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The Latest Breaking News from IRS

IRS Denies Rumored $1,390 Stimulus Checks, Says No New Payments Approved For 2025: Here's What Taxpayers Need To Know (UPDATED)

Editor’s Note: This story has been updated to include a comment from an IRS spokesperson.

Benzinga

Trump Ousted Billy Long As IRS Chief Amid Clashes With Treasury, Off-Script Gaffes And Creating 'An Impossible Situation'

President Donald Trump ousted Internal Revenue Service Chief Billy Long last week, only eight weeks into his tenure, continuing the rapid turnover in top leadership at the agency, which has already seen seven changes in less than 12 months.

Benzinga

How the 2025 Child Tax Credit Rules Impact Single Parents

New changes to family tax credits, like the Child Tax Credit, will impact the eligibility of some households.

Kiplinger

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Should You Be Paying Rent to Live in Your Adult Child’s Home?

Moving in with your adult children during retirement can be a win-win. You save money, they have help around the house, and everyone enjoys more...

Saving Advice

6 Retirement Plans That Kick You Off Federal Aid Without Notice

For retirees depending on federal aid programs like Medicaid, Supplemental Security Income (SSI), or certain housing benefits, the type of retirement plan you choose can make or break your eligibility. What many don’t realize is that some accounts or payout structures can suddenly push your income or assets over the…

The Free Financial Advisor

Are You Reading the Right Fine Print on Your Tax Refund?

Tax season can feel like a relief when you see that refund number pop up. But before you start planning how to spend it, there’s something you need to know. The fine print on your tax refund isn’t just legal jargon—it can affect how much money you actually get, how…

The Free Financial Advisor

6 Retirement Date Mistakes That Affect Tax Brackets

Retirement is a big milestone, but the date you choose to retire can have a bigger impact on your taxes than you might think. Many people focus on saving enough money or picking the right investments, but they forget how much timing matters. The wrong retirement date can push you…

The Free Financial Advisor

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Why That Gifted Car Could Lead to IRS Trouble

Imagine this: a relative tosses you the keys to a shiny, practically new car. No payments. No paperwork hassles. Just yours—free and clear. Sounds like a dream, right?

Everybody Loves Your Money

7 Little-Known Tax Credits That Seniors Often Miss

When most retirees think about tax savings, they focus on the standard deductions or common exemptions they’ve always claimed. But in retirement, the rules change—and...

Saving Advice

Are You Losing Promised Income by Ignoring Rental Side App Tax Loopholes?

If you rent out a room on Airbnb, share your car on Turo, or list storage space on Neighbor, you might be missing out on serious income without even realizing it. Many rental side hustle earners forget that certain tax breaks and deductions apply to their earnings. The result? You’re…

Beating Broke

5 Tax Benefits That Disappear if You Downsize Too Late

Downsizing your home can be a smart financial move, but waiting too long can cost you in ways you might not expect. While selling a larger property often frees up cash and reduces maintenance costs, there are specific tax perks tied to timing. If you miss the right window, you…

The Free Financial Advisor

Is IRMAA About to Add Hundreds to Your Monthly Medicare Bill?

For many retirees, managing finances means keeping a close eye on every expense, and Medicare is often a significant part of the budget. While most people are familiar with their Part B and Part D premiums, a lesser-known acronym could drastically increase those costs. The Income-Related Monthly Adjustment Amount, or…

Budget and the Bees

How Your 2025 Wedding Could Save You Money on Taxes

There are some wedding expenses that are tax-deductible, and you don’t want to miss out on savings.

Kiplinger

7 Ill-Advised Advisor Tips That Trigger IRS Audits

Tax season can be stressful. You want to get every deduction you deserve, but you also want to avoid trouble with the IRS. Many people turn to financial advisors for help, trusting their expertise. But not every tip is a good one. Some well-meaning advice can actually put you in…

The Free Financial Advisor

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The Free Financial Advisor

8 Email Formats That Signal a Financial Scam in Disguise

Email scams are everywhere. They show up in your inbox when you least expect them. Some look like messages from your bank. Others pretend to be from the IRS or a company you trust. These scams can cost you money, steal your identity, or even lock you out of your…

The Free Financial Advisor

10 Retirement Funds That Can Be Frozen by Court Orders

Retirement funds are supposed to be safe. You work for years, save money, and expect those funds to be there when you need them. But sometimes, a court can freeze your retirement accounts. This can happen for many reasons, like unpaid debts, divorce, or legal judgments. Knowing which retirement funds…

Saving Advice

Is Your Social Security Check Shrinking Without Explanation?

Social Security is a lifeline for millions of Americans. If you rely on these monthly payments, any drop in your check can feel alarming. Sometimes,...

Saving Advice

Should You Add Your Child’s Name to Your House Title?

Adding your child’s name to your house title sounds simple. Many parents think it’s a way to help their kids or avoid future problems. But...

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The Free Financial Advisor

10 Refund Delays Women Face After Retirement That Men Rarely Do

Retirement should bring peace of mind and financial stability, but for many women, unexpected delays in receiving refunds and reimbursements create added stress. Whether it’s tax returns, overpaid premiums, or owed pension benefits, women often wait longer than men due to systemic gaps in records, outdated processes, or assumptions about…

The Free Financial Advisor

5 Ways Missing One Tax Form Can Cost Your Heirs Thousands

It’s hard enough planning for your family’s future after you’re gone, but all that careful effort can unravel if one tiny detail gets missed. For many families, missing one tax form during estate or inheritance filings has led to expensive delays, surprise bills, and even lost assets. Tax forms may…

The Free Financial Advisor

8 Rules Around Health Savings Accounts That Still Confuse Seniors

Health Savings Accounts (HSAs) can be a powerful financial tool, especially in retirement, but the fine print can leave even the most financially savvy seniors scratching their heads. Many older adults assume they fully understand how HSAs work—only to discover late-in-the-game rules that affect taxes, contributions, or withdrawals. If you’re…

The Free Financial Advisor

7 Legal Loopholes That Let Authorities Freeze Assets Without Warning

When you think about your money, you probably imagine it’s safe in your bank account or investments. But what if you woke up one day and found your assets frozen—no warning, no chance to move your funds? Asset freezing isn’t just something that happens to criminals or big corporations. It…

The Free Financial Advisor

What Happens When Your Loved Ones Open an Account in Your Name?

Opening a bank account is a big deal. It’s your money, your name, and your credit on the line. But what if someone you trust—maybe a family member or close friend—opens an account in your name without telling you? This happens more often than you might think. Sometimes it’s a…

The Free Financial Advisor

7 IRS-Style Threat Scams Still Confusing Homeowners This Year

Every year, scammers find new ways to trick homeowners. IRS-style threat scams are some of the most common. These scams use fear, urgency, and official-sounding language to get people to hand over money or personal information. Many homeowners think they can spot a scam, but these tactics keep getting more…

The Guardian - AU

Trump news at a glance: Lutnick threatens Harvard patents; former Fox commentator bound for UN

Commerce secretary begins process could let the government seize Harvard patents; Tammy Bruce nominated for deputy US ambassador to UN – key US politics stories from 9 August 2025

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