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The Latest Breaking News from IRS

IRS Budget Axed: $2.8 Billion Cut Sparks Partisan Clash

A House Appropriations subcommittee has passed legislation that would allocate $9.5 billion to the IRS for fiscal year 2026, marking a decrease of more than 20% compared to the agency's current $12.3 billion funding.

Benzinga

Social Security Garnishment Rules: What Retirees Need to Know

Do you know who can garnish your monthly Social Security benefit? Or take the funds from your bank account? Learn how to protect your benefits from creditors.

Kiplinger

Adam Schiff Says Your IRS Data May Have Been Breached — And Not By A Hacker, But Donald Trump: 'Consider This Your Warning'

Rep. Adam Schiff (D-Calif.) is urging Americans to treat their tax records as already compromised, blaming what he calls an "unprecedented" data grab engineered by President Donald Trump.

Benzinga

From analysis to the latest developments in health,
read the most diverse news in one place.

Is a Fourth Stimulus Cheque Coming in 2025? Here's Why You Shouldn't Hold Your Breath

No fourth federal stimulus cheque approved for 2025 as economic indicators improve and Congress shows no plans for new direct relief payments.

International Business Times UK

10 Retirement Scams Targeting People Over 60 Right Now

If you’re over 60, chances are you’ve become a target for fraudsters looking to exploit your hard-earned savings. As retirees settle into what should be...

Saving Advice

6 Financial Accounts That Should Never Be Jointly Held

Money brings people together. But it can also tear them apart faster than you’d imagine. While joint accounts seem like the natural next step in serious relationships, some financial accounts should remain strictly individual. The wrong choice here can cost you thousands of dollars, damage your credit score, and create…

Clever Dude

Grant Cardone Explains Why The 401(k) Is 'The Biggest Scam' In Finance

Financial personality Grant Cardone has shared a bunch of hot takes throughout his career, including his latest tidbit about 401(k) and IRA plans. He refers to these retirement accounts as "the biggest scam" in finance.

Benzinga

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New Cap on Gambling Loss Deductions Begins Soon: What to Know Now

A gambling losses tax deduction cap in Trump’s “Big Beautiful Bill” is causing an uproar. Here’s what you need to know.

Kiplinger

These 5 Tax Hacks Could Get You Audited

If someone is recommending an easy "tax hack," this should be a sign to stop and do your research, or get professional advice, before you follow suit.

GOBankingRates

Estate Sales Are Being Canceled Due to This New IRS Rule

Estate sales have always been a way for families to handle the belongings of loved ones who have passed away. They help people clear out homes, settle debts, and sometimes even find hidden treasures. But now, a new IRS rule is causing many estate sales to be canceled. This change…

The Free Financial Advisor

8 Government Agencies That Still Use Paper Files At Your Expense

In an age where nearly everything has gone digital, many people assume that government agencies have also embraced streamlined, paperless systems. After all, businesses, banks,...

Saving Advice

What Happens When a Joint Bank Account Owner Dies?

When you open a joint bank account, you probably don’t think about what happens if one owner dies. But this is a real issue that can affect your money, your family, and your peace of mind. Many people use joint accounts for convenience, to pay bills, or to help a…

The Free Financial Advisor

An American who helped North Korean IT workers rake in $17.1 million faces sentencing in scheme that tricked hundreds of Fortune 500 companies

Arizona woman Christina Chapman carefully oversaw at least 90 laptops at her home and shipped dozens of others to China, Russia, the UAE, and Nigeria, authorities said.

Fortune

Ask the Editor, July 18: Questions on the $6,000 Senior Deduction

In this week's Ask the Editor Q&A, we answer tax questions from readers on the new $6,000 deduction for taxpayers 65 and older.

Kiplinger

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Reason

The CEO of NPR Made the Best Case for Defunding It

The notion that NPR can somehow become unbiased is about as believable as the IRS sending you a fruit basket to commend you for filing your taxes.

Kids Ain't Cheap

Child Savings: 11 Unexpected Taxes That Destroy Child Savings

Image source: 123rf.com

The Free Financial Advisor

8 Estate Planning Moves That Cost More Than They Save

Estate planning is supposed to make life easier for your loved ones and protect your assets. But some decisions, even if they seem smart at first, can end up costing you more than they save. Mistakes in estate planning can lead to higher taxes, legal headaches, and family disputes. Many…

The Free Financial Advisor

10 Times a GoFundMe Campaign Led to Legal Trouble

GoFundMe has changed how people ask for help. It’s easy to set up a campaign and share your story. But sometimes, things go wrong. Some campaigns end up in courtrooms instead of helping hands. If you’re thinking about starting a GoFundMe or donating to one, you need to know the…

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news in one place.

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Benzinga

Trump Admin Grants ICE Access To 79 Million Medicaid Records — California AG Rob Bonta Calls It 'Unprecedented' Privacy Breach

The Trump administration will give Immigration and Customs Enforcement access to the personal data of nearly 79 million Medicaid enrollees, a trove that includes names, addresses, birth dates, race and ethnicity, and Social Security numbers, according to an agreement obtained by The Associated Press.

Clever Dude

8 Tax Moves That Could Cause Penalties This Year

Tax season is something that stresses a lot of people out. And if you’re like many Americans, you might be thinking about your tax situation all year long. One wrong move could potentially trigger some hefty tax penalties. Taking the time to understand what landmines are lurking in common tax…

Texas Observer

How Trump’s IRS May Unshackle Churches from Their Political Restraints

As if everyday life in these United States wasn’t politicized enough, your local house of worship could soon become a part of the campaign battlefield.

Everybody Loves Your Money

8 Government Databases That Contain Your Personal Info Right Now

At this very moment, numerous branches of the U.S. government are quietly holding onto detailed pieces of your life. From your birthday and Social Security number to your travel habits and financial transactions, it’s all stored somewhere in a government-run database.

Kiplinger

New SALT Cap Deduction: Unlock Massive Tax Savings with Non-Grantor Trusts

The One Big Beautiful Bill Act's increase of the state and local tax (SALT) deduction cap creates an opportunity to use multiple non-grantor trusts to maximize deductions and enhance estate planning.

Bored Panda

23 Of The Most Entertaining ‘It Doesn’t Work Like That’ Stories, Told By Professionals In This Online Community

Members of this online group share 42 common myths they have to explain to people who aren't in the same professional field.

Reason

Leaked Blueprint Reveals ICE Plan To Use IRS Data To Increase Detentions

ICE wants to access confidential IRS data to locate tax-paying undocumented immigrants and boost detention numbers.

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