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The Latest Breaking News from IRS

Tax Benefits of Hiring Your Kids Plus IRS Rules to Follow

Hiring your child can potentially lower your tax bill and help kids develop skills, but there are some rules you need to know — and follow.

Kiplinger

The IRS says you'll be able to file all your taxes online by 2025

The IRS is going to help you submit your taxes digitally, as well as converting all previous papers to e-records.

TechRadar

1,365 vacant posts in IAS, 703 in IPS: Government tells Rajya Sabha

There are 1,365 vacancies in the Indian Administrative Service (IAS) and 703 in the Indian Police Service (IPS), Union Minister of State for Personnel Jitendra Singh informed Rajya Sabha in a written reply on August 3, 2023

The Hindu

From analysis to the latest developments in health,
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Why Business Owners Should Review Their Buy-Sell Agreements

A recent tax case now before the U.S. Supreme Court hasn’t gone well for a small business, highlighting the need for businesses using a similar (and typical) succession planning arrangement to take a look at theirs.

Kiplinger

Bond Basics: Zero-Coupon Bonds

These investments are attractive only to a select few. Find out if they're right for you.

Kiplinger

IRS aims to go paperless by 2025 as part of its campaign to conquer mountains of paperwork

Most taxpayers will be able to digitally submit a slew of tax documents and other communications to the IRS next filing season and the agency plans to go completely paperless in 2025

The Independent UK

Business Owners Need Tax Planning Strategies More Than Ever

A landmark tax case before the U.S. Supreme Court about unrealized gains underscores business owners’ need for tax mitigation planning.

Kiplinger

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The Problem With 401(k) Catch-Up Contributions for 2024

New rules governing certain 401(k) catch-up contributions caused confusion and raised concern.

Kiplinger

With interest rates at historic highs, retirees might want to invest in a CD IRA to protect and grow their nest eggs

IRA CDs can help retirees protect their savings in multiple ways.

Fortune

New Rules for Inherited IRAs Could Leave Heirs With a Hefty Tax Bill

Thanks to recent changes in the law on inherited IRAs, your tax bill from any inheritance could be larger than you expect.

Kiplinger

Sidheshwar Brahmrishi Gurudev Guruvanand in Delhi for the first time; Large number of devotees throng the venue

Sidheshwar Brahamarshi Gurudev Swami Guruvanand was in New Delhi on Saturday to grace the one-day Sidheshwar Mahotsav 2023. Thousands of devotees had a divine glimpse of their Guru on the occasion. Here is the exclusive report by Dynamite News:

Dynamite News

Trump returns to first impeachment roots by saying Ukraine aid should be linked to Biden probes

‘Congress should refuse to authorize a single additional shipment of our depleted weapons stockpiles,’ ex-president says

The Independent UK

S.K. Mishra | The ‘indispensable’ director

Sanjay Kumar Mishra was first appointed interim Director of the ED for three months in October 2018 before he was made the full-time chief in November 2018 for a two-year fixed tenure. In November 2020, when his tenure was coming to an end, the Union government quietly extended it with…

The Hindu

The 10-Year Rule for Inherited IRAs

The IRS’ interpretation of the 10-year clean-out rule on inherited IRAs can be complicated.

Kiplinger

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The Guardian - US

Tax complaint filed against rightwing parents’ rights group Moms for Liberty

Michigan attorney alleges organization, named an extremist group by Southern Poverty Law Center, in violation of non-profit status

Chicago Sun-Times

In Alsip red-light-camera investigation, feds have done new interviews, issued subpoenas

Investigators recently approached or interviewed current and former village officials, asking how Alsip chose SafeSpeed as its red-light-camera contractor.

Kiplinger

One Way to Secure Your Child’s Inheritance in an Uncertain Tax Future

Sometimes it might take an IDGT, or intentionally defective grantor trust, to preserve generational wealth. But how does that work?

Al Jazeera

What comes next for Hunter Biden after plea deal derails?

US President Joe Biden’s son faces a criminal case and investigations in Congress. Here’s what you need to know.

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The Independent UK

What's next for Hunter Biden in court and Congress after his plea deal derails

The unraveling of Hunter Biden’s plea agreement has thrust his criminal case into uncertain waters and given new fodder to Republican critics in Congress as they push ahead with investigations into the president’s youngest son

Salon

Impeach Biden? Yeah, they just might

The spineless speaker will ultimately do whatever Trump and MTG want. We know what that is — and it might work

The Independent UK

GOP try to block Hunter Biden plea deal at Delaware court hearing

The last-ditch filing from Rep Jason Smith kicked off a firestorm in Delaware court, which culminated in the judge threatening to sanction Hunter Biden’s attorneys

The Independent UK

Hunter Biden's guilty plea is on the horizon, and so are a fresh set of challenges

President Joe Biden’s son, Hunter Biden, faced new challenges on the eve of a scheduled court appearance Wednesday in which he’s set to plead guilty in a deal with prosecutors on tax and gun charges

Kiplinger

Why the IRS Shouldn't Literally Be Knocking at Your Door

The IRS is changing a longstanding practice that involved collecting tax debts through tens of thousands of unannounced home visits.

Kiplinger

IRS Email Scams to Watch Out for This Summer

The IRS has seen an increase in email scams this summer. If you see these tax-related messages in your inbox, don’t open them.

Zenger

GOP House Speaker Suggests Biden Probe Reaching Impeachment Level

Kevin McCarthy cites IRS whistleblowers and foreign funds investigation as evidence

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