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The Latest Breaking News from IRS

10 Things You’re Not Allowed to Do With Lottery Money

We’ve all dreamed of winning the lottery. One day, you’re broke. Next, you’re holding millions in your hands. But the reality is that lottery money doesn’t give you unlimited freedom. There are laws, tax codes, and financial regulations that place strict limits on how you can use your winnings. In…

Clever Dude

7 Tax Reporting Changes Hitting Seniors Who Do Gig Work in January

Gig work has become an important source of supplemental income for retirees. Driving for rideshare companies, freelancing online, or selling crafts provides flexibility and helps...

Saving Advice

Wolfspeed Just Got a $698 Million Lifeline—Here’s Why That Changes Everything

Wolfspeed secures a cash infusion from the IRS, fortifying the balance sheet and shifting the narrative from survival to focused operational execution.

MarketBeat

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He Has 27 Rentals, Makes $15,000 A Month, But Hasn't Paid Taxes In A Decade. 'For A Guy Who Doesn't Pay Taxes, You Shouldn't Be This Broke'

Claud from Orlando, Florida, called into “The Ramsey Show” with a confession: he hasn't filed his federal taxes since 2016. Despite owning 27 rental properties and reportedly bringing in up to $15,000 a month, Claud is struggling with cash flow and facing a looming financial mess.

Benzinga

3 Year-End Tax Strategies for Retirees With $2 Million to $10 Million

To avoid the OBBB messing up your whole tax strategy, get your Roth conversions and charitable bunching done by year's end.

Kiplinger

IRS Annual Limits 2026: '$24,500 Cap Won't Rescue Middle-Class Savings,' Experts Say

The IRS raises 2026 401(k) contribution limits to $24,500, but experts warn this increase won't solve the retirement savings crisis facing middle-income Americans.

International Business Times UK

The IRS Moves To Keep Its Cut of Porn Tips

The agency has proposed excluding tips received from "pornographic activity" from a new tipped wage deduction.

Reason

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HMRC launches US-style ‘reward’ scheme for exposing tax dodgers

Successful whistleblowers could receive hundreds of thousands from the tax authority

The Independent UK

Trump's ICC Fears Heighten As He's Hit With Landmark Human Rights Complaint Over Deadly Raid

The first formal human-rights complaint against Trump's Caribbean boat strikes secures backing from a Colombian family.

International Business Times UK

The Affordability Con Job

Plus: Tennessee election results, Three Mile Island controversy, immigration enforcement will hit Somali community, and more...

Reason

Revealed: US veterans affairs to share immigration data about non-citizen workers with ‘appropriate agencies’

Exclusive: The move prompts fears the data will be sent to ICE to further the Trump administration’s immigration crackdown

The Guardian - US

Elizabeth Warren Has A Prophecy About The 2026 Tax Season, Says Demise Of Direct File Means 'Huge Profits' For Some And Americans Getting Ripped Off

Sen. Elizabeth Warren (D-Mass.) on Tuesday blasted expected price hikes from tax-prep giants TurboTax and HR Block, blaming Trump administration policies that killed the IRS's free Direct File system and layered on new Republican tax breaks that make filing more complicated for millions of Americans.

Benzinga

IRS OnlyFans Crackdown: Yoga and Cooking Channels at Risk of 'Porn' Label, Accountants Warn

Federal regulators ban 'pornographic activity' from tax-free tips but provide no definition, leaving yoga instructors, chefs, and creators vulnerable to IRS audits.

International Business Times UK

7 IRS Rule Changes Affecting Retiree Withholding Early in the Year

Taxes are a reality for retirees, even those living on fixed incomes. Withholding rules determine how much money is taken out of Social Security, pensions,...

Saving Advice

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news in one place.

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GOBankingRates

4 Moves Retirees Need To Make Now To Prepare for 2026 Tax Rules

Tax law changes every now and again, so it's good to keep abreast of the new updates that might affect your life. Even if you're retired, some recent changes to income tax brackets and tax deductions...

The Independent UK

5 Financial To-Dos Before the End of 2025

Set yourself up for success as the year winds down

The Independent UK

IRS agents will be required to watch OnlyFans to determine if content fits ‘no tax on tips’ criteria

Campaigners have claimed that defining what pornography actually is could be too difficult to determine whether OnlyFans creators should be exempted from the ‘no tax on tips’ law

Thousandaire

The Hidden Tax Trap That Turns Your $10,000 Side Hustle Into a $4,000 Surprise Bill

Picture this: you’ve finally cracked the code. Your freelance gig, whether it’s designing logos, editing podcasts, or ghostwriting blog posts, pulls in a cool $10,000 this year. You’re high‑fiving yourself, imagining new gear, maybe a vacation, or just the sweet relief of not living invoice to invoice. Then tax season…

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news in one place.

100's of premium titles.
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Thousandaire

The One Crypto Change That’s Making Small Investors the IRS’s New Favorite Target

Crypto once felt like the Wild West, with anonymous wallets, digital freedom, and no middlemen in sight. For years, small investors rode the wave, dabbling in Bitcoin or Ethereum and even flipping NFTs, all under the quiet assumption that the IRS wasn’t watching too closely. That illusion has now collapsed,…

Kiplinger

How Are I Bonds Taxed? 8 Common Situations to Know

Series I U.S. savings bonds are a popular investment, but the federal income tax consequences are anything but straightforward.

Benzinga

After Eliminating 25% Of Its Staff, The IRS Is Turning To AI Agents. 'It Would Be Negligence' Not To Use AI Tools

The IRS laid off or lost a quarter of its workforce between January and May, dropping from 103,000 to around 77,000 employees, according to the October Treasury Inspector General for Tax Administration report. Now, it’s turning to artificial intelligence to help fill the gaps.

Saving Advice

Did Your Employer Just Change Your Matching Contribution to Roth?

Many workers recently discovered that their employer’s matching contributions are no longer going into traditional pre-tax accounts but instead into Roth accounts. This change may...

Kiplinger

New 2026 Tax Change Could Mean More for Your IRA and 401(k) Savings

Here's how the new IRS inflation adjustments will increase the contribution limits for your 401(k) and IRA in the new year.

International Business Times UK

$2,000 Stimulus Check: Why Trump's Proposed Payment Is 'Highly Unlikely' To Arrive Before 2026

Here's why President Trump's tariff dividend is 'highly unlikely' to arrive before 2026. Experts detail the $300 billion funding gap and warn against fraud.

Kiplinger

Should You Max Out Your 401(k)? We've Got Answers

Conventional wisdom says, 'Contribute the maximum to a traditional 401(k) if you can.' But there are hidden downsides to putting all your eggs in one basket.

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