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The Latest Breaking News from IRS

Got $1 Million Saved for Retirement? Here Are the Huge RMDs the IRS Makes You Take at Ages 73, 75, 80 and 85

If you have $1 million saved for retirement, your RMDs will change every year. Find out exactly how much you must withdraw at ages 73, 75, 80 and 85.

Kiplinger

Doctor arrested for bludgeoning, stabbing domestic help to death in south Delhi's Mount Kailash

A 45-year-old woman was found dead on a terrace in South Delhi. Police arrested a doctor, Manish Gupta, who allegedly killed her with a bat and knife. The victim, Meena, worked as his domestic help for 15 years. The motive remains unclear, though a personal dispute is suspected. This incident…

The Economic Times

The EV Charger Tax Credit Ends June 30, 2026: 6 Rules Homeowners Should Check Before Installing One

Electric vehicle charging keeps reshaping how homeowners power their daily routines, but a major financial perk is heading toward a deadline. The federal EV charger tax credit ends on June 30, 2026, and that date changes how homeowners plan upgrades. Installing the wrong equipment or missing a requirement can wipe…

Clever Dude

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The 2026 401(k) Limit Is $24,500: 6 Ways Workers Can Use the Higher Cap Before Year-End

Retirement savers just received a little extra breathing room. The IRS announced that the 401(k) contribution limit will increase to $24,500 for 2026, giving workers another opportunity to build long-term wealth while reducing taxable income in many cases. The increase may look modest at first glance, but small adjustments often…

The Free Financial Advisor

Could Your ZIP Code Cut Your Federal Taxes? New Bill Explains How

The location-based tax cut would expand federal brackets for high-cost areas in New York, California, Florida and more. Here's who would qualify.

Kiplinger

At age 18, he’s already graduated law school. Now he wants to fight ‘extremely predatory’ social media companies

Jimmy Chilimigras graduated high school at 12 and is now pursuing a master of laws degree – and he wants to find ‘an area to do some good’

The Guardian - US

6 Required Minimum Distribution Rules Retirees Should Recheck Before Year-End

One of the most costly mistakes retirees can make is not knowing the rules regarding Required Minimum Distributions (RMDs). The IRS has a set of...

Saving Advice

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Five ways to avoid tax penalties in 2026

Uneven income can make estimated taxes tricky

AAP

How to keep more cash flowing with the pay-as-you-go tax method

Uneven income can make estimated taxes tricky

The Independent UK

Elon Musk Is the World’s First Trillionaire. Disgusting

Elon Musk has officially broken the record for becoming the world’s first trillionaire. Online reactions have varied, with some congratulating Musk and others criticizing the obscene wealth he has amassed. According to Bloomberg, Tesla and SpaceX founder became the world’s richest man in history after his net worth reached $1.1…

The Mary Sue

Trump's Lawyers Insist There Is 'No Evidence' of 'Collusion or Fraud' in His 'Settlement With Myself'

The sweet deal that resolved the president's fatally flawed lawsuit against the IRS was business as usual at the DOJ, his attorneys told a federal judge.

Reason

"American Diabetes Association Ejects Researchers from Conference for Sharing Editorial from Its Own Journal"

Aaron Terr (FIRE) reports, based on accounts from various publications. Some excerpts: The incident occurred outside a conference hall where… The post "American Diabetes Association Ejects Researchers from Conference for Sharing Editorial from Its Own Journal" appeared first on Reason.com.

Reason

How to Learn to Stop Worrying About the Gift Tax and Give Your Kids Money Already

You have to let the IRS know about large gifts, but tax consequences aren't a concern for most families.

Kiplinger

Wealth Wise: You’ve Mastered Asset Allocation — Now It’s Time for Asset Location

In our retirement advice column, Wealth Wise, a 66-year-old retiree learns how strategically placing your stocks, bonds, and cash can save you thousands.

Kiplinger

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Kiplinger

5 Costly RMD Mistakes That Will Put a Dent in Your Savings (and How Early Planning Can Help)

Like your golden years, RMDs creep up on you quicker than you think. Planning ahead can prevent you (and your heirs) getting hit with penalties and extra taxes.

The Free Financial Advisor

Many Social Security Recipients Pay Taxes on Their Benefits — Most Are Surprised

Millions of retirees depend on Social Security checks as a core part of their monthly income, yet many still end up paying federal taxes on those benefits. That surprise often hits when tax season arrives and the IRS calculates how much of those benefits count as taxable income. The rules…

The Independent UK

IRS gets green light to swiftly hire 8,000 employees after agency struggled following Elon Musk’s ‘severe’ DOGE cuts, memo reveals

Public officials stated the IRS had its ‘most successful filing season’ - though an internal memo indicates the agency knew it needed more staff after DOGE cuts

The Guardian - US

Judge extends block on Trump’s $1.8bn ‘anti-weaponization’ fund

Trump administration created fund to resolve his lawsuit against the IRS over the leak of his tax returns

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International Business Times UK

Donald Trump Tried To Sue The IRS, Settle With Himself, And Grant His Family Lifetime Immunity

Donald Trump's $10B IRS lawsuit has reportedly led to a controversial deal critics say could create a $1.7B fund and grant sweeping immunity, now facing legal pushback.

International Business Times UK

DOJ Admits It Has Zero Records or Paper Trail for Trump's $1.8 Billion IRS Settlement

US watchdog CREW says the Justice Department's Civil Division has admitted it can find no records for a $1.776 billion IRS settlement reached under Donald Trump's presidency, deepening concerns over how the deal was made.

Ballotpedia

North Carolina General Assembly overrides Governor's veto of bill opting state into federal education tax credit scholarship program

On June 3, 2026, the North Carolina General Assembly overrode Gov. Josh Stein's (D) veto of HB 87, titled the Educational Choice for Children Act (ECCA), opting the state into the federal education tax credit scholarship program.

The Independent UK

Nearly 5,000 ‘Americans’ renounced their citizenship last year – the highest mark in years

More people renounced their ties to the US in 2025 – many for tax reasons but some for personal and political reasons

Reason

Two Senators Offer a Bipartisan Solution to Censorship by Proxy

The JAWBONE Act would let Americans sue government officials who try to restrict their speech by pressuring social media platforms, broadcasters, or AI companies.

Clever Dude

6 Money Moves That Trigger an IRS Audit

Tax season always brings a mix of relief and anxiety, especially when thoughts turn toward the IRS and potential audits. Certain financial behaviors quietly raise red flags and place tax returns under closer review than most people expect. The IRS does not randomly pick targets as often as people assume,…

Latin Times

Internal Memo Shows IRS Feared Staffing Cuts Could Disrupt Tax Season, Sought 8,000 Hires

The hiring push follows the departure of roughly 28,000 IRS employees last year, or about 27% of the agency's workforce

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