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The Latest Breaking News from IRS

8 Tax Filings That Put Family Trusts Under Review

Family trusts are a powerful tool for protecting assets, reducing estate taxes, and managing wealth across generations. But just because a trust is legal doesn’t mean it’s immune to IRS scrutiny. In fact, certain tax filings can trigger reviews, audits, or even penalties, especially when red flags pop up. Whether…

Clever Dude

10 Things You Should Never Put In a Trust Fund

Setting up a trust can be one of the smartest moves in estate planning. It allows you to pass assets to your heirs while avoiding...

Saving Advice

6 Estate Tax Traps That Are Quietly Emptying Inheritance Funds

Inheritance can feel like a safety net. You expect it to help your family, maybe even change lives. But estate tax traps can quietly eat away at what you leave behind. Many people don’t see these traps coming. They’re hidden in paperwork, deadlines, and rules that seem simple but aren’t.…

Clever Dude

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10 Things People Don’t Realize Will Be Taxed After They Die

When you think about what happens after you die, taxes probably aren’t the first thing on your mind. But the truth is, taxes don’t stop when life does. Many people assume their assets will simply pass to loved ones, but the IRS and state tax agencies often get a final…

The Free Financial Advisor

9 Retirement Savings Accounts With Automatic Withdrawal Triggers

Saving for retirement is a big deal, but managing those savings can be just as important. Many people set up retirement accounts and then forget about them until it’s time to retire. But what happens when you need to start taking money out? Automatic withdrawal triggers can help. These features…

Clever Dude

Why government support for religion doesn’t necessarily make people more religious

The IRS will offer religious congregations more freedom to endorse political candidates without jeopardizing their tax-exempt status, the agency said in a July 2025 court filing. President Donald Trump has previously vowed to abolish the Johnson Amendment, which bars charitable nonprofits from taking part in political campaigns – although the…

The Conversation

Dave Ramsey Caller Was Overpaid $48,000 By Her Employer. Now They Want It Back—'This Conversation Was Worse Than A Tooth Extraction'

A recent episode of “The Ramsey Show” sparked frustration and sympathy after a caller revealed she was accidentally overpaid $48,000 by her employer—and now, nearly a year later, the company wants the full amount returned.

Benzinga

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6 Tax Credits Boomers Keep Missing Out On

You’d think that after decades of paying into the system, Baby Boomers would get every break possible during retirement. But when it comes to taxes,...

Saving Advice

7 Financial “Gifts” That Turn Into Legal Nightmares

Giving someone a financial gift should be an act of generosity—simple, heartfelt, and appreciated. But in reality, some of the most well-intentioned gifts can spiral...

Saving Advice

These 6 Savings “Shortcuts” Are Costing You in Taxes

The internet is full of financial hacks and shortcuts promising to help you save faster, retire earlier, and outsmart the system. But in a world...

Saving Advice

9 Secret Strategies the Wealthy Use To Cut Their Tax Bills, According to Preston Seo

No one wants to pay more in taxes than they have to. Here are nine IRS-approved strategies the wealthy use to pay less in taxes, that you can start using, too.

GOBankingRates

“Grunge was taking off, and yet we were having our two biggest albums. It makes me wonder how well they’d have done had they been out in 1987”: The turbulent story of Lillian Axe, the 80s hard rock band who were too good for hair metal

Cult US hard rockers LIllian Axe should have been way bigger than they were

Louder

10 Social Security Moves That Raised Red Flags With the IRS

For millions of Americans, Social Security provides essential financial support in retirement. But what many don’t realize is that certain decisions involving your benefits can catch the IRS’s attention. From inaccurate reporting to suspicious withdrawals, some Social Security moves raise red flags that could trigger audits, penalties, or delays. Whether…

Clever Dude

6 Retirement Payout Options That Aren’t Being Explained Clearly

Retirement is a big step. You spend years saving, planning, and thinking about what life will look like when you finally stop working. But when it’s time to choose how you’ll get your retirement payout, things can get confusing fast. There are more options than most people realize, and the…

Clever Dude

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news in one place.

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Clever Dude

9 Tax Refunds Reversed Due to Beneficiary Errors

Tax season can feel like a relief when you finally hit “submit” and see that refund on the way. But what if that refund gets reversed? It happens more often than you might think, and the reason is usually simple: beneficiary errors. These mistakes can cost you time, money, and…

Kiplinger

Ask the Editor, July 25: Questions on Four New Tax Deductions

In this week's Ask the Editor Q&A, we answer tax questions from readers on four new tax deductions in the "One Big Beautiful Bill."

Kids Ain't Cheap

The Unexpected Expense: 11 Tax Breaks For Parents You Didn’t Know Existed

Image source: 123rf.com

Budget and the Bees

6 Signs a Scam Is Targeting People Over 50

Scammers are cunning psychologists who know exactly how to exploit human emotions like fear, excitement, and trust. While anyone can fall victim to fraud, criminals often believe they have a higher success rate by targeting people over 50. They assume this demographic may have more savings, be less familiar with…

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news in one place.

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The Free Financial Advisor

7 Times Generosity Has Legal Consequences for Seniors

Generosity is a good thing. Most people want to help family, friends, or even strangers when they can. But for seniors, giving away money or assets can sometimes lead to legal trouble. The rules around gifts, taxes, and benefits are strict. One wrong move can cause problems that last for…

The Independent UK

Trump administration is reportedly looking to cut language services at the IRS

IN FULL

The Independent UK

IRS considers eliminating ability to file your taxes in language other than English

Attorney General Pam Bondi issued guidance to federal agencies earlier this month requiring them to plan for compliance with President Donald Trump’s executive order naming English as the country’s official language

Benzinga

Her Husband Didn't Pay $82,000 In Taxes And Now The IRS Plans To Levy Their Home. She's Divorcing Him, But Still Wants To Bail Him Out

A woman from Montana called into “The Ramsey Show” with a story that left hosts Dave Ramsey and Rachel Cruze shocked and frustrated. She’s a nurse who had maintained a steady career while her husband pursued real estate full time. In 2021, they earned enough money that they owed $82,000…

Kiplinger

No Capital Gains Tax on Home Sales Coming Soon? What You Need to Know

Capital gains taxes are back in the spotlight. This time, the chatter on Capitol Hill has to do with rising home prices.

Benzinga

Her Husband Believes The Government Isn't Real And That They Don't Have To Pay Back Anything. So They Didn't And Now Owe $900K In Total

A woman named Mary from Charlotte, North Carolina, called into a recent episode of “The Ramsey Show,” hosted by George Kamel and Ken Coleman, to explain how her husband’s fringe beliefs nearly destroyed their finances, and may still ruin their future.

Clever Dude

7 Bank Transfers That Created Permanent Tax Problems

Transferring money between bank accounts seems simple. But some bank transfers can create tax problems that never go away. Many people don’t realize that a single transfer can trigger IRS scrutiny, penalties, or even criminal charges. If you’re not careful, you could end up with a permanent tax issue that…

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