The Latest Breaking News from IRS

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

The Independent UK · May 29

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…

Budget and the Bees · May 29

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

Kiplinger · May 29

7 Money-Saving Benefits Older Americans Are Missing Without Realizing They Qualify for Them

Millions of older Americans are stretching every dollar right now, but many are unknowingly leaving valuable financial assistance on the table. Rising grocery costs, higher...

Saving Advice · May 28

Bipartisan group of ex-federal judges challenges Trump’s $1.8bn ‘anti-weaponization’ fund

Lawsuit says settlement fund was ‘fraud on the court’ that would funnel taxpayer dollars to Trump allies

The Guardian - US · May 28

IRS CP53E Letters Could Change Following Taxpayer Backlash

Millions of taxpayers received confusing IRS refund letters this year. Could improvements be on the way?

Kiplinger · May 28

Tax Season May Be Over, But Many Seniors Are Still Getting Hit With Surprise Bills They Didn’t See Coming

For many retirees, tax season feels like it should end the moment the return is filed and the refund check arrives. Unfortunately, that is not...

Saving Advice · May 28

Protecting Your Noncitizen Spouse: The IRS Strategy for Cross-Border Couples

Noncitizens don't get the unlimited marital deduction. Learn how the QDOT bridges this gap to defer estate taxes and protect your family's legacy.

Kiplinger · May 28

Bipartisan Group of Ex-Judges Moves to Reopen Trump IRS Case, Claim 'The Court Was Deceived'

The former judges argue that Trump and the federal government failed to disclose a settlement agreement when they moved to voluntarily dismiss the case earlier this month

Latin Times · May 28

Michigan Drivers Say One Everyday Expense Is Eating More of the Budget Than Gasoline

Fuel prices often grab headlines, but many Michigan drivers now point to a different cost that drains their wallets even faster. Monthly transportation budgets no longer revolve around gas alone, and the shift surprises many households. Rising expenses tied to vehicle ownership have reshaped what it means to “afford” a…

The Free Financial Advisor · May 28