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The Latest Breaking News from IRS

How Trump has used the presidency to benefit himself and his allies

President Trump's administration is reviewing a large fund proposed for supporters. This comes amid scrutiny over various financial dealings. These include lawsuits against the government and deals favoring his family's businesses. The president has also engaged in significant stock trading and crypto ventures. His properties have hosted numerous political events.…

The Economic Times

Trump Abandons $1.8B Anti Weaponization Fund Following Fierce Republican Revolt Over Capitol Rioter Payouts

Donald Trump's $1.8 billion fund faces legal and political challenges, with the Justice Department halting the initiative amid Republican dissent and accusations of corruption.

International Business Times UK

Trump reconsidering $1.8 billion fund, AP source says, as Justice Department temporarily pauses it

President Donald Trump is rethinking a massive fund for his allies. The Justice Department has paused its implementation following a court order. This move comes amid strong opposition from Republican lawmakers concerned about oversight and potential payouts to participants of the January 6th Capitol riot. The fund was established to…

The Economic Times

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Trump's $1.8 billion 'weaponization' fund put on hold after fierce opposition from Congress

President Trump's proposed $1.8 billion fund for alleged government "weaponization" victims has been halted. Republican lawmakers in Congress strongly opposed the plan. This move comes as senators returned after a break and faced an impasse with the president over border funding. The fund faced legal challenges and political uproar. Federal…

The Economic Times

Trump reconsiders $1.8 billion ally compensation fund amid Republican backlash

US President Donald Trump was said to be reconsidering a controversial $1.8 billion compensation fund on Monday, created as part of a settlement with the IRS, amid legal challenges and growing opposition from Republicans. The Justice Department has paused implementation following a court order, raising doubts about the fund's future.

France 24

Trump Backs Down From Multi-Billion Dollar IRS Settlement Account Following Intense Congressional Rebellion

President Trump drops the £1.4 billion Anti-Weaponisation Fund following bipartisan opposition, legal challenges, and criticism from former Vice President Pence, marking a significant setback in his second term.

International Business Times UK

Federal Judge Demands a Second Look Into Trump's IRS Settlement, Saying It's 'Fraud'

A federal judge has reopened scrutiny of a proposed settlement in Donald Trump's $10 billion (£7.9 billion( IRS lawsuit after retired judges alleged misconduct and raised concerns over how the deal was reached and presented to the court.

International Business Times UK

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The Art of the Deal cont'd, cont'd

Serious questions about Trump's scheme to get the government to (a) put $1.776 billion into a slush fund under his control, and (b) drop ALL tax claims the IRS has against him, are, I'm happy to report, not going away.

Reason

'I truly supported it': Jill Biden admits she wanted Joe Biden to pardon Hunter, feared Trump would target their family

Former first lady Jill Biden has revealed that she supported former President Joe Biden's decision to pardon their son Hunter Biden.

The Times of India

Trump's Corrupt 'Settlement' With the IRS Hits Two Judicial Roadblocks

One order temporarily blocks money for the president's "Anti-Weaponization Fund." The other asks whether the agreement is a fraudulent "product of collusion."

Reason

Monday briefing: Does Trump’s $1.8bn ‘anti-weaponization fund’ signal a new era of law and disorder?

In today’s newsletter: What an unprecedented scheme reveals about an increasingly uninhibited leadership – and what it might mean for American democracy

The Guardian - UK

Could Vibe Coding Put Your Retirement Portfolio at Risk?

With more financial pros potentially turning to AI "agents", your private tax data — and nest egg — might be resting on a foundation of unverified code.

Kiplinger

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

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The Guardian - US

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’

International Business Times UK

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.

The Times of India

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.

Reason

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

Fabricated evidence, terminated grants, and taxes on jets.

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The Independent UK

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

Budget and the Bees

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…

Kiplinger

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

Reason

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.

The Economic Times

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…

Saving Advice

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...

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