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The Latest Breaking News from IRS

Is the IRS Coming for Your Gambling Winnings?

The latest tax audit on unreported income points to high-income, high-wealth gamblers. Could

Kiplinger

Tax veterans see protracted standoff over expiring breaks - Roll Call

The growing possibility of divided government next year has some predicting the 2025 tax fight could stretch into 2026 and beyond.

Roll Call

Has Your Dream Nest Egg Become a Tax Nightmare? What You Can Do About It

Retirement savers with big bucks in traditional IRAs and pretax 401(k)s could face huge tax bills when their RMDs kick in. Here's a potential solution.

Kiplinger

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Changing OpenAI's nonprofit structure would raise questions about its future

The artificial intelligence maker OpenAI may face a costly and inconvenient reckoning with its nonprofit origins even as its valuation recently exploded to $157 billion

The Independent UK

Documents show OpenAI's long journey from nonprofit to $157B valued company

Back in 2016, the artificial intelligence maker OpenAI had just incorporated as a nonprofit and applied to the Internal Revenue Service for tax-exempt status

The Independent UK

Five Ways Your Boss Can Step Up in the Aftermath of a Hurricane

The IRS offers some tax advantages for employers that financially help their employees during federally declared disasters.

Kiplinger

How to Open a 401(k): Five Rules to Follow

Whether you're starting a new job or have never opened a 401(k) account, it's time! Here's how to open an account in five steps.

Kiplinger

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Six Tax Deadlines for October 15 You Don't Want to Miss

You might know about the federal tax return extension deadline, but did you know about these other tax deadlines for Oct. 15?

Kiplinger

The Truth About Hurricane Relief, FEMA, and Your Taxes

Don't believe rumors. Get accurate information to navigate hurricane disaster relief.

Kiplinger

IRS Sued for Millions Over Employee Retention Credit (ERC) Delays

The pandemic-era tax refunds for businesses have been a contention point for the agency, now employers are fighting for their cash.

Kiplinger

Want to Turn Your Tax Bill Into a Refund? What to Do Now

A few easy steps can help you avoid writing a check to the IRS. And if your most recent refund was a whopper, you might want to consider a few adjustments.

Kiplinger

Hurricane Helene Aftermath: IRS Tax Relief and How to Help

Following the destruction in the southeast U.S., IRS officials and several states have extended tax deadlines for affected taxpayers. Here are the payments and filings that qualify.

Kiplinger

Congressional estimators find sharply lower revenue take from Harris tax plans - Roll Call

Nonpartisan analysts said Harris' plans are unlikely to generate the amount of revenue the Biden-Harris administration previously estimated.

Roll Call

Farewell Paper I-Bonds: Savings Bonds Are Going Online-Only

The last remaining way to buy a paper savings bond in the U.S. (with your income tax refund) won't be available from January 2025. Tax filers will still be able to buy I-bonds online, however.

Kiplinger

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Top News

IRS Expands Direct File Program For Taxpayers

IRS expands Direct File program for free tax filing, now permanent in 24 states, open to 30M+ people.

The Independent UK

Taxpayers in 24 states will be able to file their returns directly with the IRS in 2025

The IRS is expanding its program that allows people to file their taxes directly with the agency for free

Kiplinger

What is Net Investment Income Tax (NIIT) and Who Pays It?

Find out which income levels are subject to the 3.8% NIIT surtax.

inkl

Navigating Tax Deductions: Essential Breaks for Small Businesses

Managing business finances can be challenging, especially for those lacking experience. Proper organization and record-keeping are crucial for accurately reporting taxes and maximizing deductions, which can significantly reduce tax liability and improve financial health.

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Reason

Held Hostage Overseas? The IRS Wants Your Back Taxes.

The IRS fines hostages for taxes they couldn't pay while they were detained. A bill in Congress is trying to fix this.

Kiplinger

IRS Solar Tax Credit Payouts Soar as Scams Target Homeowners

Clean energy tax credits are paying off for many, but experts warn of increasing scams.

Fortune

The IRS just paid 3 whistleblowers a record $74 million award—and tax evaders should be very afraid

While this kind of collaboration between the government and whistleblowers is common under most other programs, it was almost unheard of at the IRS.

Kiplinger

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.

Fortune

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.

Latin Times

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.

The Conversation

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…

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