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The Latest Breaking News from IRS

The Social Casino Tax Misconception: How the IRS Sees Through the "Sweepstakes" Label

The marketing around social casinos has done its job. Many of the players using these platforms have come to assume that the same argument insulates them from gambling taxes. It does not.

International Business Times

Received an IRS Letter? Taxpayer Confusion Grows Over Whether CP53E Notices Are Real

IRS notices about refunds and direct deposit information are confusing some taxpayers and raising concerns about scam letters.

Kiplinger

The Tax Extension Myth: Why Your October 15 Deadline Won't Save You From IRS Penalties

Many US taxpayers assume an IRS filing extension to 15 October also delays their bill, but advisers warn that is a costly myth.

International Business Times UK

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Millions Could Miss Out On IRS Refunds From Pandemic Era — What Should You Do Before July 10 Deadline

A court ruling allows US taxpayers to reclaim pandemic-era penalties, but a little-known July 2026 deadline could limit claims. Awareness is low, and the process requires careful documentation.

International Business Times UK

I'm a Financial Planner: This Is Why Your 2025 Tax Bill Shocked You (Plus, 5 Tips to Keep This Year's Taxes Under Control)

Many taxpayers were expecting higher tax refunds this year, only to find they owed money to the IRS. What was to blame — and how can you avoid it next year?

Kiplinger

Senate Says Lawyers Helped Wealthy Americans Dodge Taxes Through Puerto Rico Residency Claims

Sen. Ron Wyden, the committee's ranking Democrat, said Thursday that ultra-wealthy investors may have improperly shifted billions of dollars in income to Puerto Rico through questionable legal opinions provided by major law firms. The concern is not that Americans legally moved to Puerto Rico to reduce future taxes, but that…

Latin Times

Ask the Tax Editor, May 1: 10-Year Rule for Inherited IRAs

In this week's Ask the Editor Q&A, Joy Taylor answers questions on inherited IRAs and the 10-year cleanout rule for non-spousal IRAs inherited after 2019

Kiplinger

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Think Twice: 6 Bank Papers You Must Protect—and 3 You’re Better Off Throwing Away

Do you have a junk drawer full of random paperwork and documents? You’re not alone. Most people do, but what you keep in there could...

Saving Advice

New Wealth Taxes Could Drive Residents Out of High-Tax States in 2026: But Will You Still Owe Taxes After Moving?

With some states floating proposals to tax wealth, it's important to remember that relocation doesn't always end a state's tax reach.

Kiplinger

The Quiet Policy Changes That Are Reshaping Immigration in the U.S.

From fast-track deportations to data-sharing, a series of under-the-radar shifts is redefining how enforcement works

Latin Times

Facing ERC Rejection? IRS Just Gave You More Time — Here's What It Means For Your Refund

The IRS has introduced an extension option for businesses with disallowed Employee Retention Credit claims, allowing more time to resolve disputes without losing potential refunds.

International Business Times UK

How to Open a Custodial Roth IRA: A Guide for Grandparents

Time is a young investor’s greatest asset. Discover how small contributions today can evolve into a tax-free fortune by the time they retire.

Kiplinger

April 30 Deadline: If You Live in One of These 'Late States,' Your Taxes Are Due This Week

Residents in Delaware, Iowa, Virginia, and beyond must file 2025 state income taxes soon or request an extension. Don't miss the due date.

Kiplinger

The Retirement Income Change That Makes Your Tax Refund Disappear — Sometimes Overnight

A small retirement income change can wipe out your tax refund, sometimes overnight. Learn which income sources trigger it and why retirees get caught off guard.

GOBankingRates

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Saving Advice

5 Stealth Taxes on Social Security: Why 40% of Retirees Still Owe the IRS

If you thought Social Security was tax-free, you’re not alone—and that’s exactly the problem. Millions of retirees are shocked every year when they discover they...

Barchart

New Info on an IRS-Palantir Partnership Draws Critical Questions, but Could It Move the Needle for PLTR Stock?

Is Palantir’s newly revealed partnership with the IRS a powerful growth catalyst, or a rising surveillance risk that could weigh on PLTR stock?

International Business Times UK

Americans Are Getting Bigger Tax Refunds in 2026 — But Almost No One Is Spending Them

In 2026, US tax refunds increased by 11%, yet spending remains cautious. Many Americans are saving or paying down debt, reflecting economic uncertainty and rising costs.

Kiplinger

Feeling a Tax Bite? Municipal Bonds Could Be More Compelling Than You Think

If you just wrote a check to the IRS, that could be a reminder that today's municipal bond market may offer better after-tax outcomes than you might expect.

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news in one place.

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Kiplinger

Your Stock Portfolio Just Got Hammered: Here's a Tax-Smart Way to Recover

If your stock portfolio took a beating this spring, there's a little-known tax strategy that lets you defer — and potentially eliminate — capital gains taxes.

Saving Advice

5 Reasons People Over 50 Are Being Locked Out of Their Online Tax Accounts

If you’ve tried logging into your tax account recently and suddenly found yourself locked out, you’re not alone. Across the country, more taxpayers, especially those...

International Business Times UK

DOJ Leverages Trump Assassination Attempt to Demand Lawsuit Dismissal: 'Your Case Puts President Life at Grave Risk'

The Justice Department demands the dismissal of a lawsuit against White House ballroom construction, citing security risks after an attack on President Trump at the Washington Hilton.

Latin Times

Trump's $10 Billion IRS Lawsuit Teeters After Judge Flags Glaring Constitutional Problem

President Trump's $10 billion lawsuit against the IRS faces legal challenges due to potential conflicts of interest, as he sues agencies under his own executive authority.

International Business Times UK

Trump's $10 Billion IRS Lawsuit Teeters After Judge Flags Glaring Constitutional Problem

President Trump's $10 billion lawsuit against the IRS faces legal challenges due to potential conflicts of interest, as he sues agencies under his own executive authority.

International Business Times UK

Trump Ordered to Explain $10B Lawsuit Against His Own Government That Judge Fears Is an Attempt to Secure Fraudulent Payouts

A federal judge questions the legitimacy of Donald Trump's $10 billion lawsuit against the IRS, citing constitutional concerns over a sitting president suing agencies he controls.

The Free Financial Advisor

Why Large Itemized Deductions Can Trigger a 2026 Refund Review

Tax season always brings a mix of anticipation and anxiety, especially when a refund looks bigger than expected. A hefty return can feel like a reward, but it can also raise a red flag if the numbers drift too far from typical patterns. The IRS uses advanced screening tools to…

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