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The Latest Breaking News from IRS

Your MAGI in Retirement: Year-End Tax Strategies to Save Money

Strategic moves now can make a difference in your modified adjusted gross income (MAGI) when it’s time to file your return.

Kiplinger

Gifting While You're Alive and Kicking: Tax Benefits and Tips

Why wait until you're gone to help the people and causes you love? Get a jump-start on gifting and see all the good you can do.

Kiplinger

Holiday Office Party Taxes: Know Before You Go

The IRS could tax your gifts from Christmas raffles, Secret Santa, and White Elephant. Here’s how.

Kiplinger

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New IRS funding boosted tax enforcement and improved taxpayer services during the Biden administration

The Internal Revenue Service has ramped up its efforts to recover unpaid taxes from millionaires. It collected more than US$1.1 billion from 1,600 wealthy Americans with known but unpaid tax debts in the 2024 fiscal year, up from just $38 million a year earlier.

The Conversation

What's New In FAFSA? A Comprehensive Guide For Students Filing in 2025-2026

Students can now begin filing their FAFSA applications and send their information to up to 20 colleges to determine the amount that they may receive as a grant for the upcoming academic year.

Latin Times

What's New In FAFSA? A Comprehensive Guide For Students Filing For 2025-2026

Students can now begin filing their FAFSA applications and send their information to up to 20 colleges to determine the amount that they may receive as a grant for the upcoming academic year.

International Business Times

What Is Capital Gains Tax Deferral?

Spoiler alert: It's the secret weapon of savvy real estate investors. Here's how it works and details about the tools you need to do it.

Kiplinger

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Don't Leave Your Heirs an IRA Tax Bomb

Your traditional IRA has served you well, but when your heirs inherit it, watch out. Consider some of these strategies to minimize their tax burdens.

Kiplinger

Tax Software vs a Tax Professional: Which Should You Choose?

The simple answer is a question: How complex are your taxes? Here's how you can decide whether you can go the easy route or need the help of a pro.

Kiplinger

Elon Musk calls to ‘delete’ US consumer finance watchdog

Tech billionaire tapped by Trump posts on X about wanting to eliminate Consumer Financial Protection Bureau (CFPB)

The Guardian - US

Trump ally Elon Musk calls to ‘delete’ US consumer protection bureau

Musk, a confidant of the president-elect, is set to co-lead Trump’s newly created Department of Government Efficiency.

Al Jazeera

U.S. Treasury Urges Congress To Unlock Billion

U.S. Treasury officials push for billion IRS enforcement funds to avoid deficit increase and audit reductions.

Top News

Holiday Shopping Tax Tips for Business Owners

Maximize your year-end savings through these key deductions to reduce your 2025 business tax bill.

Kiplinger

Could Millions of Taxpayers Be Facing the AMT (Alternative Minimum Tax) in 2025?

Millions of taxpayers could owe the AMT if Congress allows the tax breaks de-fanged in the 2017 Tax Cuts and Jobs Act to expire.

Kiplinger

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news in one place.

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Kiplinger

9 Year-End Money Moves to Make Now

Boost your retirement savings, lower your taxes and get the most out of your health insurance.

Fortune

Elon Musk's lawsuit could be the least of OpenAI's problems—its planned conversion will cost a fortune

The price tag for shedding its nonprofit shell could run into the tens of billions of dollars.

Reason

House Votes To Let Treasury Kill Politically Disfavored Nonprofits

Administrative power over financial matters is a dangerous weapon for bypassing due process.

International Business Times UK

Did Donald Trump Bribe Pam Bondi With $25K In 2013 To Not Sue Trump University?

Donald Trump's $25,000 donation to Pam Bondi in 2013 raised allegations it influenced her decision not to sue Trump University for fraud.

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Bored Panda

“They’re Too Smart”: 62 Of The Most Obvious Scams That People Still Fall For

If it sounds too good to be true, it probably is! The post “They’re Too Smart”: 62 Of The Most Obvious Scams That People Still Fall For first appeared on Bored Panda.

Roll Call

Tax-exempt crackdown measure passes despite Democrat defections - Roll Call

Democratic support evaporated for a bill to give the IRS greater authority to revoke tax-exempt status of nonprofits supporting terrorist organizations.

Kiplinger

5 FAQs About 529 College Savings Plans

Thanks to recent policy changes, families have more options for what to do with money sitting in tax-advantaged 529 accounts.

Kiplinger

How to Apply for Social Security Online or In Person at Any Age

There are two ways to apply for Social Security retirement benefits. When you apply for benefits has no impact on how you file to claim your benefits.

The Independent UK

Viral posts claim stimulus checks are on the way. Here’s what you should know

False rumor comes after exit polls revealed the economy was the biggest issue to almost one third of voters

TechRadar

Look out TurboTax — Trump government efficiency team is reportedly considering a free tax-filing app

A free tax-filing app is under consideration from the proposed Department of Government Efficiency.

Kiplinger

Tax Credit vs. Tax Deduction: What’s the Difference?

Your guide to tax deductions and credits, how the IRS treats them differently, and how they impact your tax bill.

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