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The Latest Breaking News from IRS

Tax Breaks Parents May Miss When Paying for Child Care

Finding affordable child care is one of the biggest financial challenges many families face, with annual daycare costs exceeding $10,000 in many parts of the country. While most parents know about the Child Tax Credit, many overlook tax benefits tied directly to child care expenses. Missing these opportunities could leave…

Kids Ain't Cheap

Popular Capital Gains Tax ETF Strategy Catches Treasury's Attention

As Section 351 exchanges gain popularity, the Treasury Department is considering whether certain transactions could lead to abusive tax outcomes.

Kiplinger

When to Request IRS Penalty Abatement

When the IRS adds a penalty to a tax bill, the first instinct often involves reaching for the checkbook and grumbling at the ceiling. Before doing either, check whether the penalty qualifies for abatement, which means the IRS may remove or reduce it under certain circumstances.

The Free Financial Advisor

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Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”

Spain may have won the 2026 FIFA World Cup, but for many players the celebration comes with an unexpected opponent.

Fortune

Donald Trump Tax Immunity Scandal: Judge Throws Out $1.8bn Deal As Lawyer Faces Discipline

A federal judge has thrown out Donald Trump's $1.8bn IRS settlement, saying the case was brought for an improper purpose and referring a lawyer for possible disciplinary action.

International Business Times UK

Spain's $50M World Cup Payday May Not Stay Whole Once US Taxes Kick In

Spain's $50M World Cup prize could face a US tax hit, while FIFA enjoys tax exemptions. Discover why teams and players may be facing a very different financial reality.

International Business Times UK

Estate Tax vs Inheritance Tax: Who Actually Pays the Bill?

Estate tax and inheritance tax are both often referred to as "death taxes," but they aren’t the same when it comes down to who pays.

Kiplinger

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What a Delaware Statutory Trust Can Do for Your Kids That Your Will Can't

Delaware Statutory Trusts (DSTs) can keep capital gains taxes at bay when your children inherit your property. But you need to handle them smartly.

Kiplinger

IRS chief Frank Bisignano denies ‘spying’ on colleagues’ emails at JPMorgan Chase

IN FULL

The Independent UK

IRS Chief Frank Bisignano Fires Back After WSJ Spying Report, Says He 'Wouldn't Even Know How' to Access Confidential Files: 'None of It's True...'

Internal Revenue Service Chief Executive Officer Frank Bisignano on Tuesday denied allegations that he secretly surveilled fellow executives while serving as co-chief operating officer at JPMorgan Chase (NYSE:JPM), calling the claims “completely false” during an interview on CNBC’s Squawk on the Street.

Benzinga

10 Things to Know About Scammers

Scams are rampant and hard to identify. Stay up to date with this information.

Kiplinger

Joshua Chapin’s Approach to 1031 Exchanges, Wealth Preservation, and Real Estate Liquidity Planning

After years of working with real estate investors, Joshua Chapin noticed that many faced the same challenge. They had successfully built wealth through rental properties, apartment buildings, commercial real estate, and closely held businesses, but eventually reached a point where ownership itself became the problem.

inkl

How to Tell Whether a Government Check Is Legitimate

Imagine opening your mailbox and finding an unexpected U.S. Treasury check for several hundred dollars. You weren’t expecting a tax refund, don’t remember applying for...

Saving Advice

Trump’s IRS boss spied on colleagues’ emails when he worked at JPMorgan: report

Bisignano denied allegation that he had spied on colleagues while serving as an executive of JPMorgan Chase

The Independent UK

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Kiplinger

New Study Reveals How Much Tax You'll Pay Over Your Lifetime

It's no secret that many people feel squeezed by taxes. A new analysis shows just how much various levies add up and which state has the highest tax burden over time.

The Free Financial Advisor

8 Gift Tax Questions Parents Should Ask Before Helping Adult Children

Helping adult children with a down payment, college debt, a business idea, or a major life expense can feel like one of the best parts of being a parent. Before transferring money, though, parents should ask important gift tax questions to avoid unexpected tax complications and create a smarter plan…

International Business Times UK

Lost Money to a Scam? You Could Still Owe the IRS: Congress Aims to Fix That

The Tax Relief for Fraud Victims Act offers crucial tax deductions and removes IRS penalties for scam victims, alleviating unfair financial burdens. Learn more about this vital legislation today.

Benzinga

Spain Wins FIFA World Cup, But IRS May Be Biggest Winner: Here's Why

In a thrilling conclusion to the World Cup championship, Spain emerged as the victor, securing the $50 million first-place prize from FIFA. However, this victory is not without its financial implications, as the winnings are subject to taxation by the Internal Revenue Service (IRS).

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news in one place.

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International Business Times UK

Spain Won $63.5M at the World Cup: Why Players, Coaches, and Staff Could Still Owe US Taxes

Spain triumphs in the 2026 FIFA World Cup, securing a total $63.5M prize. Discover how US tax implications could impact the earnings of players, coaches, and staff.

Kiplinger

5 Little-Known Senior Tax Deductions in 2026

Some may sound like myths, but these unique tax write-offs can be approved under strict IRS medical guidelines — provided you have the right paperwork.

Kids Ain't Cheap

8 Child and Dependent Care Credit Rules Parents Should Recheck

Parents often spend thousands of dollars each year on daycare, after-school programs, and summer camps, making every available tax break worth revisiting. The child and dependent care credit can reduce your tax bill if you qualify, but many families miss out because they misunderstand the rules or overlook key details.…

Reason

D.C. Circuit Upholds 5-Year Sentence for Leaker of Trump's and Others' Tax Returns

From U.S. v. Littlejohn, decided today by D.C. Circuit Judge Justin Walker, joined by Judges Neomi Rao and Judith Rogers:… The post D.C. Circuit Upholds 5-Year Sentence for Leaker of Trump's and Others' Tax Returns appeared first on Reason.com.

Kiplinger

Got $2.5 Million Saved for Retirement? Here Are the Huge RMDs You Must Take at 73, 75, 80 and 85

If you have $2.5 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

Ask the Tax Editor, July 17: Higher Health Insurance Premiums

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions from readers on the Obamacare premium tax credit.

Fortune

Even before he was wealthy, Warren Buffett planned to give away all his money—now he doesn't check on his children's charities to see how they use it

"I tell the three children that it is theirs and it's their responsibility to get it done well," Buffett said.

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