 2026 and beyond.

Kiplinger

When Does a Nest Egg Become a Ticking Tax Bomb?

Retirement savers with big bucks in traditional IRAs and pretax 401(k)s could face huge tax bills when RMDs kick in. One potential solution? A Roth 401(k).

The Independent UK

Changing OpenAI's nonprofit structure would raise questions about its future

The artificial intelligence maker OpenAI may face a costly and inconvenient reckoning with its nonprofit origins even as its valuation recently exploded to $157 billion

The Independent UK

Documents show OpenAI's long journey from nonprofit to $157B valued company

Back in 2016, the artificial intelligence maker OpenAI had just incorporated as a nonprofit and applied to the Internal Revenue Service for tax-exempt status

Kiplinger

Five Ways Your Boss Can Step Up in the Aftermath of a Hurricane

The IRS offers some tax advantages for employers that financially help their employees during federally declared disasters.

Kiplinger

How to Open a 401(k): Five Rules to Follow

Whether you're starting a new job or have never opened a 401(k) account, it's time! Here's how to open an account in five steps.

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