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The Latest Breaking News from IRS

Trump says he will pull Blanche’s attorney general nomination until Cornyn leaves office

The president suggested Cornyn was holding up Todd Blanche’s nomination because he endorsed Ken Paxton over the senior senator. Cornyn said it has nothing to do with their political history.

The Texas Tribune

Todd Blanche's Nomination Is in Trouble. It Should Have Been Doomed From the Beginning.

By haggling over the details of Trump's flagrantly corrupt IRS "settlement," dissenting Republican senators give a pass to Blanche's unethical and illegal approval of it.

Reason

IRS modernization bill approved by Senate panel

The Senate Finance Committee advanced a bipartisan tax administration package Thursday aimed at modernizing the IRS, improving customer service and strengthening taxpayer rights. The committee voted, 26-1, to approve the sprawling tax modernization bill, which encompasses a laundry list of tax provisions including some proposals that have already gotten backing…

Roll Call

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Todd Blanche’s attorney general nomination in jeopardy as Trump threatens to withdraw his name

IN FULL

The Independent UK

Trump’s former ally threatens to derail Todd Blanche over DOJ ‘slush fund’

IN FULL

The Independent UK

Cut Your Taxes With Tax-Loss Harvesting in 2026

Turn market drops into lower taxes by offsetting your capital gains.

Kiplinger

Senate’s latest effort to halt Trump’s Iran hostilities fails in 49-50 vote as some Republicans side with Democrats – as it happened

Republicans senators Susan Collins, Lisa Murkowski and Rand Paul voted in favor of the motion to prevent Trump from continuing hostilities against Iran. This blog is now closed.

The Guardian - US

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US Senate delays vote on Todd Blanche''s attorney general nomination demanding clarity on Trump's IRS lawsuit

The US Department of Justice said in a statement after the vote was postponed that it remains ready to work productively with senators Cornyn and Tillis to advance Blanche’s confirmation.

Euronews

IRS Whistleblower Program Has Recovered More Than $8 Billion and Paid Over $1.4 Billion in Awards Since 2007

The Internal Revenue Service is recognizing National Whistleblower Day by highlighting the success of its Whistleblower Program, which has helped recover more than $8 billion in taxes, penalties, and other amounts since the program began in 2007. During that same period, the IRS has paid more than $1.4 billion in…

The Free Financial Advisor

Got money questions? How to get chatbots to give you accurate answers

Finding good financial advice can be stressful – and expensive. That’s one reason why chatbots have become an increasingly popular and free alternative.

The Conversation

Are college scholarships taxable? What to know ahead of the new semester

Some 53 percent of students say scholarship money plays an important role in whether they’ll attend college

The Independent UK

Crypto Investors Could Lose A Major Tax Break As Congress Revives An Old Fight

U.S. lawmakers are renewing efforts to eliminate a tax advantage that allows cryptocurrency investors to harvest losses while immediately buying back the same assets.

International Business Times

IRS Issues Correction to Updated Qualified Domestic Trust Regulations Under Section 2056A

The Internal Revenue Service has published a correcting amendment to recently finalized regulations governing Qualified Domestic Trusts (QDTs) under Internal Revenue Code Section 2056A. Published in the Federal Register on July 24, 2026, the amendment makes technical corrections to final regulations issued earlier in the month and became effective immediately…

The Free Financial Advisor

Hold US stocks under LRS? Here’s why you may not be able to gift them to NRI children

Indian residents cannot gift US shares purchased through the LRS route to their NRI children. The liberalised remittance scheme requires sale proceeds to be repatriated within 180 days. US stocks held under LRS may face US estate tax upon the investor's death. Indian residents can reduce this exposure by investing…

The Economic Times

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Saving Advice

At What Age Does Social Security Stop Being Taxed? Here’s the Truth

One of the most common questions retirees ask is, “At what age does Social Security stop being taxed?” It’s an understandable question, especially since many...

Kiplinger

Why Paying More in Taxes Today Could Leave You Wealthier Tomorrow: A Financial Planner Explains Roth Conversions

Roth conversions sound like a no-brainer — pay more tax now to pay less in future. But you need to understand your tax bracket to make sure they'll work for you.

Louder

“There’s still that unresolved thing where we haven’t had the last hug and a drink. I was very, very sad when he died”: The chaos and carnage of The Lords Of The New Church, punk’s first supergroup

Formed by members of The Damned, Dead Boys and Sham 69, The Lords Of The New Church snatched defeat from the jaws of victory

Saving Advice

IRS Penalty Relief: Who Qualifies Automatically and Who Still Has to Ask

Nobody likes opening a letter from the IRS only to discover penalties have been added to an already stressful tax bill. The good news is...

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news in one place.

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Kiplinger

Why Most People Overpay Taxes in Retirement — and Don't Even Know It

The retirees who enjoy the lowest tax bills in retirement aren't those who earned the least — they're the ones who plan ahead for their retirement income.

International Business Times UK

$600bn Cash Payout vs $300bn Tariff Revenue: Donald Trump's $2,000 Cheque Plan Facing Massive Deficit

Donald Trump's much‑touted $2,000 'tariff dividend' cheques remain stuck at the proposal stage, with no law passed and no official payment plan in place.

The Independent UK

Supreme Court litigator gets 6 years in prison for tax evasion case after gambling millions on poker

A prominent Supreme Court litigator has been sentenced to six years in prison for evading a multimillion-dollar IRS tax debt and engaging in mortgage fraud in a case that cast a spotlight on his secretive lifestyle as a high-stakes poker player

Kiplinger

Ask the Tax Editor, July 24: Taxation of I Bonds

In this week's Ask the Editor Q&A, Joy Taylor answers readers' questions about the taxation of I bonds in various situations.

The Free Financial Advisor

IRS Replaces First Time Abate Program With Automatic Penalty Relief for Taxpayers With Clean Compliance History

The Internal Revenue Service is replacing its long-standing First Time Abate (FTA) program with a new system called Automatic Exemption from Penalty (AEP), making it easier for taxpayers with a strong compliance history to receive penalty relief. Announced on July 8, the new process is designed to automatically remove certain…

We Got This Covered

Tennessee farmer says IRS mistakenly sent him $20k, then allegedly started threatening to seize his farm

“I've tried the president, governor, mayor."

The Independent UK

Trump’s staff turnover is more than double his first term — and it’s only two years in

More officials are leaving in Trump’s second term and fewer nominations are being made to the Senate, according to recent data

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