The Latest Breaking News from IRS

Tax Records You May Be Throwing Away Too Soon

Tax season ends, the refund arrives, and suddenly that stack of paperwork looks like clutter begging for a trip to the recycling bin. It feels satisfying to clear the desk, but that quick cleanup can create a frustrating headache months or even years later. Some tax records deserve a much…

The Free Financial Advisor · Aug 9

Quote of the day by Denzel Washington: "Without commitment, you'll never start. But more importantly, without consistency..." American actor's powerful reminder that commitment gets you moving, but consistency is what turns goals, dreams and hard work into lasting success

Quote of the day by Denzel Washington, “Without commitment, you'll never start. But more importantly, without consistency, you'll never finish,” offers a powerful reminder that success is not only about taking the first step but also about staying committed, building consistency and continuing to work toward your goals even when…

The Economic Times · Aug 8

One High-Income Year Could Raise Your Medicare Premiums Later

A particularly profitable year in retirement can come with a delayed expense that catches some Medicare beneficiaries by surprise. Selling investments, realizing a large capital...

Saving Advice · Aug 8

5 IRA Contribution Errors That Can Trigger Extra Tax

An IRA can be one of the most useful tools for building retirement savings, but a small contribution mistake can turn a smart money move into an unwanted tax headache. The IRS sets annual limits and eligibility rules, and missing those details can create extra paperwork, penalties, or tax complications.

The Free Financial Advisor · Aug 8

IRS tax credit could mean up to $8,231 for eligible workers: Who qualifies for the Earned Income Tax Credit, how much you could receive and what you should check before filing

The IRS Earned Income Tax Credit (EITC) can provide significant tax relief to eligible low- and moderate-income workers. For tax year 2025, the maximum credit reached $8,231 for taxpayers with three or more qualifying children, while eligible workers without children could receive up to $664. The credit is refundable, meaning…

The Economic Times · Aug 8

Home-Sale Fees That Can Take a Bigger Bite Out of Your Profit Than Expected

Selling a home can feel like watching a giant scoreboard where the listing price sits in bright lights while dozens of smaller costs quietly nibble away at the final number. A smart seller looks beyond the sale price and learns which expenses can affect the money left after closing.

Everybody Loves Your Money · Aug 8

Todd Blanche confirmed by Senate as attorney general

The Senate on Saturday approved acting Attorney General Todd Blanche to permanently lead the Department of Justice after a high-drama confirmation process.  The 50-49 vote to confirm Blanche fell mostly along party lines, with two Republicans breaking ranks to oppose him. Sens. Susan Collins of Maine and Lisa Murkowski of…

Roll Call · Aug 8

6 Part-Time Jobs Retirees Can Explore Before the Holiday Hiring Rush

The weeks before the holiday hiring rush can be a surprisingly good time for retirees to decide whether a little extra work belongs in their...

Saving Advice · Aug 7

Donald Trump's attorney general pick clears key hurdle as GOP senator backs Blanche

Senator Bill Cassidy will support Todd Blanche's nomination for attorney general. This decision likely ensures Blanche's confirmation to lead the Justice Department. Opposition from two other Republicans had previously cast doubt on the nomination. Concerns centered on a settlement involving tax audit immunity and a proposed fund. Cassidy stated his…

The Economic Times · Aug 7

Retirement Planning Solutions for Small Business Owners: Options, Updates, and Practical Guidance

Key Takeaways Small business owners have several retirement plan options, each with unique benefits and considerations. Recent legislative changes and new financial products have...

Saving Advice · Aug 7