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The Latest Breaking News from IRS

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

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."

International Business Times

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.

Kiplinger

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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.

Fortune

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

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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.

Kiplinger

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

The Independent UK

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.

Kiplinger

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.

Roll Call

Will SCOTUS Strike Down Wealth Taxes?

The U.S. Supreme Court just heard arguments in a case that some say could upend the U.S. tax code.

Kiplinger

No, a fourth stimulus check isn’t coming in December, despite what you read online

No, you’re not getting a holiday bonus from the government.

Fortune

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Fortune

What is a traditional IRA? Here’s how using one can save thousands on your taxes

A traditional IRA is an individual retirement account that offers tax-deferred growth–but there are limits to what you can contribute each year.

Kiplinger

One Key Rule for Understanding 2023 RMDs

Required minimum distribution (RMD) rules can be confusing, but there is a guideline that can help.

Kiplinger

Tax Plans of the 2024 Presidential Candidates

Joy Taylor reviews the tax plans of the 2024 election candidates. With a raft of tax provisions due to expire in 2025, the tax stakes couldn't be higher.

Reason

Kissinger Dies

Plus: Trump opts out of debates, blackface story gets a twist, AI-enhanced IRS, and more...

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Kiplinger

What Is a 403(b) Retirement Plan?

Many teachers and other non-profit workers are offered 403(b) plans, rather than a 401(k). But what is a 403(b)?

The Independent UK

How to avoid donation scams on Giving Tuesday

Giving Tuesday is celebrated on Tuesday after Thanksgiving

The Hindu

Bribery case: HC extends Sameer Wankhede's interim protection from coercive action till Jan 10

Mumbai HC extends interim protection to IRS officer Sameer Wankhede till Jan 10 in extortion, bribery case related to Cordelia cruise drugs case. CBI to argue on Jan 10/11. Wankhede seeks to quash FIR lodged by CBI.

Kiplinger

Another Big IRS Tax Change for Online Sellers

Just in time for the holidays, the IRS is delaying a significant tax 1099-K reporting requirement for 2023.

Reason

The IRS Won't Make Taxpayers Report Taylor Swift Ticket Sales (and Other Online Transactions Over $600)

For now, at least.

Kiplinger

Tax-Deductible Black Friday Deals for the Self-Employed

Some Black Friday deals can help the self-employed save on business expenses and taxes.

Fortune

Does your income exceed IRS limits? Try a backdoor Roth IRA.

A backdoor Roth IRA is a legal tax strategy for converting traditional IRA money into a Roth IRA.

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