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The Latest Breaking News from IRS

Buddy Carter's Bill to Abolish IRS and Overhaul Tax Code Aims to Cut National Debt

US Rep. Buddy Carter's Fair Tax Act would help Americans save money by putting them in charge of their tax rate, reducing tax loopholes and the national debt, and mandating illegal immigrants to pay their fair share of taxes.

International Business Times UK

Tax Season Alert: Protect Yourself From Identity Theft Risks

A new IRS report highlights ongoing issues, including the agency's "unconscionable" delays in addressing identity theft cases.

International Business Times

Three Steps to Simplify Paying Your Taxes in Retirement

Once you retire, how you pay some of your taxes can change. Here's how to get a handle on them so you don't run afoul of the IRS and face penalties.

Kiplinger

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Not Ready to File Taxes? 8 Things to Do Now to Prepare

Now is a good time to review your financial situation and prepare to file your 2025 federal income tax return.

Kiplinger

The IRS is Pursuing Partnerships and Their Owners

The IRS has many enforcement priorities, and partnership tax noncompliance is near the top of that list.

Kiplinger

IRS Announces Jan. 27 Start Date For 2025 Tax Season

IRS announces 2025 tax season with enhanced services and Direct File program expansion. Stay informed about tax scams and filing updates.

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IRS announces January 27 as the start of the 2025 tax season

The IRS on Friday announced January 27 as the official start date of the 2025 tax season, and expects more than 140 million tax returns to be filed by the April 15 tax deadline

The Independent UK

IRS Free File Could Go Away Under House GOP Plan: What to Know

If you used this free filing service last tax season, you might want to start looking for new options now.

Kiplinger

Nine Ways to Find Your Lost 401(k)

Over 29 million lost 401(k) accounts worth almost $1.65 trillion have been forgotten by their owners. Here are nine ways you can locate your account.

Kiplinger

IRS’s free tax filing service opens today. Here’s how you can take advantage

Millions of Americans can get ahead of the stress and start working on their taxes as soon as today—for free.

Fortune

California Fires: How to Recover Tax Records and Other Important Documents

Having your tax records and other vital documents is important for claiming casualty loss deductions that can help with recovery.

Kiplinger

10 Reasons to Leave Your Heirs a Roth IRA

Including a Roth IRA in your estate plan has clear tax advantages, which can be passed along to your heirs for years. But if passed down incorrectly, your heirs won’t reap the full benefits.

Kiplinger

Child and Dependent Care Credit: How Much Is It?

The non-refundable tax break can help working families afford quality care for their child or qualifying dependent.

Kiplinger

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Salon

Evangelical hate of Carter led to MAGA

Evangelicals loved Jimmy Carter — until his anti-racism turned them against him

Fortune

How to sell your house: 8 steps to help you sell in 2025

Are you a homeowner selling your house for the first time? Follow our guide to understand the steps you need to take.

Top News

IRS Faces Challenges Despite Improvements In Taxpayer Services

IRS faces challenges in processing pandemic-era tax credit claims and resolving identity theft cases. Recommendations for enhancing operations and concerns...

Kiplinger

The American Opportunity Tax Credit (AOTC): How Much Is It Worth?

This tax break can help you offset $2,500 in qualifying expenses tied to your higher education. Here's what you need to know.

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International Business Times

Child Tax Credit 2024-2025: Eligibility Details And What The Trump Admin Has Said About It

If you've started fixing your documents for the 2024 tax year, you may be interested in the child tax credit – if you have multiple dependents, you may be able to save thousands in taxes this year through this policy.

International Business Times

Understanding The Head Of Household Filing Status: A Guide To Tax Benefits And Qualifications

The Head of Household (HOH) filing status provides valuable tax advantages, including a higher standard deduction and more favorable tax rates. However, to qualify for this status, taxpayers must meet specific criteria, including supporting a dependent and maintaining a home.

Bored Panda

Man Refuses To Share His SSN, Girlfriend Insists It’s Non-Negotiable, Silence Follows

His girlfriend asked for his social security number a year into their relationship so she could "do a background check". He refused so she left. The post Man Refuses To Share His SSN, Girlfriend Insists It’s Non-Negotiable, Silence Follows first appeared on Bored Panda.

Kiplinger

1099-K Reporting Changes Proposed for 2025

An IRS 1099-K threshold change will impact millions of tax bills beginning with this filing season. But could a bigger change lie ahead?

Reason

IRS Failed To Properly Dispose of Sensitive Tax Documents, Report Finds

Some IRS offices routinely threw away sensitive material with regular trash, while others used unlocked or damaged storage bins.

Kiplinger

Should You Buy a Vacation Home?

If you vacation to a beloved destination again and again, purchasing a home there may be a smart move — but don’t overlook the costs and effort that go into it.

Salon

GOP quietly cuts IRS funding by $20B

The GOP assault on the revenue collecting agency's funding could exacerbate wait times and balloon the deficit

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