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The Latest Breaking News from IRS

6 Signs a Scam Is Targeting People Over 50

Scammers are cunning psychologists who know exactly how to exploit human emotions like fear, excitement, and trust. While anyone can fall victim to fraud, criminals often believe they have a higher success rate by targeting people over 50. They assume this demographic may have more savings, be less familiar with…

Budget and the Bees

7 Times Generosity Has Legal Consequences for Seniors

Generosity is a good thing. Most people want to help family, friends, or even strangers when they can. But for seniors, giving away money or assets can sometimes lead to legal trouble. The rules around gifts, taxes, and benefits are strict. One wrong move can cause problems that last for…

The Free Financial Advisor

Trump administration is reportedly looking to cut language services at the IRS

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The Independent UK

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IRS considers eliminating ability to file your taxes in language other than English

Attorney General Pam Bondi issued guidance to federal agencies earlier this month requiring them to plan for compliance with President Donald Trump’s executive order naming English as the country’s official language

The Independent UK

Her Husband Didn't Pay $82,000 In Taxes And Now The IRS Plans To Levy Their Home. She's Divorcing Him, But Still Wants To Bail Him Out

A woman from Montana called into “The Ramsey Show” with a story that left hosts Dave Ramsey and Rachel Cruze shocked and frustrated. She’s a nurse who had maintained a steady career while her husband pursued real estate full time. In 2021, they earned enough money that they owed $82,000…

Benzinga

No Capital Gains Tax on Home Sales Coming Soon? What You Need to Know

Capital gains taxes are back in the spotlight. This time, the chatter on Capitol Hill has to do with rising home prices.

Kiplinger

Her Husband Believes The Government Isn't Real And That They Don't Have To Pay Back Anything. So They Didn't And Now Owe $900K In Total

A woman named Mary from Charlotte, North Carolina, called into a recent episode of “The Ramsey Show,” hosted by George Kamel and Ken Coleman, to explain how her husband’s fringe beliefs nearly destroyed their finances, and may still ruin their future.

Benzinga

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7 Bank Transfers That Created Permanent Tax Problems

Transferring money between bank accounts seems simple. But some bank transfers can create tax problems that never go away. Many people don’t realize that a single transfer can trigger IRS scrutiny, penalties, or even criminal charges. If you’re not careful, you could end up with a permanent tax issue that…

Clever Dude

Five Ways Trump’s 2025 Tax Bill Could Boost Your Tax Refund (or Shrink It)

The tax code is changing again, and if you’re filing for 2025, Trump’s ‘big beautiful’ bill could mean a bigger refund next year, a smaller one, or something in between. Here are five ways the new law could impact your bottom line.

Kiplinger

8 Property Title Transfers That Trigger Federal Scrutiny

Property title transfers often feel like straightforward real estate procedures—but some can suddenly catch the eye of federal regulators. Whether due to tax, anti-money laundering laws, or mortgage clauses, certain transfers trigger more attention than others. Understanding the triggers helps you stay compliant and avoid costly surprises. Let’s explore 8…

Clever Dude

Lockheed Martin Under Intense Wall Street Pressure On Mounting Program Risks, Q2 Woes

Lockheed Martin Corp. (NYSE:LMT) faces growing pressure from Wall Street after delivering mixed second-quarter results and absorbing nearly $1.6 billion in charges across key segments.

Benzinga

IRS Budget Axed: $2.8 Billion Cut Sparks Partisan Clash

A House Appropriations subcommittee has passed legislation that would allocate $9.5 billion to the IRS for fiscal year 2026, marking a decrease of more than 20% compared to the agency's current $12.3 billion funding.

Benzinga

Social Security Garnishment Rules: What Retirees Need to Know

Do you know who can garnish your monthly Social Security benefit? Or take the funds from your bank account? Learn how to protect your benefits from creditors.

Kiplinger

Adam Schiff Says Your IRS Data May Have Been Breached — And Not By A Hacker, But Donald Trump: 'Consider This Your Warning'

Rep. Adam Schiff (D-Calif.) is urging Americans to treat their tax records as already compromised, blaming what he calls an "unprecedented" data grab engineered by President Donald Trump.

Benzinga

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International Business Times UK

Is a Fourth Stimulus Cheque Coming in 2025? Here's Why You Shouldn't Hold Your Breath

No fourth federal stimulus cheque approved for 2025 as economic indicators improve and Congress shows no plans for new direct relief payments.

Saving Advice

10 Retirement Scams Targeting People Over 60 Right Now

If you’re over 60, chances are you’ve become a target for fraudsters looking to exploit your hard-earned savings. As retirees settle into what should be...

Clever Dude

6 Financial Accounts That Should Never Be Jointly Held

Money brings people together. But it can also tear them apart faster than you’d imagine. While joint accounts seem like the natural next step in serious relationships, some financial accounts should remain strictly individual. The wrong choice here can cost you thousands of dollars, damage your credit score, and create…

Benzinga

Grant Cardone Explains Why The 401(k) Is 'The Biggest Scam' In Finance

Financial personality Grant Cardone has shared a bunch of hot takes throughout his career, including his latest tidbit about 401(k) and IRA plans. He refers to these retirement accounts as "the biggest scam" in finance.

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news in one place.

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Kiplinger

New Cap on Gambling Loss Deductions Begins Soon: What to Know Now

A gambling losses tax deduction cap in Trump’s “Big Beautiful Bill” is causing an uproar. Here’s what you need to know.

GOBankingRates

These 5 Tax Hacks Could Get You Audited

If someone is recommending an easy "tax hack," this should be a sign to stop and do your research, or get professional advice, before you follow suit.

The Free Financial Advisor

Estate Sales Are Being Canceled Due to This New IRS Rule

Estate sales have always been a way for families to handle the belongings of loved ones who have passed away. They help people clear out homes, settle debts, and sometimes even find hidden treasures. But now, a new IRS rule is causing many estate sales to be canceled. This change…

Saving Advice

8 Government Agencies That Still Use Paper Files At Your Expense

In an age where nearly everything has gone digital, many people assume that government agencies have also embraced streamlined, paperless systems. After all, businesses, banks,...

The Free Financial Advisor

What Happens When a Joint Bank Account Owner Dies?

When you open a joint bank account, you probably don’t think about what happens if one owner dies. But this is a real issue that can affect your money, your family, and your peace of mind. Many people use joint accounts for convenience, to pay bills, or to help a…

Fortune

An American who helped North Korean IT workers rake in $17.1 million faces sentencing in scheme that tricked hundreds of Fortune 500 companies

Arizona woman Christina Chapman carefully oversaw at least 90 laptops at her home and shipped dozens of others to China, Russia, the UAE, and Nigeria, authorities said.

Kiplinger

Ask the Editor, July 18: Questions on the $6,000 Senior Deduction

In this week's Ask the Editor Q&A, we answer tax questions from readers on the new $6,000 deduction for taxpayers 65 and older.

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