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The Latest Breaking News from IRS

Social Security Electronic Benefits Update: Why a White House Mandate Is Phasing Out Paper Cheques

The US Social Security Administration is phasing out paper cheques, following an executive order from Donald Trump that pushes federal agencies towards fully electronic payments by late 2025.

International Business Times UK

Trump Promised a $2,000 Tariff Payout—But the Treasury Has Bad News for Your July 4th Celebrations

Trump's proposed $2,000 tariff payout lacks congressional approval, with no set timeline or eligibility criteria, amid warnings of related scams.

International Business Times UK

An IRA playbook to build wealth

Savvy investors know that an IRA has a life cycle that must evolve as they do

The Independent UK

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Rapper Twista pleads guilty to not paying taxes and faces potential prison time

Chicago rapper Twista has pleaded guilty to willfully failing to pay income taxes

The Independent UK

7 Key Financial Steps to Take Before You File for a Gray Divorce

Contemplating a gray divorce? Before calling in the lawyers, take time to understand your financial situation and the impact of dividing assets later in life.

Kiplinger

America at 250: Why Trump's second term is reviving fears of an 'imperial presidency'

As America marks its 250th anniversary, President Trump's actions have drawn comparisons to monarchy, with critics pointing to his use of power to enrich himself and target political opponents. His administration's approach, including leveraging the presidency for personal gain and demanding loyalty from the Justice Department, has sparked debate about…

The Economic Times

How Benjamin Franklin's Simple Money Rules Could Help Lower Your 2026 Taxes

Start your midyear tax planning with these simple, timeless money rules.

Kiplinger

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Master your money: 11 experts share hard-earned tips to budget, invest and retire early

From building an investment portfolio to flying first class on miles, the pros share tricks for thriving in a shaky economy

The Guardian - US

Out-of-Pocket Work Costs That May Belong on Your Employer’s Expense Report

Work does not always stop at the office door, and neither do the expenses that come with it. Employees often pay for items that directly support their job duties, from mileage to supplies, without immediately realizing those costs might belong on an expense report. Some employers set clear reimbursement policies,…

Everybody Loves Your Money

5 Assets You Should Sell First in Retirement (If You Need the Cash)

Don't raid your nest egg for unexpected bills. From brokerage accounts to underutilized lifestyle vehicles, here is how to unlock cash without jeopardizing your future.

Kiplinger

Ask the Tax Editor, June 26: Amended Returns and Late-Filed Returns

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on amended returns and penalties for filing your tax return late.

Kiplinger

Halfway Through 2026: The Money Moves to Make Before the December 31 Deadline

Halfway through 2026, financial choices feel more urgent as deadlines approach faster than expected. Many savers overlook retirement contribution limits until the final weeks of the year, when opportunities become harder to maximize. The IRS has already confirmed updated contribution limits that shape how much money can move into tax-advantaged…

The Free Financial Advisor

'Stupid, Costly, and Deadly': Trump Admin Blasted for Spending $11 Billion to Pay Federal Workers Not to Work

A new Public Citizen report says Donald Trump's Deferred Resignation Program paid nearly 140,000 US federal workers at least $11 billion not to work.

International Business Times UK

IRS did better than expected in tax season after slashing staff, except on the phone, watchdog says

The national taxpayer advocate says the IRS did better than expected in issuing refunds during the 2026 tax season despite massive cuts to its workforce

The Independent UK

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The Free Financial Advisor

Ways The 2026 Roth Catch-Up Rule Can Change Your Tax Plan After 50

Retirement planning just got a fresh twist, and it hits hardest for workers turning 50 and beyond. The 2026 Roth catch-up rule shifts how extra retirement savings get taxed, especially for higher earners. Instead of quietly adding more pre-tax contributions, some savers will need to think in Roth terms, which…

The Free Financial Advisor

7 Advisor Red Flags to Watch When Retirement Advice Involves AI or Crypto

Retirement planning has entered a flashy new era where artificial intelligence tools and cryptocurrency strategies often take center stage. Exciting promises about smarter investing and faster returns can sound impressive, especially when they come packaged in sleek dashboards or confident pitches. But retirement savings deserve careful protection, not high-pressure experiments…

Saving Advice

FTC Says Government-Imposter Scams Up 40% and Cost Victims $3.5 Billion — Spot the Red Flags Before You Pay

Have you ever received a text or unexpected message from a government agency (like the IRS)? Well, join the club. A growing number of Americans...

Reason

35 Retired Federal Judges Slam Trump's 'Laughable' Defense of His 'Obviously Collusive' IRS Settlement

The DOJ's unilateral abandonment of the Anti-Weaponization Fund "makes it crystal clear that these parties were never adverse," the former judges argue.

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news in one place.

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The Guardian - US

‘A lot of our parents were paid by the hour’: a first-gen money coach’s blueprint for wealth

Maria Melchor grew up undocumented in Connecticut. Now she’s helping other first-generation Americans build wealth

Kiplinger

Cash Balance Plans Aren't Gimmicks: Why High Earners Should Reconsider This Bona Fide Planning Tool

Cash balance plans are underused despite their potential to boost retirement savings and reduce tax liability for high earners. Time to give them another look.

The Independent UK

Trump’s DOJ refuses to supply signed statements saying ‘slush fund’ is really dead

Top DOJ lawyer says it’s ‘unnecessary’ to put the end of the $1.8 billion comensation fund in writing

The Economic Times

CM Shivakumar announces one more Karnataka Bhavan in Delhi for civil servant aspirants

Karnataka's Cabinet has greenlit significant developments, including a new Karnataka Bhavan in Delhi for competitive exam aspirants, costing Rs 80 crore. The state will also acquire 620 new buses for transport corporations and invest heavily in healthcare, with a Rs 100 crore super-speciality hospital planned for Yadgir. Exemptions for rural…

Kiplinger

Ask the Tax Editor, June 19: Estimated Tax Payments and Withholding

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on federal estimated tax payments and federal income tax withholding.

Kiplinger

I'm a Financial Adviser: If You Want to Give Money to a Child in Your Family, Some Options Are Better Than Others

Want to save for a child's future? Here's a look at the most common account types for starting their nest egg, even if you don't know what they'll need at 18.

Ballotpedia

U.S. Treasury previews guidance for federal Education Freedom Tax Credit scholarship program

On June 10, the U.S. Department of the Treasury issued a preview of the forthcoming guidance implementing the Education Freedom Tax Credit (EFTC) scholarship program, which is set to take effect on Jan. 1, 2027. President Donald Trump (R) enacted the tax credit as part of the One Big Beautiful…

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