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The Latest Breaking News from IRS

IRS Audits Very Few Returns — But These 5 Triggers Put You at Risk

A tax return travels through a system built to notice patterns, flag outliers, and question anything that looks even slightly off. That system doesn’t need to audit everyone to stay effective, and it doesn’t try to. The IRS audits a very small percentage of returns each year, which sounds comforting…

The Free Financial Advisor

Your Mailed Tax Return Could Be Late Under New USPS Postmark Rules: Here's Why and How to Avoid IRS Penalties

If you wait until April 15 to mail your IRS tax return, you might be in for an unpleasant surprise.

Kiplinger

3 Side Gig Tax Deductions People Misuse — and What Experts Say To Do Instead

Deductions can cut your side gig tax bill, but if you misuse them, you may risk penalties. Experts explain three common write-off mistakes the IRS flags.

GOBankingRates

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If You Retired Early in 2025, What Taxes Do You Have To Worry About?

Before you head for the golf course or get on that cruise ship, below are some taxes you should know about.

GOBankingRates

I Asked ChatGPT Which Deductions Seniors Most Commonly Miss at Tax Time

GOBankingRates asked ChatGPT which tax deductions seniors most commonly miss to find out how much more money they could be saving -- here's what it said.

GOBankingRates

The IRS Doesn’t Warn You Twice — Tax Deadlines That Could Cost You Thousands

Miss a deadline with the IRS, and the clock doesn’t pause; it charges. Every day that slips by can quietly stack penalties, interest, and stress until a simple oversight turns into a serious financial hit. The system runs on strict timelines, and it doesn’t slow down to offer reminders or…

The Free Financial Advisor

I’m a Tax Preparer: The Refund Error That Triggers IRS Letters Most Often

Filing for a refund? A tax preparer reveals the error most likely to prompt an IRS letter and slow down your return.

GOBankingRates

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7 Mistakes To Avoid When You File a Tax Extension

Here are seven mistakes to avoid when you file a tax extension to save you on penalties, interest and unnecessary financial stress.

GOBankingRates

Expect Delays: IRS Help Less Accessible, Refunds May Take Longer, Say Experts

If you’re counting on a fast tax refund this year, you may want to prepare for delays—and frustration. Experts warn that the IRS is entering...

Saving Advice

IRS Warning: Millions Risk Losing Their Tax Refund If They Miss This Deadline

If you haven’t filed your taxes from a previous year, you could be leaving money on the table—and the clock is ticking. The Internal Revenue...

Saving Advice

Trump promised tax refunds would jump ‘$1,000 or more’. The gains will go to wealthy Americans, experts say

Less than half of Americans making under $100,000 will get an increased refund, nonpartisan policy group finds

The Independent UK

No, Elon Musk doesn't want to give you a $5,000 tax refund — it's a scam, here's what to look out for

Elon Musk's name is being used in crypto scams once again.

TechRadar

The surprising downsides of a big tax refund

‘You are basically giving the IRS an interest-free loan,’ one expert said

The Independent UK

The IRS Letter You Shouldn’t Ignore – and What To Do If You Get One

A plain white envelope just landed in the mailbox, and it carries more weight than it looks. The return address reads IRS, and suddenly everything else on the to-do list feels a lot less important. That single piece of mail can trigger a rush of questions, a spike of stress,…

The Free Financial Advisor

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The Free Financial Advisor

How Overlooking a Simple Bank Error Can Lead To Government Garnishments

A single wrong number can start a chain reaction that no one sees coming. One misplaced payment, one misapplied deposit, or one unnoticed fee can quietly shift an account off course and keep drifting until it crashes into something far bigger. That “something” often carries official letterhead, strict deadlines, and…

GOBankingRates

What Happens If You Owe Taxes and Can’t Pay by the Deadline? Here Are Your Real Options

Owe taxes and can’t pay by the IRS deadline? Experts explain penalties, interest, payment plans and what you can do next to avoid escalating tax debt.

GOBankingRates

You Could Miss Out on $686 or More as the Deadline To File for Unclaimed 2022 Tax Refunds Nears

Millions of Americans still haven’t claimed their 2022 tax refunds. With the IRS deadline near, you could miss out on $686 or more.

The Independent UK

IRS touts a 24% increase in tax refunds compared to the previous administration

The Trump administration is highlighting a 24% increase in individual tax refunds this season compared with those issued during the previous administration

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GOBankingRates

5 Refund ‘Boost’ Tips That Backfire, According to Tax Pros

Saving Advice

Most Seniors Miss This IRS Mileage Write-Off—Are You Losing Money on Medical Trips?

If you’re driving to doctor appointments, physical therapy, or even picking up prescriptions, you could be quietly missing out on a valuable tax break. Many...

Saving Advice

This One Tax Form Is Helping Seniors Keep More of Their Income—Here’s How

If you’re over 65, there’s a good chance you could be leaving money on the table without even realizing it. A little-known tax tool—Form 1040-SR—is...

GOBankingRates

Here are some of the most popular hustles that can easily hit that $600 level.

Kiplinger

First-Time World Cup Bettors Face New 2026 Tax Rules

With millions of fans backing favorites and a new 90% limit on loss deductions, your 2026 tournament strategy needs a substitution.

GOBankingRates

The Paycheck Gaps Most Workers Don’t Notice Until Tax Time

The "paycheck gap" refers to gross pay versus net pay -- or what workers think they're earning on paper versus what they're actually keeping after paying taxes to the IRS, according to Andrew Latham,...

GOBankingRates

5 Mistakes Freelancers Make That Could Trigger an IRS Audit

By avoiding these common mistakes, freelancers can make their tax return less likely to be flagged for further scrutiny and protect hard-earned profits.

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