The Latest Breaking News from IRS

Estate-Tax Thresholds Are Changing—What Couples Should Review

For many married couples, estate planning feels like something reserved for the ultra-wealthy. However, changing estate-tax thresholds are forcing more middle- and upper-income households to pay attention to how their assets are structured and protected. Federal estate tax exemptions have increased dramatically over the last several years, but many experts…

Dinks Finance · Jun 2

Could the New $6,000 Senior Bonus Tax Deduction Hurt Social Security?

Analysis shows that a new tax break designed to help older adults could weaken what is now a key safety net for millions of retirees.

Kiplinger · Jun 2

Millions of Americans Miss This June Tax Deadline Every Year — And Pay a Penalty for It

Tax season may feel like ancient history once April passes, but the Internal Revenue Service still has another important date waiting on the calendar. Every June, millions of Americans face a tax deadline that receives far less attention than Tax Day. Unfortunately, many taxpayers do not realize it exists until…

The Free Financial Advisor · Jun 2

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 · Jun 2

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 · Jun 2

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 · Jun 2

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 · Jun 2

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 · Jun 1

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 · Jun 1

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 · Jun 1