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The Latest Breaking News from IRS

If any of your retirement savings are in a tax-deferred account, then you will face required minimum distributions (RMDs). Not having a strategy could prove costly.

Kiplinger

Coca-Cola To Pay Billion In Back Taxes

Coca-Cola to pay billion in back taxes to IRS while appealing a 17-year-old tax court case.

Top News

Coca-Cola To Pay $6Bn In Back Taxes While Appealing IRS Ruling

Coca-Cola maintains that the IRS and the Tax Court misinterpreted the regulations and believes it will succeed on appeal.

International Business Times

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Coca-Cola to pay $6 billion in IRS back taxes case while appealing judge's decision

Coca-Cola Co. says it will pay $6 billion in back taxes and interest to the Internal Revenue Service while it appeals a federal tax court decision in a case dating back 17 years

The Independent UK

Congress Is Coming After Your Inherited IRA — What To Do

Just received an inherited IRA? If so, don't forget about taxes. For most non-spouses, it's vital to map out a withdrawal plan.

Investors Business Daily

Newly Wed Wants Advice On How To Protect Her $1.3M Home And Finances From 'Monster' Husband

An LA woman fell for a narcissist who is also a control freak but leaves breadcrumbs of hope to keep her invested in the relationship.

International Business Times UK

What are the IRS interest rates for late tax payments or refunds?

The IRS generally charges interest on unpaid taxes from tax deadline until the tax is paid in full. Learn more about this process.

The Street

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How to Fix a Trust Dilemma to Prevent a Tax Bomb

A bypass, or AB, trust splits into two trusts when one spouse in a married couple dies, cutting the estate taxes for beneficiaries.

Kiplinger

Withholding allowances: Are they still used on IRS Form W-4?

The IRS changed the way tax withholding is calculated in 2020, but you might be surprised by what happened to withholding allowances.

The Street

Is paying college athletes charity? Even in the confusing NIL era, it looks increasingly unlikely

The entrance of name, image and likeness deals in college sports has raised questions about what it means to be a tax-exempt charitable organization

The Independent UK

Woman Gets $30K Inheritance, Doesn’t Get Why Brother Keeps Asking Her For The $3K She Owes Him

A rather well-off man sparked an online debate when he wondered if he was wrong for demanding that his sister return a $3K loan after she received a $30K inheritance. The post Woman Gets $30K Inheritance, Doesn’t Get Why Brother Keeps Asking Her For The $3K She Owes Him first…

Bored Panda

Bitcoin 2024 Keynote: Who Nailed It, RFK Jr. Or Donald Trump?

Two of the biggest political names in the U.S. graced the Bitcoin 2024 conference in Nashville and delivered speeches that have now become a point of comparison among crypto users – who did it better?

International Business Times

Bitcoin 2024 Key Takeaways: $BTC-Centric Executive Orders, Strategic Reserve Bill, Firing Gensler

Bitcoin 2024 in Nashville has ended, but talks around the massive announcements during the conferences continue, especially with promises made by two presidential candidates, as well as a potential bill to make $BTC a U.S. strategic reserve asset.

International Business Times

"Two Men Plead Guilty to Acting as Illegal Agents of the PRC Government and Bribery"

From Thursday's press release by the Justice Department (see also the Indictment itself): JOHN CHEN and LIN FENG pled guilty to acting as unregistered agents of the government of the People's Republic of China ("PRC") and bribing an Internal Revenue Service ("IRS") agent in connection with a plot to target…

Reason

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The Street

Which Stellantis brands will be the first to go?

With 14 brands under its belt, some may be at risk of being axed.

The Street

Business tax deadline guide for 2024

Certain business tax deadlines exist for estimated tax payments, payroll taxes, W-2 forms, information returns, and other returns and tax payments.

Kiplinger

Who Will Be the Beneficiaries of Your Wealth?

Deciding who you want to inherit your wealth, as well as when and how, is a crucial first step in estate planning. Here are the four beneficiaries to keep in mind.

The Street

Venmo 1099-K: What to do if you get one

Learn about Form 1099-K from Venmo, including reporting requirements, calculating income, and implications for sole proprietors and resellers.

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Kiplinger

IRS Ends Inherited IRA Confusion: Annual RMDs Required for Many

The agency has resolved a major point of uncertainty for inherited IRA beneficiaries.

The Street

What is Form 1120-S? A guide to the U.S. income tax return for S corporations

With S corporations, or S-corps, the profits and losses of the business go directly to the shareholders. Learn the special rules of this tax status.

Kiplinger

Are Election Campaign Donations Tax Deductible?

Explore tax rules and contribution limits of political donations in light of the 2024 presidential race.

Fortune

The IRS just finalized the rules for inherited IRAs

Heirs must take annual withdrawals for 10 years.

Roll Call

Fact-checking Day 4 of the Republican National Convention - Roll Call

Trump's convention acceptance speech was a greatest hits of false and misleading claims about crime, immigration, the economy and more.

The Street

IRS tax penalty abatement and relief

There are different types of IRS tax penalty abatement and relief, and they can apply differently depending on the type of penalty you receive.

Kiplinger

Estate Planning for Millionaires

Estate planning for millionaires and high-net-worth families is a serious business. Set up your team, paperwork and tax plan to pass down wealth.

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