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The Latest Breaking News from IRS

I'm a CPA: These Are the Q2 Tax Moves Every Business Owner Should Be Making Now

Don't wait until Q4 to talk to your tax adviser or CPA. Business owners and the self-employed should be using April's tax return to shape the rest of the year.

Kiplinger

What do I do with unused 529 funds?

As college costs creep up, 529 plans offer a way to save for education bills. But what should account owners do if they have money left once the bills are paid?

The Independent UK

A DOJ Brief Preposterously Insists That Trump's 'Anti-Weaponization Fund' Was Politically Neutral

The president himself has repeatedly contradicted that claim.

Reason

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The slush fund is gone – but Trump’s IRS agreement is a new level of self-dealing

The president’s immunity from continuing audits made fewer headlines than the ‘anti-weaponization fund’, but it’s no less egregious

The Guardian - US

IRS Takes Down $40 Million Tax Shelter — Four Convicted Over 98% Tax-Saving Claims

Financial experts orchestrated an illegal trust tax shelter scheme targeting high-net-worth individuals, leading to $40 million in losses and convictions for tax evasion in the US.

International Business Times UK

Amgen Eyes 2026 ‘Springboard’ as Growth Drugs Offset Patent Pressure

Amgen (NASDAQ:AMGN) executives said the company’s first-quarter performance supports its view that 2026 can serve as a “springboard year,” with growth products helping offset increased competition for the denosumab franchise and other losses of exclusivity. Speaking at a Goldman Sachs event, Peter

MarketBeat

Social Security chief dismisses worries over staffing issues and touts shorter wait times

Bisignano assumed leadership of the agency following a period marked by chaotic customer service changes and leadership departures

The Independent UK

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Virginia man used a fetish website to lure a man to his house for a ‘violent fantasy encounter.’ Then he staged the entire scene

Banfield maintains that he is innocent.

We Got This Covered

Overpayment Notices Are Going Out to Retirees Who Did Nothing Wrong — Here’s Why

A growing number of retirees have opened their mail recently and found something alarming waiting inside: an overpayment notice from the Social Security Administration. These letters often demand repayment of thousands of dollars, even when retirees believe they followed every rule correctly. Confusion spreads quickly because the notices arrive without…

The Free Financial Advisor

Ignoring an IRS Notice Never Makes It Go Away — Here’s What Each Letter Type Means

Some envelopes carry a quiet sense of urgency, and IRS notices rank at the top of that list because they rarely arrive without a reason that demands attention. Every IRS letter signals a specific issue tied to taxes, filings, payments, or mismatched records, and each one escalates the situation if…

The Free Financial Advisor

Congress Debates Whether Crypto Tax Relief Should Extend Beyond Stablecoins

A congressional hearing this week could determine whether tax rules continue to treat most crypto transactions as taxable property sales.

International Business Times

Your Tax Preparer Could Be the Reason Your Return Gets Flagged — What to Watch For

Tax season often feels like a relief once everything gets handed over to a professional, but that trust can backfire in unexpected ways. A single mistake or questionable decision from a tax preparer can put a return straight into the IRS spotlight. That means delays, extra scrutiny, or even a…

The Free Financial Advisor

Blanche heads into attorney general confirmation clash

President Donald Trump on Monday sent to the Senate the nomination of acting Attorney General Todd Blanche to fill the role permanently, teeing up what could be a bruising confirmation process for a Trump ally who has drawn bipartisan criticism for recent Justice Department moves. The president’s former defense attorney…

Roll Call

Unclaimed Refunds Expire After 3 Years — Billions Go Unrecovered Every Summer

Unclaimed refunds sound harmless at first, but they quietly drain billions of dollars from taxpayers every year. Governments across North America place strict time limits on claiming tax refunds, and most people never realize the clock even starts ticking. Once that deadline passes, the money does not wait around and…

The Free Financial Advisor

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Reason

Stop Calling it an Immunity! There's No Immunity!

It's all a figment of Todd Blanche's imagination.

The Independent UK

A watchdog report flags security risks in the IRS-ICE taxpayer data-sharing deal

A new Treasury inspector general report raises concerns about Immigration and Customs Enforcement's ability to safeguard taxpayer information

Saving Advice

9 Tax Deductions Seniors Over 65 Routinely Miss

Tax season can be frustrating, especially for retirees who assume their opportunities to reduce their tax bill are limited. The reality is that many older...

The Free Financial Advisor

Over 3 Million Filers Made This Withholding Mistake Last Year — Here’s How to Fix It

Tax season often surprises people, but the real shock usually starts much earlier—right on the paycheck stub. Over 3 million filers ran into trouble last year because their tax withholding didn’t match their real-life income situation. Some ended up owing hundreds or even thousands at tax time, while others gave…

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news in one place.

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The Free Financial Advisor

New IRS Matching Technology Is Catching Income Discrepancies That Used to Slip Through

Tax season just got a serious upgrade on the government side. The IRS now uses advanced matching technology that scans income records with far more precision than before. This system compares information from employers, banks, gig platforms, and third-party payers in real time. Small inconsistencies that once slipped through now…

The Free Financial Advisor

W-2 Mismatches Are Holding Up Thousands of Returns — Even Honest Mistakes Count

Tax season is already stressful, but nothing derails a refund faster than a W-2 mismatch. A single incorrect number between what a taxpayer reports and what an employer submits can freeze a return in the IRS system almost instantly. The frustrating part is that these delays don’t always signal fraud…

Kiplinger

The Penny Is Dead, So Why Is the U.S. Mint Bringing Them Back?

While circulation ended in 2025, "dual-date" pennies are officially here. Here's why the IRS treats these coins differently from pocket change.

The Free Financial Advisor

Missing a Payment Plan After Owing the IRS Triggers Collection Actions Fast

The IRS does not wait long when taxpayers miss payments on an installment agreement. One skipped payment can put the entire arrangement at risk and open the door to aggressive collection activity. Many taxpayers assume a short delay will not matter, but the IRS operates with strict enforcement timelines that…

Axios

Trump's $1.77B "anti-weaponization" fund temporarily blocked by federal judge

The plan has sparked bipartisan skepticism.

Axios

Scoop: Trump plans to drop "weaponization" fund

Trump's proposal has drawn bipartisan pushback in the GOP-led House and Senate.

Axios

Trump to nominate Todd Blanche as attorney general

Trump is elevating Blanche days after his most public setback.

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