The Latest Breaking News from IRS

Bank transfers are a normal part of life. You pay rent, send money to family, or move funds between accounts. But sometimes, a simple transfer can set off alarms at the IRS. This can lead to reviews, questions, or even audits. Most people don’t realize how easy it is to…

Inheriting money or property should feel like a blessing. But for many families, it turns into a nightmare. Taxes can eat up a huge chunk of an inheritance if you make the wrong moves. Some people lose almost everything overnight because of simple mistakes. These errors are easy to make,…

Every year, millions of dollars slip through the cracks of the tax code—legally. Wealthy individuals and large corporations have long relied on a range of obscure provisions to minimize their tax liabilities. But this year, lawmakers finally closed some of the most persistent and controversial loopholes, and they did it…

Family trusts are a powerful tool for protecting assets, reducing estate taxes, and managing wealth across generations. But just because a trust is legal doesn’t mean it’s immune to IRS scrutiny. In fact, certain tax filings can trigger reviews, audits, or even penalties, especially when red flags pop up. Whether…

Setting up a trust can be one of the smartest moves in estate planning. It allows you to pass assets to your heirs while avoiding...

Inheritance can feel like a safety net. You expect it to help your family, maybe even change lives. But estate tax traps can quietly eat away at what you leave behind. Many people don’t see these traps coming. They’re hidden in paperwork, deadlines, and rules that seem simple but aren’t.…

When you think about what happens after you die, taxes probably aren’t the first thing on your mind. But the truth is, taxes don’t stop when life does. Many people assume their assets will simply pass to loved ones, but the IRS and state tax agencies often get a final…

Saving for retirement is a big deal, but managing those savings can be just as important. Many people set up retirement accounts and then forget about them until it’s time to retire. But what happens when you need to start taking money out? Automatic withdrawal triggers can help. These features…

The IRS will offer religious congregations more freedom to endorse political candidates without jeopardizing their tax-exempt status, the agency said in a July 2025 court filing. President Donald Trump has previously vowed to abolish the Johnson Amendment, which bars charitable nonprofits from taking part in political campaigns – although the…

A recent episode of “The Ramsey Show” sparked frustration and sympathy after a caller revealed she was accidentally overpaid $48,000 by her employer—and now, nearly a year later, the company wants the full amount returned.

You’d think that after decades of paying into the system, Baby Boomers would get every break possible during retirement. But when it comes to taxes,...