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The Latest Breaking News from IRS

New Principal Chief Commissioner of Income Tax, Kerala, takes charge

Jayanthi Krishnan, a 1988 batch IRS Officer, becomes Principal Chief Commissioner of Income Tax, Kerala.

The Hindu · Feb 2, 2024

Tax Relief for Connecticut and Rhode Island Storm Victims

Storm victims in Connecticut and Rhode Island have extended IRS tax deadlines.

Kiplinger · Feb 2, 2024

FTX Scraps Relaunch Plans, Expects Full Customer Repayment

FTX, the collapsed crypto exchange founded by Sam Bankman-Fried, said it has abandoned plans to relaunch and will instead focus on liquidating assets so it can repay customers.

International Business Times · Feb 1, 2024

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

Five Tax Breaks Business Owners Might Not Know About

Did you know you could get a break on your company’s taxes by hiring your kids? Read on for more strategies to help you lower your business’ taxes.

Kiplinger · Jan 31, 2024

The IRS got $80B to help people and chase rich tax avoiders. Here's how it's going

Commissioner Danny Werfel says the IRS is seeing "very powerful early results" in its efforts to improve enforcement on high wealth is paying off.

WEKU · Jan 30, 2024

Ex-IRS contractor sentenced to 5 years in prison for leaking Trump's tax records

Charles Edward Littlejohn of Washington, D.C., gave data to The New York Times and ProPublica between 2018 and 2020 in leaks that appeared to be "unparalleled in the IRS's history," prosecutors said.

WEKU · Jan 30, 2024

IRS introduces new free filing system for taxpayers

Learn about the start of tax season and the new filing options offered bythe IRS, including a pilot program for free electronic filing that could save taxp...

Former IRS contractor sentenced to prison for tax records leaks - Roll Call

A federal judge sentenced a man to five years in prison Monday for the leak of tax documents of Donald Trump and others.

Roll Call · Jan 29, 2024

Hate taxes? H&R Block's new AI chatbot aims to reduce your tax frustrations

TechRadar · Jan 29, 2024

Bigger Check? How New IRS Brackets Affect Can Affect Your 2024 Tax Refund

Latin Times · Jan 29, 2024

The IRS is piloting new software that could let you file your taxes for free

Direct File will be open only to people with certain tax situations living in certain states at the outset. The free service has been criticized by Republicans and tax preparation companies.

WEKU · Jan 29, 2024

Senator Scott accuses Biden administration of being lawless on border

Florida Republican Senator Rick Scott discusses the need for border security and accountability in enforcing immigration laws, as well as his concerns rega...

Tax Tips for Filing Your 2023 Tax Return

From filing early to electronic filing, these tax tips will help speed up the process of filing your 2023 tax return.

Kiplinger · Jan 26, 2024

IRS delays Form 8300 reporting for digital asset transactions

The new IRS guidance delays Form 8300 reporting for digital asset transactions, offering relief and clarity to businesses in the crypto industry.

From Tax-Deferred to Tax-Free: Navigating Taxes in Retirement

Here are some considerations to keep in mind to help you spend less of your retirement savings and Social Security benefits on taxes.

Kiplinger · Jan 23, 2024

What Is a Safe Harbor 401(k)?

Part of the Small Business Job Protection Act, this type of 401(k) makes it easier for small businesses to offer retirement plans to their employees.

Latin Times · Jan 18, 2024

Fiscal Help: How to File Taxes as an Immigrant

A step-to-step guide on how to file taxes as an immigrant

Hunter Biden's legal troubles escalate amid mounting evidence. DOJ dismisses lawsuit

This content discusses the ongoing legal troubles of Hunter Biden, including the authenticity of his laptop and his response to IRS whistleblowers, with a ...

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WEKU · Jan 17, 2024

Lawmakers call for IRS scrutiny of Trump-backed nonprofit that aids Jan. 6 rioters

A nonprofit that supports defendants charged in the Jan. 6, 2021, insurrection is facing scrutiny over its political activity. "The IRS should investigate this case immediately," said one congressman.

InsideEVs · Jan 15, 2024

Tesla Can Now Apply The $7,500 Tax Discount Directly To The Purchase Price Of EVs

The point-of-sale rebate can be applied when purchasing a Model Y or Model X Dual-Motor. That means the purchase price is $7,500 lower.

Kiplinger · Jan 14, 2024

What Is 401(k) Student Loan Matching?

Strapped student loan borrowers can pay down debt and boost their retirement accounts.

Kiplinger · Jan 13, 2024

Roth IRA Contribution Limits for 2026

Roth IRAs allow you to fund your retirement with after-tax dollars while you're working, and then withdraw those contributions tax-free when you retire. Here's a look at 2026 limits and income-based phaseouts.

Kiplinger · Jan 13, 2024

How a Backdoor Roth IRA Works (and Its Drawbacks)

High earners can get around income limits on Roth IRA contributions by converting other IRA accounts to Roths, but there are some caveats.

Roll Call · Jan 12, 2024

Johnson: Topline spending pact won’t be torn up - Roll Call

Speaker Mike Johnson reiterated support for the spending agreement he negotiated in face of opposition from House Freedom Caucus members.

The Independent UK · Jan 12, 2024

IRS says it collected $360 million more from rich tax cheats as its funding is threatened yet again

The IRS says it has collected an additional $360 million in overdue taxes from delinquent millionaires

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