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The Latest Breaking News from IRS

Want to Give Money to Your Adult Children? 10 Things You Should Know

It’s less taxing to give money to your adult children than you might think. A good plan can help you avoid certain pitfalls — and drama.

Kiplinger

Potential Ripple Effects of Taxing Unrealized Capital Gains

The proposed tax on unrealized gains would be limited to those with a net worth above $100 million, but some see a broad impact on markets and businesses.

Kiplinger

The Satanic Temple is taking on the Christian right. It’s fun to watch

Recognized as a religion by the IRS, the group uses the religious right’s tactics, and their victories, against them

The Guardian - US

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Here's How to Find Your Way Out of the Inherited IRA Maze

To navigate complex rules on inherited IRAs and RMDs, start by breaking down key terms and common scenarios. A clearer picture of your next steps will emerge.

Kiplinger

Property Tax Relief on the Georgia Ballot as Early Voting Surges

Georgia voters will decide on an important measure that could cap property tax increases in the state.

Kiplinger

AI helping US Treasury bust fraudsters, saving billions

The technology helped recover $1.3bn in tax fraud in the 2024 fiscal year, says the Treasury.

Al Jazeera

Three Tax Reasons to Retire in Panama in 2025

With low property taxes and tax-free foreign income, this tropical paradise could make you rethink retirement as a U.S. expat.

Kiplinger

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Coca-Cola 'Zero-Sugar' Lemonade Found To Contain Full Sugar

The FDA's recall notice cited that the cans of regular Minute Maid Lemonade were incorrectly packed into cartons labeled Minute Maid Zero Sugar Lemonade.

International Business Times

The cannabis industry is awaiting a legal green light, but can businesses survive?

Legal gray area surrounding the drug makes it difficult to prepare next steps, with rescheduling a perpetual threat

The Guardian - US

Is the IRS Coming for Your Gambling Winnings?

The latest tax audit on unreported income points to high-income, high-wealth gamblers. Could

Kiplinger

Tax veterans see protracted standoff over expiring breaks - Roll Call

The growing possibility of divided government next year has some predicting the 2025 tax fight could stretch into 2026 and beyond.

Roll Call

Has Your Dream Nest Egg Become a Tax Nightmare? What You Can Do About It

Retirement savers with big bucks in traditional IRAs and pretax 401(k)s could face huge tax bills when their RMDs kick in. Here's a potential solution.

Kiplinger

Changing OpenAI's nonprofit structure would raise questions about its future

The artificial intelligence maker OpenAI may face a costly and inconvenient reckoning with its nonprofit origins even as its valuation recently exploded to $157 billion

The Independent UK

Documents show OpenAI's long journey from nonprofit to $157B valued company

Back in 2016, the artificial intelligence maker OpenAI had just incorporated as a nonprofit and applied to the Internal Revenue Service for tax-exempt status

The Independent UK

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Kiplinger

Five Ways Your Boss Can Step Up in the Aftermath of a Hurricane

The IRS offers some tax advantages for employers that financially help their employees during federally declared disasters.

Kiplinger

How to Open a 401(k): Five Rules to Follow

Whether you're starting a new job or have never opened a 401(k) account, it's time! Here's how to open an account in five steps.

Kiplinger

Six Tax Deadlines for October 15 You Don't Want to Miss

You might know about the federal tax return extension deadline, but did you know about these other tax deadlines for Oct. 15?

Kiplinger

The Truth About Hurricane Relief, FEMA, and Your Taxes

Don't believe rumors. Get accurate information to navigate hurricane disaster relief.

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Kiplinger

IRS Sued for Millions Over Employee Retention Credit (ERC) Delays

The pandemic-era tax refunds for businesses have been a contention point for the agency, now employers are fighting for their cash.

Kiplinger

Want to Turn Your Tax Bill Into a Refund? What to Do Now

A few easy steps can help you avoid writing a check to the IRS. And if your most recent refund was a whopper, you might want to consider a few adjustments.

Kiplinger

Hurricane Helene Aftermath: IRS Tax Relief and How to Help

Following the destruction in the southeast U.S., IRS officials and several states have extended tax deadlines for affected taxpayers. Here are the payments and filings that qualify.

Roll Call

Congressional estimators find sharply lower revenue take from Harris tax plans - Roll Call

Nonpartisan analysts said Harris' plans are unlikely to generate the amount of revenue the Biden-Harris administration previously estimated.

Kiplinger

Farewell Paper I-Bonds: Savings Bonds Are Going Online-Only

The last remaining way to buy a paper savings bond in the U.S. (with your income tax refund) won't be available from January 2025. Tax filers will still be able to buy I-bonds online, however.

Top News

IRS Expands Direct File Program For Taxpayers

IRS expands Direct File program for free tax filing, now permanent in 24 states, open to 30M+ people.

The Independent UK

Taxpayers in 24 states will be able to file their returns directly with the IRS in 2025

The IRS is expanding its program that allows people to file their taxes directly with the agency for free

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