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The Latest Breaking News from IRS

Can Life Insurance Qualify as a Business Expense? Essential Tax Tips

Typically, life insurance is viewed as a personal financial product that acts to secure families or loved ones in case of an unexpected death. However, for those owning businesses, it can be more than just a means of protection by functioning as a ...

USA Today Sports Media Group · Nov 6, 2024

Research Says Your Airfryer May Be Recording Your Conversations And Sending Data To China

Air fryers, once a kitchen darling, are now under scrutiny. Recent reports suggest these popular appliances may listen to users and send data to China.

International Business Times UK · Nov 5, 2024

New SECURE 2.0 Super 401(k) Catch-Up Contribution for Ages 60-63

SECURE 2.0 changes will allow older workers to increase their retirement savings. Here's what you need to know.

Kiplinger · Nov 4, 2024

From analysis to the latest developments in health,
read the most diverse news in one place.

U.S. Treasury's AI is Catching Tax Cheats and Saving Billions

Artificial intelligence is helping the Treasury Department reclaim billions in tax funds. Find out what this could mean for you.

Kiplinger · Nov 4, 2024

Is Rep Nate Schatzline Misusing Nonprofit to Play Partisan Politics?

“It appears that For Liberty & Justice is violating its 501(c)(3) tax-exempt status by assisting the campaign of Sen. Ted Cruz and the Republican Party.”

Texas Observer · Nov 4, 2024

Should You Buy These Covered-Call Funds?

Covered-call ETFs are popular but come with plenty of caveats.

Kiplinger · Nov 3, 2024

Is It Too Late to Do a Roth Conversion if You're Retired?

The short answer is: Not at all. Roth conversions can be great tax-saving strategies … for the right people. Are you a good candidate?

Kiplinger · Nov 3, 2024

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James Comer and Jim Jordan Demand IRS Halt Disciplinary Measures Against Hunter Biden Whistleblowers

The lawmakers said two officials revealed the "politization and misconduct in the federal criminal investigation of Hunter Biden."

Latin Times · Nov 1, 2024

IRS Announces 401(K) Contribution Increase For 2025

IRS raises retirement account contribution limits and standard deductions for 2025, Social Security benefits also increase.

IRA and 401(k) Contribution Limit Changes for 2025: What to Know

IRS inflation adjustments typically mean higher contribution limits for the new year.

Kiplinger · Nov 1, 2024

IRS announces pension and retirement plan contribution adjustments for 2025

The IRS has announced an increase to the amount individuals can contribute to their 401(k) plans in 2025, to $23,500, up from $23,000 in 2024

The Independent UK · Nov 1, 2024

Six Ways High-Income Earners Can Optimize Their Tax Strategy

Reduce your tax liabilities by following these expert-recommended tips.

Kiplinger · Nov 1, 2024

Why the ultra wealthy are renouncing their U.S. citizenship

The ultrawealthy are joining “accidental Americans” in renouncing their passports.

Fortune · Nov 1, 2024

Three Advantages of These Underrated Accounts for Retirees

Using taxable accounts for some retirement savings in the 10 years before and after retirement can give you greater flexibility and benefit your heirs.

Kiplinger · Nov 1, 2024

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inkl · Nov 1, 2024

Are Credit Card Rewards Taxable?

Are credit card rewards taxable? It’s a question that might cross your mind as you're racking up points, miles, or cash back. After all, who doesn’t love a little extra something for their everyday spending? But when tax season rolls around, it's natural to wonder if those perks come with…

Kiplinger · Oct 31, 2024

IRS Expands Tax Breaks for Breast Cancer Screenings, Contraceptives

Now you can get a tax deduction or reimbursement for certain medical expenses, like over-the-counter birth control and condoms.

International Business Times · Oct 30, 2024

Biden Thanks Nigerian President For Binance Exec's Release – What Role Did White House Play?

U.S. President Joe Biden thanked his Nigerian counterpart after Binance compliance chief Tigran Gambaryan was freed from Nigerian custody last week, but the question is, did the White House play a key role in the former IRS agent's laborious journey to freedom?

Bored Panda · Oct 30, 2024

Karen Purposefully Puts Coworker’s Health At Risk As She Doesn’t Believe They’re Sick, Gets Fired

Some entitled coworkers take their arrogant behavior too far. And as this story shows, they deserve the harshest of consequences. The post Karen Purposefully Puts Coworker’s Health At Risk As She Doesn’t Believe They’re Sick, Gets Fired first appeared on Bored Panda.

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The Independent UK · Oct 29, 2024

Au pair charged in double homicide pleads guilty to manslaughter

A judge in Virginia has accepted a guilty plea in what prosecutors say was an elaborate double-murder scheme involving a Brazilian au pair, an IRS agent, a pediatric nurse and a man who had been lured into their home with promises of rough sex

International Business Times · Oct 29, 2024

Harris Supporters in Texas Receive Threatening Flyers Signed By 'Grand Dragon of Trump Klan': You Are In 'Our National Database'

Police are investigating flyers left for Kamala Harris supporters, claiming they are in a "national database" and will be audited by the IRS when "Donald Trump assumes the Presidency again."

Kiplinger · Oct 29, 2024

2025 Tax Deduction Changes for Those Over Age 65

Adjustments to the extra standard deduction can impact the tax bills of millions of older adults.

Kiplinger · Oct 29, 2024

Adoption Tax Credit: What You Need to Know for 2026

Due to a new tax law and annual IRS inflation adjustments, adoption tax credit amounts are higher.

Latin Times · Oct 28, 2024

Kamala Supporters in Texas Receive Threatening Flyers Signed By 'Grand Dragon of Trump Klan': You Are In 'Our National Database'

Police are investigating flyers left for Kamala Harris supporters, claiming they are in a "national database" and will be audited by the IRS when "Donald Trump assumes the Presidency again."

Kiplinger · Oct 23, 2024

The 2025 Estate Tax Exemption

The IRS increased the exemption before the GOP tax bill dropped. Find out how the plan could permanently change the threshold for estate taxes.

Latin Times · Oct 23, 2024

IRS Unveils Higher Standard Deductions And New Tax Brackets For 2025

In addition to higher standard deductions, the IRS has proposed several other significant changes for 2025. Notable adjustments include updates to long-term capital gains brackets, estate and gift tax exemption limits, and eligibility criteria for the child tax credit.

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