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The Latest Breaking News from IRS

Six Changes to IRAs and 401(k)s in 2025

The 2025 rule changes for Roth and traditional IRAs could mean more money for your retirement. But you have to pay attention to reap the rewards.

Kiplinger

What is Medicare tax and and who pays it? Experts explain

Medicare funding comes from a combination of government contributions, payroll taxes, and monthly premiums paid by Medicare beneficiaries.

Fortune

Three Texas Sisters Sentenced For $3M Tax Fraud Scheme: They 'Enjoyed the Financial Spoils'

The three women filed thousands of fraudulent tax returns, according to authorities.

Latin Times

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How the US government can stop ‘churches’ from getting treated like real churches by the IRS

The Family Research Council is a conservative advocacy group with a “biblical worldview.” While it has a church ministries department that works with churches from several evangelical Christian denominations that share its perspectives, it does not represent a single denomination. Although its activities are primarily focused on policy, advocacy, government…

The Conversation

The Average IRA Balance by Age and Generation

Knowing how the average IRA balance of peers compares to your own could be the nudge you need to save more for retirement — or pat yourself on the back.

Kiplinger

Crypto Taxation And Accounting In The USA: Insights From Experity CPA

The IRS treats cryptocurrency as property, not currency, under Notice 2014-21. This classification is pivotal because it means every transaction involving cryptocurrency—whether selling, exchanging, or even making purchases—triggers a taxable event.

International Business Times

Do You Stop Paying Taxes on Social Security at a Certain Age?

There’s some confusion over whether you can escape taxes on Social Security benefits based on age.

Kiplinger

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Day Trade Tax Rate Explained: How Much Traders Pay

Understanding the day trade tax rate might appear complicated. A lot of traders feel confused when it's about taxes. What will be the amount due? Which regulations should you be aware of? These are typical queries that lead to bewilderment.

inkl

Shortage of CPAs as 2025 Tax Season Kicks Off

This once resilient accounting industry is cracking, as the labor force seems in dire straits. It’s also affecting the IRS.

Kiplinger

Lockbit says it has hit eFile.com, again

We don't know how many people might be affected.

TechRadar

30 Interesting And Fun Facts For Your Daily Dose Of New Knowledge

People say that every day you learn something new. And while that sounds like a cliche, it’s very much true, especially if you’re a regular user of the internet. The post 30 Interesting And Fun Facts For Your Daily Dose Of New Knowledge first appeared on Bored Panda.

Bored Panda

This Double-Dip Trust Benefit Really Is Too Good to Be True

Let's clear up the confusion among some trust makers and taxpayers over how grantor trust status affects the step-up in basis and estate tax exclusion.

Kiplinger

Is an Annuity Worth It? Tax Pros and Cons

Knowing how an annuity might impact your tax situation can be confusing. Here are some advantages and downsides to consider.

Kiplinger

Who Does the IRS Audit the Most?

The IRS has a $400K audit directive problem. Here’s what you need to know.

Kiplinger

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Kiplinger

IRS Hauls Back $1.3 Billion From High-Income Earners

Certain income and wealth levels can trigger an IRS audit. Here's what you need to know.

Kiplinger

529 Plans: A Powerful Way to Tackle Rising Education Costs

Contributions to 529 plans grow tax-free and are not taxed when they are used to pay for qualified educational expenses for the beneficiary.

International Business Times UK

Mother Cuts 75-year-old Son's Inheritance By $20k Over Decades-old Unpaid Debt Before Passing Away

The man lives in an assisted living facility and claims to have repaid $5,000 to his mom. He is now exploring ways to receive the entire inheritance payout, even if that means amending his mother's old tax returns.

Bored Panda

“I Told Him He Was Insane”: Man Wastes His Money, Expects Estranged Cousin To Help Him

He warned his cousin not to buy a house he couldn't afford, but he did it anyway. Now relatives expect him to use his savings to get the cousin out of debt. The post “I Told Him He Was Insane”: Man Wastes His Money, Expects Estranged Cousin To Help Him…

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Kiplinger

Saving to Be a 401(k) Millionaire? Plan for Taxes Now

Your tax bite in retirement could be excruciating. Here's why super savers need to get serious about protecting themselves.

Kiplinger

Incorrect ERC? IRS Points to Five New Red Flags

These signs could mean there’s an error in your Employee Retention Credit claim.

Roll Call

Johnson's stopgap funds plan appears headed for defeat in House - Roll Call

Enough House Republicans ranging from conservative spending critics to those who want a bigger defense budget have come out against Speaker Mike Johnson’s stopgap spending strategy to imperil passage.

Kiplinger

IRS Has No Set Plan to Replace Old Tech

What could old IRS technology mean for your federal tax return and cybersecurity?

Kiplinger

Prepare to Start Taking Money Out of Your Inherited IRA

The IRS has issued final rules on taking required distributions from an inherited IRA, and warns that the reprieve on penalties for adult children and other non-spouse beneficiaries who don't comply will end in 2025.

Latin Times

After a rocky FAFSA rollout season, here's what you should know about the upcoming financial aid school year

From calling the financial aid office, to setting up a separate email, being prepared may be the best way to tackle FAFSA filing season

International Business Times

Yellen Says She's 'Probably Done' With Government Work Once Biden's Term Ends

The 78-year-old treasury secretary is the first woman to hold the job and that of Federal Reserve chair, and the first person to also chair the White House Council of Economic Advisers.

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