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The Latest Breaking News from IRS

IRS steps toward a new free-file tax return system have both supporters and critics mobilizing

Plans by the IRS to test a new electronic free-file tax return system next year have got supporters and critics of the idea mobilizing over whether the government should set up a permanent program to help people file their taxes without needing to pay somebody else to figure out what…

The Independent UK

Republican claims of Biden family ‘corruption’ are being undermined by their own whistleblowers

Two federal law enforcement agents were scheduled to give evidence before the GOP-led House Oversight Committee on Wednesday

The Independent UK

Watch live: IRS agent Gary Shapley testifies on Hunter Biden investigation

Internal Revenue Service agent Gary Shapley will testify before the House Oversight and Accountability Committee hearing about alleged meddling by US president Joe Biden in the Justice Department’s investigation of his son, Hunter Biden.

The Independent UK

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Here's something you don't often hear from the IRS: Don't pay your taxes (yet)

A ball of confusion — that's what the IRS is today, at least for many Californians.

Los Angeles Times

Tax Breaks for Parents of Children With Disabilities

While there are no specific tax credits for parents of children with disabilities, caregivers might benefit from these other tax breaks.

Kiplinger

Trump's target letter: A reckoning nears

Donald Trump is very likely on the cusp of another federal indictment and this one is the big enchilada

Salon

IRS whistleblowers to testify to Congress as they claim 'slow-walking' of Hunter Biden case

Whistleblowers claiming the Justice Department improperly interfered with a yearslong investigation into Hunter Biden will testify before Congress as House Republicans accelerate their probes into the president and his family

The Independent UK

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IRS Warns: Here Are The Top Scams To Avoid In Summer 2023

IRS scams have only gotten worse since first coming on the scene in 1946, with $8.8 billion lost in 2022 alone. Here's how Americans can protect their funds and identities.

Barchart

Do you have to be a US citizen to win the Powerball lottery?

The next Powerball drawing is on Wednesday 19 July

The Independent UK

DeSantis’ latest policy plan, this time on the military, again focuses on ‘woke’

Florida Gov. Ron DeSantis unveiled a sweeping plan on Tuesday to “rip the woke out of the military” and restore a “mission first” vision for American servicemembers, claiming that liberal political and social agendas had weakened the country’s ability to defend itself.

Miami Herald

IRS Delays IRA RMD Rules to 2025

The IRS is delaying certain required minimum distribution rules. Here’s what the latest change means for some inherited IRA beneficiaries.

Kiplinger

IRS Ramps Up Tax Enforcement for Millionaires

IRS tax enforcement led to the collection of $38 million from tax-evading millionaires. But the agency isn’t done making the wealthy pay up.

Kiplinger

Thomas yacht trips cut Crow's tax bill

In lavishing gifts on the Supreme Court justice, the billionaire GOP donor may have violated tax laws, experts say

Salon

Win a $500 Apple Gift Card with the iMore Reader’s Choice Awards 2023!

Have your say on the greatest Apple devices, apps and accessories of the year.

iMore

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Metal Hammer

The 50 greatest Guns N’ Roses songs ever, and the stories behind them

Guns N' Roses changed the shape of rock'n'roll when they emerged in the mid-eighties. Here's a half-century of their very best, and the stories behind them.

Kiplinger

Three Tips for Selling Your Business and Getting the Most Value

Employing an aggressive tax-loss harvesting strategy and making use of trusts can help secure maximum value. And the sooner you start planning, the better.

Kiplinger

IRS Extends Vermont Tax Deadline Due to Flooding

Flooding victims in Vermont now have an extended federal tax deadline. Here’s everything you need to know.

Tribune News Service

As nonprofit hospitals reap big tax breaks, states scrutinize their required charity spending

POTTSTOWN, Pa. — The public school system here had to scramble in 2018 when the local hospital, newly purchased, was converted to a tax-exempt nonprofit entity.

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Kiplinger

Penalties on Early IRA and 401(k) Payouts Kiplinger Tax Letter

Early withdrawal penalties of 10% typically apply to IRA and 401(k) distributions, but there are exceptions.

Chicago Sun-Times

Rick Heidner, Illinois video gambling mogul, and his wife owe $5 million in income tax, IRS says

The Heidners didn’t contest that they owe $5,083,274 in personal federal income taxes from 2021. They say it will all be paid off “by the end of August.”

The Independent UK

IRS says it collected $38 million from more than 175 high-income tax delinquents

The IRS is showcasing its new capability to aggressively audit high-income tax dodgers as it makes the case for sustained funding and tries to avoid budget cuts sought by Republicans who want to gut the agency

Chicago Tribune

Commentary: The IRS has an alternative to TurboTax. But will that widen the racial wealth gap?

The Internal Revenue Service recently announced that it will begin a pilot program during the 2024 tax season to start preparing and filing Americans’ taxes in-house, relieving them of the need to use an accountant or tax preparation software such as TurboTax.

Chicago Sun-Times

H&R Block, others shared ‘extraordinarily sensitive’ customer data with Meta, lawmakers say

Three large tax preparation firms sent highly personal and financial information on tens of millions of taxpayers to Facebook parent company Meta to help create targeted advertising.

Kiplinger

Who’s Named First on Your Income Tax Return?

A new study says the order of names on a joint income tax return can provide insights about the people filing.

The Independent UK

3 tax prep firms shared 'extraordinarily sensitive' data about taxpayers with Meta, lawmakers say

Some congressional Democrats say three large tax preparation firms sent “extraordinarily sensitive” information on tens of millions of taxpayers to Facebook parent company Meta over at least two years

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Marjorie Taylor Greene

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