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The Latest Breaking News from IRS

Congressional Republicans Launch 'Fishing Expedition' Against Progressive, Jewish, and Palestinian Nonprofits

The House Oversight and Education committees are investigating the sources of “malign influence” behind campus protests. They’re using tactics Republicans used to hate.

Reason

American families are struggling with debt. When it gets forgiven, the tax code treats it like extra income

Turning American families’ forgiven debt into taxable income is simply unfair, and Americans are worried about the fairness of the federal tax code.

Fortune

IRS Direct File Will Be Permanent, Competing With TurboTax, H&R Block

The IRS says it will bring Direct File back next tax season.

Kiplinger

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Income Tax Department officer duped of ₹48.9K in online reward points fraud

A 48-year-old IRS officer with the Income Tax Department lost ₹48,902 to an online reward points fraud.

The Hindu

'Gone in 12 Seconds': How MIT Students Stole $25M Crypto in a US Criminal Case First

MIT grads arrested for $25 million crypto heist in a novel scheme. Feds say it's the first of its kind and vow to crack down on crypto fraud.

International Business Times UK

Anti-Defamation League ramps up lobbying to promote controversial definition of antisemitism

Federal records show a dramatic spending increase that critics say is primarily intended to punish criticism of Israel and target pro-Palestinian groups

The Guardian - US

Can Nonprofits That Help Organize Protests Lose Their Tax Exemptions?

Not because of the viewpoints they express—but yes if they engage in systematic illegal conduct.

Reason

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Senate GOP bill seeks to protect anonymous nonprofit donors - Roll Call

Sens. Todd Young and James Lankford will introduce a bill Tuesday that would increase penalties for revealing anonymous donor information.

Roll Call

Naming Beneficiaries for Inherited IRAs: What You Need to Know

The rules for how to handle an inherited IRA differ depending on the beneficiary, and you should also consider the tax implications of required minimum distributions (RMDs).

Kiplinger

IRS Inquiry Reveals Potential 0 Million Tax Bill For Trump

IRS investigation reveals potential 0 million tax bill for Trump over Chicago tower losses.

Top News

Trump may owe $100m to IRS

Trump, who dodged taxes for a decade, double-dipped while claiming losses on his Chicago tower

Salon

Biden Vs. Trump: Contrasting Tax Plans For Economic Growth

Debate over tax policies between Biden and Republicans, focusing on fairness, economic growth, and national debt implications.

Top News

File By May 17 for $1 Billion in Unclaimed IRS Tax Refunds

Unclaimed tax refunds from years ago are waiting for millions who might not know it. Are you one of them?

Kiplinger

Estate Planning Checklist: 13 Smart Moves

Follow this estate planning checklist for you (and your heirs) to hold on to more of your hard-earned money.

Kiplinger

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Kiplinger

Guide to Military Benefits for Retirement, Pay and Savings

Benefits for those who serve in the U.S. military can sometimes be complex and confusing. Here’s what to know about how to optimize some of them.

Top News

Debate Over Tightening Restrictions On Donor-Advised Funds

Deliberations on enhancing regulations for donor-advised funds to ensure transparency and accountability in charitable giving.

Top News

Trump Attorney Confirms Cohen Payments Disclosed To IRS

Trump attorney questions disclosure of payments to Michael Cohen in 2017, highlighting importance of financial record-keeping and tax compliance.

Kiplinger

Final EV Tax Credit Rules Don’t Change Much for Consumers

Treasury and IRS have finalized regulations for the up to $7,500 electric vehicle tax credit.

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The Hindu

Former IRS officer sees big scope for ‘MSMEs revolution’ in Chittoor

Former IRS officer and TDP candidate Daggumalla Prasada Rao envisions Chittoor as a thriving hub for MSMEs and agricultural development.

The Hindu

Participation of more MPs needed in discussions on key affairs in Parliament says Daggumalla

Former IRS officer Daggumalla Prasada Rao aims to bring dynamic change to Chittoor as TDP MP candidate.

Top News

IRS Overhauls Audit Practices To Address Disparities

IRS takes steps to address audit rate disparities, focusing on Black taxpayers, wealthy individuals, and major corporations.

International Business Times

Certified Mailing Solutions, Inc. Brings the IRS' Certified Mail® Into the Modern Age, Renewing a Five-Year Contract

To increase security and ensure the mail is received, senders can use Certified Mail®. This is a service provided by the United States Postal Service (USPS) that provides the sender with proof of mailing and verification that their letter has been delivered.

Top News

Michael Avenatti's Role In Stormy Daniels Case Resurfaces

Attorney Emil Bove raises questions about Michael Avenatti's impact on Stormy Daniels' representation amid legal proceedings and Avenatti's subsequent lega...

International Business Times UK

Can I Use My Business Credit Card for Personal Use?

Using business credit cards for personal expenses can affect your personal credit scores, lead to account closure, or land you in trouble with the IRS.

Salon

IRS targets sports owners' tax avoidance

Billionaires generate what can be hundreds of millions in tax savings by purchasing professional sports teams

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