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The Latest Breaking News from IRS

I Asked ChatGPT for the Tax Mistakes Self-Filers Make Most Often — and How To Avoid Them

To ensure my taxes are error-free, I asked ChatGPT for the tax mistakes self-filers make most often and how I could avoid them -- here's what it said.

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Don’t Make These 5 Common Mistakes on Your Tax Return

The IRS warns taxpayers to watch out for these common errors as they prepare to file.

Kiplinger

Stop Paying for Tax Prep: The 2026 Free File Options for Seniors

Many seniors are still paying $150–$400 every spring for tax prep they could legally get for free. With the IRS ending its Direct File option,...

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Bigger Refund, Bigger Risk: The Tax Refund Advance Ads Are Coming Back

Tax refund advance ads are back, promising bigger refunds but hiding fees, interest and risks taxpayers. Here's what you need to know this tax season.

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How I Managed Decluttering My Paperwork After Retiring

Or: Why you don't need to keep tax returns from your 20s and 30s.

Kiplinger

How to Find a Tax Preparer: What to Look for in a Tax Professional

You want to find a tax preparer who's qualified, reasonable and knowledgeable to file your taxes. How do you get a tax professional that's right for you?

Kiplinger

The $6,000 ‘Senior Bonus’ Most Retirees Are Missing on Their 2026 Taxes—Are You Eligible?

Tax season is rarely a cause for celebration, but for millions of Americans aged 65 and older, the 2026 filing season holds a massive surprise....

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3 of the Most Common Questions Tax Experts Get About Tax Software

Experts answer some common tax software questions. Find out more about safety, credits and deductions, and when businesses should use these filing tools.

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How to Give Your Grandkids $19,000 This Year Without Alerting the IRS or Losing Your Own Savings

Many grandparents want to help their grandchildren financially, but there can be tax implications that come along with that. Not to mention, draining your own...

Saving Advice

Could Iran Close Hormuz? Experts Say It Is Not That Simple

Explore the geopolitical significance of the Strait of Hormuz and the complexities surrounding potential disruptions.

International Business Times UK

If You're Over 65, These 3 Hidden Tax Benefits Could Put Thousands Back in Your Pocket

Learn about the new tax deductions and opportunities for seniors, including the expanded standard deduction and the One Big Beautiful Bill Act.

International Business Times UK

5 Tax-Smart Ways the Wealthy Rebalance Their Investment Portfolios

Tax season prompts portfolio rebalancing. Learn how wealthy investors limit their capital gains taxes while adjusting allocations for long-term returns.

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US and Israel Strikes Iran: How Middle East Tension Could Raise Fuel Prices

The recent military actions by the US and Israel against Iran have caused significant ripples in global oil markets, with potential impacts on fuel prices worldwide.

International Business Times UK

Average 2026 US Tax Refunds up 10%, but 1 in 5 Filers Miss This Tax Credit Worth Thousands of Dollars

The majority of US tax filers fail to claim the earned income tax credit or the additional child tax credit due to complex eligibility criteria.

International Business Times UK

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The Social Security ‘Tax Torpedo’ is Hitting Georgia Seniors Hard—How to Shield Your Benefits

When you start collecting Social Security, you might not realize it will impact how much you owe in taxes. After decades of paying into the...

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The Side Gig Threshold Where Taxes Start To Matter More

Experts explained when side income becomes taxable, how it's treated differently than wages and which rules can help prevent surprise bills and penalties.

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As IRS Refunds Rise, ChatGPT Offers the Smartest Uses for a $3,000 Tax Refund

IRS data shows average tax refunds rising for the 2025 tax season. ChatGPT advised using your refund for debt, an emergency fund or investing. Here's how.

Kiplinger

Missed Your RMD? 4 Ways to Avoid Doing That Again (and Skip the IRS Penalties), From a Financial Planner

If you miss your RMDs, you could face a hefty fine. Here are four ways to stay on top of your payments — and on the right side of the IRS.

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The Free Financial Advisor

IRS Changes for Seniors: What’s Actually New on the 1040‑SR for 2026

The IRS has not added new lines to Form 1040‑SR, but seniors do have something genuinely new to work with this year: a significantly larger deduction created by recent legislation.

Saving Advice

This Retirement Withdrawal Rule Is Confusing Even Longtime Savers

Most of us spend decades contributing to a retirement fund. However, what many people don’t realize is that once you hit retirement age, there are so...

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IRS Refunds Are Up 14.2% So Far: What Filers Should Do With the Extra Cash

Here's a look at what filers should keep in mind regarding these larger tax refunds and what they could do with the extra cash.

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I’m an Accountant: The Biggest Tax Misunderstanding I See Among the Middle Class

Many middle-class households believe they have a solid grasp on how their taxes work, especially if they've been filing for years without a problem.

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Trump Accounts Arrive July 4 — What You Need to Know

Many details about how Trump Accounts will operate remain open questions.

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6 Ways To Get Money Back From the IRS Using Tax Credits — According to a Tax Pro

Getting a tax refund often feels like luck, but it usually comes down to knowing which tax credits you qualify for and claiming them correctly.

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I Asked ChatGPT Whether Filing an Extension Is a Bad Idea — Here’s What It Said

Tax season is in full swing, and the pressure is on to get federal returns filed by April 15. For some, however, that deadline is challenging.

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