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The Latest Breaking News from IRS

IRS Waiving $1 Billion in Back Tax Penalties

The IRS is waiving penalties for nearly $1 billion in back taxes owed during the pandemic.

Kiplinger

IRS to waive $1 billion in penalties for people and firms owing back taxes for 2020 or 2021

The IRS says it's going to waive penalty fees for people who failed to pay back taxes that total less than $100,000 a year for tax years 2020 or 2021

The Independent UK

Ashley, Debt-Dodger, Owes IRS 00 Since 2015!

Dive into the quirky tale of Ashley, her unpaid tax bill, and her cheeky defiance of the IRS. A light-hearted look into financial indiscretions.

Top News

A Few Year-End Tax Moves to Make by New Year’s Eve

Before you ring in the new year, consider some year-end tax strategies that can reduce your tax liability.

Kiplinger

Mormon Church Faces Lawsuit Over Mishandling Of Charity Funds

Donors accuse church of diverting funds to shell companies; $5M fine previously imposed.

Zenger

There's Still Time To Legally Cut Your 2023 Tax Bill — Here's How

Moves you make in the waning days of 2023 and up until April 15, 2024 can help you pay less tax. It's worth your time.

Investors Business Daily

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The $10 billion charity no one has heard of

A donor-advised fund devoted to supporting the United Nations Sustainable Development Goals has leapt from being a relatively minor charity to one with an asset size comparable to behemoths like the Andrew W

The Independent UK

Taxable Income: What It Is and How to Calculate It

Understanding taxable income can help reduce tax liability.

Kiplinger

Filing Reveals Jay Monahan's 2022 Earnings And PGA Tour's Huge Legal Fees

Sportico reports that the PGA Tour's 2022 IRS filings show a huge increase in Monahan's compensation and the organisation's legal fees

Golf Monthly

Report: PGA Tour’s 2022 tax filings show significant increases in Jay Monahan’s compensation, legal fees

The Tour’s IRS filings for 2022 included increases to Monahan’s compensation, the Tour’s legal fees and revenues.

USA Today Sports Media Group

What small businesses need to know about new regulations going into 2024

Regulations are a double-edged sword

The Independent UK

DeSantis blames Trump for satanic display at Iowa Capitol

The Satanic Temple Iowa sparked outrage among conservatives after it set up a holiday display inside the state capitol this month

The Independent UK

What Student Athletes Need to Know About Their NIL Income

An athlete who receives name, image and likeness (NIL) income is considered self-employed, which means they need to keep taxes and other issues in mind.

Kiplinger

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International Business Times

FTX Warns Of Potential Delay In Customers' Compensation Amid IRS' $24B Tax Claim

FTX, in its filing to a Delaware court, called the IRS' tax claim "meritless."

Kiplinger

How to Earn Tax-Free Rental Income — Legally

An IRS rule can sometimes be used (but not abused) to claim tax-free rental income on your home.

Fortune

Traditional IRA vs. Roth IRA: choosing the right ingredients for your retirement recipe

Traditional and Roth IRAs offer powerful tax breaks to supercharge your retirement savings.

Fortune

Taxable brokerage accounts: the best investment option for control freaks

Taxable brokerage accounts give you ultimate control of your investment portfolio.

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Kiplinger

Five Year-End Tax Tips for Freelancers

These tax tips can help avoid IRS audits and possibly have you paying less taxes as a freelancer this year.

Kiplinger

IRS Will Tax Your ‘Walz Check’ Minnesota Rebate: What to Know

Minnesota Gov. Tim Walz used some choice words to describe the IRS decision to tax Minnesota 2023 rebate checks.

Kiplinger

RMDs Deadline Is Coming: What if You Don’t Need the Money?

New rules affect the age when you have to take your RMDs and what the penalty is if you mess up. There are also options to delay or avoid taking them.

The Independent UK

Missing laptops, gun charges and skipped taxes: Hunter Biden’s history of legal wranglings

Congressional Republicans have used Hunter Biden’s legal problems, past drug use, and foreign business dealings to open an impeachment inquiry into the president, despite no evidence supporting any links to the elder Biden, Gustaf Kilander writes

Kiplinger

Retirement Account Moves to Make Before December 31

You can make retirement account moves before year-end. Consider topping off your contributions and taking your RMDs.

Kiplinger

11 Reasons to Consider a 1031 Exchange

Deferring capital gains taxes might be at the top of the list, but growing your portfolio and your wealth and helping with estate planning are also compelling reasons.

Roll Call

House panel backs release of Hunter Biden tax probe information - Roll Call

The House Ways and Means Committee held a closed, daylong session that ended with it releasing additional documents related to Hunter Biden.

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