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The Latest Breaking News from IRS

Estate Planning: How Does the Basis Step-Up Rule Work?

The step-up in basis, one of the most powerful tools in estate and tax planning, can make a huge difference in capital gains taxes owed.

Kiplinger

Understanding Virtual Currency: How It Works Across Digital Platforms

Virtual currencies are digital tokens used across many online platforms. According to the IRS, virtual currency is a digital representation of value that serves as a unit of account, a store of value, and a medium of exchange.

inkl

Three Often-Overlooked Ways to Cut Your Tax Bill Now

Act before 2024 ends to set yourself up for potential savings when it's time to file your tax return.

Kiplinger

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FSA Contribution Limits Are Higher for 2025

A flexible spending account allows you to build tax-free savings for certain medical expenses.

Kiplinger

Elon Musk Says He's 'The Largest Individual Taxpayer In History' After $10B Payment: 'I Thought The IRS Would Send A Trophy'

The average true tax rate for the ultra-rich, including Elon Musk, is much lower than those less affluent as they leverage a host of tax-savings strategies to reduce their reported annual income despite skyrocketing net-worth growth

International Business Times UK

‘Partisan politics’: how efforts to overturn the Johnson amendment could upend campaign finance

Experts say undoing the provision, which bans churches from campaign donations, would open a flow of dark money

The Guardian - US

Abolish the IRS—and the Income Tax Too

Americans spent an estimated $133 billion and 6.5 billion hours filing their tax returns in 2024.

Reason

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New Rules for Retirement Savings Taking Effect in 2025

Many employees will be able to contribute more money to tax-advantaged workplace plans.

Kiplinger

Florida Tax Deadline Extension for 2025: What You Need to Know

If you live in Florida the IRS has extended your federal income tax deadlines.

Kiplinger

IRS: Here’s How to Recover Your Tax Records After a Natural Disaster

Your tax documents can help you get federal relief faster, the IRS says.

Kiplinger

Tax Changes are on Trump's 2025 To-Do List

Donald Trump campaigned on lower taxes and, as president, he will push Congress to pass big tax changes next year

Kiplinger

Nanny Pleads Guilty In Suburban Virginia Double Homicide Case

A nanny in Virginia pleads guilty to manslaughter in a shocking double homicide case involving her employer and another man. Tragic events unfold in the Ba...

Top News

12 Retirement Moves to Make Before the Year Ends

From applying for Social Security and donating to charity to maximizing your savings accounts, here are 12 retirement moves you can still make in 2025

Kiplinger

Why Did Federal Agents Raid Alfie Oakes' Naples Estate? Everything You Need to Know

Federal agents have launched a high-profile raid on conservative influencer Alfie Oakes, raising questions about his financial troubles and the future of his $400 million empire.

International Business Times UK

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Latin Times

IRS bows to James Comer and Jim Jordan's Demands to Halt Disciplinary Measures Against Hunter Biden Whistleblower

" We won't stop fighting for these brave whistleblowers, who exposed misconduct and politicization in the federal criminal investigation," said the House Oversight Committee

Kiplinger

IRS Updates Capital Gains Tax Thresholds for 2025

For the 2025 tax year, the IRS has increased the capital gains tax income thresholds. Here's what you need to know.

Kiplinger

Earned Income Tax Credit (EITC) 2025 and 2026: How Much Will You Get?

The refundable amount for workers with or without children is slightly higher this year. Here’s what you need to know.

Kiplinger

How Intrafamily Loans Can Bridge the Education Funding Gap

To avoid triggering federal gift taxes, a family member can lend a student money for education at IRS-set interest rates. Here's what to keep in mind.

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Louder

"I was being a very bad boy. It was not a good time": Bob Welch was the man who kept Fleetwood Man going, but a decade later he was smoking crack with Guns N' Roses

In this exclusive extract from his new Fleetwood Mac book, Mark Blake tells the tale of Bob Welch, the man Mick Fleetwood credits as having played a crucial role in keeping the Mac together

Kiplinger

457 Plan Contribution Limits for 2026

There are higher 457 plan contribution limits in 2026. That's good news for state and local government employees.

Kiplinger

Two Consequential Tax Cases You May Not Have Heard About

The Supreme Court's decisions in these cases create uncertainty about challenging IRS regulations and guidance. Expect more litigation to follow.

Bored Panda

Aren’t Supposed To Know: 49 Confessions From Employees Across Industries

Someone asked “What's a secret in your job that people aren't supposed to know about?” and netizens spilled the beans. The post Aren’t Supposed To Know: 49 Confessions From Employees Across Industries first appeared on Bored Panda.

USA Today Sports Media Group

Can Life Insurance Qualify as a Business Expense? Essential Tax Tips

Typically, life insurance is viewed as a personal financial product that acts to secure families or loved ones in case of an unexpected death. However, for those owning businesses, it can be more than just a means of protection by functioning as a ...

International Business Times UK

Research Says Your Airfryer May Be Recording Your Conversations And Sending Data To China

Air fryers, once a kitchen darling, are now under scrutiny. Recent reports suggest these popular appliances may listen to users and send data to China.

Kiplinger

New SECURE 2.0 Super 401(k) Catch-Up Contribution for Ages 60-63

SECURE 2.0 changes will allow older workers to increase their retirement savings. Here's what you need to know.

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