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The Latest Breaking News from IRS

Fewer IRS Audits Doesn't Mean It's a Tax Cheat Free-For-All

Two things can be true at the same time. Yes, IRS is conducting fewer audits. No, it is not a free-for-all for tax cheats.

Kiplinger

'Not Worth the Paper It's Written On': Trump's $1.8 Billion IRS Deal Triggers Tax Reckoning Warning

Trump's $1.8bn tax settlement with the DOJ offers temporary immunity but faces scrutiny from legal experts. Future administrations could challenge its validity, especially at the state level.

International Business Times UK

Judge reopens Trump’s IRS suit to examine $1.8bn settlement with justice department

Investigation to establish whether ‘anti-weaponization’ fund is ‘product of collusion and itself a fraud’

The Guardian - US

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Trump Faces New Court Scrutiny After Judge Reopens $10 Billion IRS Lawsuit and Orders Answers to 'Grievous Allegations'

A federal judge has reopened Trump's $10 billion lawsuit against the IRS, questioning the settlement process & raising concerns about potential deception.

International Business Times UK

Trump suffers twin court setbacks as judges clap back at Kennedy center renaming and IRS deal

TOI Correspondent from Washington: US President Donald Trump suffered a pair of legal setbacks on Friday, adding to a growing list of court rulings that have frustrated his efforts to reshape federal institutions and advance his MAGA agenda even as he is stuck in a diplomatic dead-end over Iran.

The Times of India

Short Circuit: An inexhaustive weekly compendium of rulings from the federal courts of appeal

Fabricated evidence, terminated grants, and taxes on jets.

Reason

Could Trump be on the hook for taxes on his $1.8B ‘slush fund’? Some experts say yes

‘The tax analysis is actually not all that complicated,’ Duke University law professor Lawrence Zelenak said

The Independent UK

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The ‘Grandparent Gift’ Trap: Why Writing That Check for Your Grandkids Could Have Unwanted Tax Consequences

Grandparents love helping their grandkids financially, whether it is a birthday check, help with college tuition, or money for a first home. But what feels like a generous family gesture can sometimes create unexpected paperwork, tax reporting issues, or long-term estate planning problems. The good news is that most gifts…

Budget and the Bees

How to Keep Track of HSA Receipts and Paperwork

Learn which HSA records to keep, how long to keep them and the easiest ways to stay organized

Kiplinger

Republicans Shrug at Trump's Outrageous Corruption

Any self-styled advocate for limited government should be furious about Trump's $1.8 billion slush fund, but few Republicans are willing to denounce it.

Reason

The Art of the Deal, cont'd

Thirty-five retired federal judges ask the court to re-open Trump's case against the IRS because the dismissal of the claims constitutes, put simply, a fraud.

Reason

Trump Accounts app for kids goes live: Who qualifies for $1,000 government deposit, how parents can apply, launch date, app features, contributions and withdrawal rules explained

Trump Accounts for kids app explained: Parents can now access the Trump Accounts mobile app, a new government savings program for children. Launched May 28, the app offers financial literacy tools ahead of the official account debut on July 4, 2026. Eligible children born between 2025-2028 will receive a $1,000…

The Economic Times

8 Financial Decisions That Can Backfire After Your Spouse Passes Away

Losing a spouse is one of the most emotionally devastating experiences a person can go through, and unfortunately, major financial decisions often have to be...

Saving Advice

7 Money-Saving Benefits Older Americans Are Missing Without Realizing They Qualify for Them

Millions of older Americans are stretching every dollar right now, but many are unknowingly leaving valuable financial assistance on the table. Rising grocery costs, higher...

Saving Advice

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The Guardian - US

Bipartisan group of ex-federal judges challenges Trump’s $1.8bn ‘anti-weaponization’ fund

Lawsuit says settlement fund was ‘fraud on the court’ that would funnel taxpayer dollars to Trump allies

Kiplinger

IRS CP53E Letters Could Change Following Taxpayer Backlash

Millions of taxpayers received confusing IRS refund letters this year. Could improvements be on the way?

Saving Advice

Tax Season May Be Over, But Many Seniors Are Still Getting Hit With Surprise Bills They Didn’t See Coming

For many retirees, tax season feels like it should end the moment the return is filed and the refund check arrives. Unfortunately, that is not...

Kiplinger

Protecting Your Noncitizen Spouse: The IRS Strategy for Cross-Border Couples

Noncitizens don't get the unlimited marital deduction. Learn how the QDOT bridges this gap to defer estate taxes and protect your family's legacy.

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news in one place.

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Latin Times

Bipartisan Group of Ex-Judges Moves to Reopen Trump IRS Case, Claim 'The Court Was Deceived'

The former judges argue that Trump and the federal government failed to disclose a settlement agreement when they moved to voluntarily dismiss the case earlier this month

The Free Financial Advisor

Michigan Drivers Say One Everyday Expense Is Eating More of the Budget Than Gasoline

Fuel prices often grab headlines, but many Michigan drivers now point to a different cost that drains their wallets even faster. Monthly transportation budgets no longer revolve around gas alone, and the shift surprises many households. Rising expenses tied to vehicle ownership have reshaped what it means to “afford” a…

Ballotpedia

Nineteen states have conformed to the One Big Beautiful Bill Act’s No Tax on Tips deduction

Welcome to the Thursday, May 28, 2026, Brew.

We Got This Covered

Donald Trump just got bashed by the one outlet we thought would always have his back

Et tu?

The Independent UK

Trump’s beloved hometown paper shreds him over $1.8B ‘anti-weaponization’ fund and his and sons’ stock deals: ‘Looks terrible’

‘None of it is a good look, however legal or aboveboard it may in fact be,’ the editorial board wrote

Budget and the Bees

The ‘Math Error’ Wave: Why More Taxpayers Are Receiving IRS ‘Correction’ Letters in 2026

Opening your mailbox and seeing an IRS notice can feel like your stomach just dropped. In 2026, more taxpayers are reporting unexpected IRS correction letters tied to “math errors,” refund adjustments, or return mismatches. In many cases, these notices are not full audits, but they can still affect refunds, balances…

Everybody Loves Your Money

The Hidden Tax Problem Facing People Who Sell Their Homes Too Quickly

The housing market moves fast, and many homeowners feel tempted to cash in the second prices climb. A quick sale can look like an easy financial win, especially after watching home values jump over the last few years. Some sellers picture a massive payday with zero downside beyond moving boxes…

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