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The Latest Breaking News from IRS

Are You Losing Promised Income by Ignoring Rental Side App Tax Loopholes?

If you rent out a room on Airbnb, share your car on Turo, or list storage space on Neighbor, you might be missing out on serious income without even realizing it. Many rental side hustle earners forget that certain tax breaks and deductions apply to their earnings. The result? You’re…

Beating Broke

5 Tax Benefits That Disappear if You Downsize Too Late

Downsizing your home can be a smart financial move, but waiting too long can cost you in ways you might not expect. While selling a larger property often frees up cash and reduces maintenance costs, there are specific tax perks tied to timing. If you miss the right window, you…

The Free Financial Advisor

Is IRMAA About to Add Hundreds to Your Monthly Medicare Bill?

For many retirees, managing finances means keeping a close eye on every expense, and Medicare is often a significant part of the budget. While most people are familiar with their Part B and Part D premiums, a lesser-known acronym could drastically increase those costs. The Income-Related Monthly Adjustment Amount, or…

Budget and the Bees

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How Your 2025 Wedding Could Save You Money on Taxes

There are some wedding expenses that are tax-deductible, and you don’t want to miss out on savings.

Kiplinger

7 Ill-Advised Advisor Tips That Trigger IRS Audits

Tax season can be stressful. You want to get every deduction you deserve, but you also want to avoid trouble with the IRS. Many people turn to financial advisors for help, trusting their expertise. But not every tip is a good one. Some well-meaning advice can actually put you in…

The Free Financial Advisor

8 Email Formats That Signal a Financial Scam in Disguise

Email scams are everywhere. They show up in your inbox when you least expect them. Some look like messages from your bank. Others pretend to be from the IRS or a company you trust. These scams can cost you money, steal your identity, or even lock you out of your…

The Free Financial Advisor

10 Retirement Funds That Can Be Frozen by Court Orders

Retirement funds are supposed to be safe. You work for years, save money, and expect those funds to be there when you need them. But sometimes, a court can freeze your retirement accounts. This can happen for many reasons, like unpaid debts, divorce, or legal judgments. Knowing which retirement funds…

The Free Financial Advisor

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Is Your Social Security Check Shrinking Without Explanation?

Social Security is a lifeline for millions of Americans. If you rely on these monthly payments, any drop in your check can feel alarming. Sometimes,...

Saving Advice

Should You Add Your Child’s Name to Your House Title?

Adding your child’s name to your house title sounds simple. Many parents think it’s a way to help their kids or avoid future problems. But...

Saving Advice

10 Refund Delays Women Face After Retirement That Men Rarely Do

Retirement should bring peace of mind and financial stability, but for many women, unexpected delays in receiving refunds and reimbursements create added stress. Whether it’s tax returns, overpaid premiums, or owed pension benefits, women often wait longer than men due to systemic gaps in records, outdated processes, or assumptions about…

The Free Financial Advisor

5 Ways Missing One Tax Form Can Cost Your Heirs Thousands

It’s hard enough planning for your family’s future after you’re gone, but all that careful effort can unravel if one tiny detail gets missed. For many families, missing one tax form during estate or inheritance filings has led to expensive delays, surprise bills, and even lost assets. Tax forms may…

The Free Financial Advisor

8 Rules Around Health Savings Accounts That Still Confuse Seniors

Health Savings Accounts (HSAs) can be a powerful financial tool, especially in retirement, but the fine print can leave even the most financially savvy seniors scratching their heads. Many older adults assume they fully understand how HSAs work—only to discover late-in-the-game rules that affect taxes, contributions, or withdrawals. If you’re…

The Free Financial Advisor

7 Legal Loopholes That Let Authorities Freeze Assets Without Warning

When you think about your money, you probably imagine it’s safe in your bank account or investments. But what if you woke up one day and found your assets frozen—no warning, no chance to move your funds? Asset freezing isn’t just something that happens to criminals or big corporations. It…

The Free Financial Advisor

What Happens When Your Loved Ones Open an Account in Your Name?

Opening a bank account is a big deal. It’s your money, your name, and your credit on the line. But what if someone you trust—maybe a family member or close friend—opens an account in your name without telling you? This happens more often than you might think. Sometimes it’s a…

The Free Financial Advisor

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news in one place.

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The Free Financial Advisor

7 IRS-Style Threat Scams Still Confusing Homeowners This Year

Every year, scammers find new ways to trick homeowners. IRS-style threat scams are some of the most common. These scams use fear, urgency, and official-sounding language to get people to hand over money or personal information. Many homeowners think they can spot a scam, but these tactics keep getting more…

The Guardian - AU

Trump news at a glance: Lutnick threatens Harvard patents; former Fox commentator bound for UN

Commerce secretary begins process could let the government seize Harvard patents; Tammy Bruce nominated for deputy US ambassador to UN – key US politics stories from 9 August 2025

The Guardian - US

IRS commissioner’s removal reportedly over clash on undocumented immigrant data

Trump removed Billy Long from post months after agency said it couldn’t release information on some taxpayers

The Independent UK

IRS clashed with White House over pulling immigrants’ data before Trump fired commissioner Billy Long: report

DHS asked IRS to use confidential taxpayer information to confirm addresses of undocumented immigrants

Get all your
news in one place.

100's of premium titles.
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Saving Advice

Are You Making These Expensive Mistakes With Required Minimum Distributions?

Required Minimum Distributions (RMDs) can trip up even the most careful savers. If you have a traditional IRA, 401(k), or similar retirement account, you can’t...

The Free Financial Advisor

10 Employer “Perks” That Void Retirement Tax Breaks

Employee perks are often marketed as amazing benefits—free lunches, tuition assistance, or wellness stipends. But not all perks come without strings. In fact, some workplace extras can actually reduce or disqualify your eligibility for key retirement savings advantages. The fine print matters, especially when IRS rules are involved. To protect…

The Free Financial Advisor

8 Trusts That Sound Safer Than They Really Are

A trust can look like a neat shortcut to protect assets and make heirs’ lives easier. But some trusts carry hidden limits or trade-offs that hurt more than help. Knowing which vehicles are actually risky trusts lets you avoid bad surprises. Read these eight types and learn simple steps to…

Benzinga

Trump Removes IRS Commissioner Billy Long After 2 Months, Appoints Treasury Secretary Scott Bessent As Acting Chief Amid Agency Leadership Crisis

President Donald Trump has reportedly removed Billy Long as Internal Revenue Service commissioner just two months after his Senate confirmation. Treasury Secretary Scott Bessent will serve as acting IRS commissioner while the administration searches for a permanent replacement.

The Guardian - US

Trump removes IRS commissioner Billy Long two months after he was sworn in

Long is reportedly now in line for Iceland ambassador post as treasury chief Scott Bessent takes over as acting IRS head

The Independent UK

Trump boots IRS commissioner after just months on the job: Names Treasury Secretary as interim head

The former Missouri congressman had next to no experience with tax law when he was tapped to lead the tax collection agency

Roll Call

Long removed as IRS commissioner two months after confirmation - Roll Call

Former GOP Rep. Billy Long has been removed as IRS commissioner by President Trump, a White House official said Friday.

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