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The Latest Breaking News from IRS

Teslas Now Appear Eligible For $4,000 Used EV Tax Credit

The IRS updated its website and it appears that used Tesla products under $25,000 could potentially qualify for the $4,000 federal tax credit.

InsideEVs

Claiming the Employee Retention Tax Credit is an IRS Audit Red Flag: Kiplinger Tax Letter

Tackling improper ERTC claims is one of the IRS’s biggest enforcement priorities.

Kiplinger

Tax Court Filing Deadlines: Kiplinger Tax Letter

How broad is a U.S. Supreme Court case on Tax Court filing deadlines?

Kiplinger

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The far-right financier giving millions to the Republican party to fight ‘woke communists’

Financier Thomas Klingenstein has become one of the largest donors to the party and has increasingly used his resources to pursue a hard-edged version of rightwing politics

The Guardian - US

Too close to the son: could Hunter Biden cost Joe the election?

Joe Biden has always presented himself as the “loving patriarch” of a close-knit family, said The New York Times, one that has endured more than its share of tragedy, including the deaths of Biden’s first wife and infant daughter in a car crash in 1972, and of his older son…

The Week

‌Iniciativa de procesamiento sin papel del IRS para ahorrar $ 2.6 billones en el déficit federal de EE. UU.

‌‌Yellen elogia el programa del IRS como un cambio de juego, insta al Congreso a que continúe apoyando.

Zenger

IRS’s Paperless Processing Initiative To Save $2.6 Trillion In U.S. Federal Deficit

Yellen lauds IRS program as game-changer, urges Congress for continued support.

Zenger

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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

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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Kiplinger

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

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

Fortune

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.

Kiplinger

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.

Dynamite News

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:

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The Independent UK

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 Hindu

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…

Kiplinger

The 10-Year Rule for Inherited IRAs

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

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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