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The Latest Breaking News from IRS

Top Tax Stories of 2024 and Key Changes to Watch for 2025

The Kiplinger tax team is looking back at popular tax stories and looking ahead to potential tax changes in the new year.

Kiplinger

A million US taxpayers to get pandemic-era stimulus checks worth up to $1,400

IRS says payments going to those who did not claim under 2021 recovery rebate plan in what may be final installment

The Guardian - US

Should you take the home mortgage interest deduction?

The home mortgage interest deduction can help some filers maximize their tax refund. But it’s less useful now than in years past—here’s what you need to know.

Fortune

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IRS is sending unclaimed stimulus checks to 1 million taxpayers. How to find out if you’re one of them

These payments will be automatically sent to eligible taxpayers by the end of the month

The Independent UK

The IRS is sending $1,400 stimulus checks to 1 million taxpayers

The automatic deposits will be issued “later this month” and should arrive ”in most cases” by late January 2025.

Fortune

‘God is not done with America’: Trump supporters take victory lap at star-studded Turning Point USA event

AmericaFest showcased Maga’s commitment to mobilizing conservative evangelicals into the Republican party base

The Guardian - US

IRS To Send Out Special 'Stimulus' Payments To 1 Million Taxpayers

Special payments — up to $1,400 per person — will be automatically deposited into taxpayers' bank accounts or mailed as paper checks, in the coming weeks.

International Business Times

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Top 10 Myths About 1031 Exchanges, Debunked

Are you confused about 1031 exchanges? This brief guide busts the top myths about real estate's favorite tax-deferral strategy.

Kiplinger

IRS To Distribute Special Payments To Eligible Taxpayers

IRS is issuing special payments to 1 million taxpayers who missed claiming the Recovery Rebate Credit. Payments up to IRS To Distribute Special Payments To Eligible Taxpayers,400 will be automatically distribu...

Top News

A million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now?

Approximately 1 million taxpayers will automatically receive special payments of up to $1,400 from the IRS in the coming weeks

The Independent UK

The IRS Is Sending Up to $1,400 to One Million People: Are You Eligible?

A million taxpayers overlooked valuable tax relief during the pandemic and could receive an automatic payment.

Kiplinger

New book Dust & Grooves Vol.2 tells the tall tale of the scam records that could make collectors a fortune

Some of today’s most in-demand rare records actually weren’t meant to be bought at all…

MusicRadar

QCD Limit, Rules, and How to Lower Your 2026 Taxable Income

A QCD can reduce your tax bill in retirement while meeting charitable giving goals. Here’s how.

Kiplinger

10 Ways Your 1031 Exchange Can Go Horribly Wrong

Don't let your tax-saving strategy become a financial nightmare — discover the hidden pitfalls that could turn your 1031 exchange into a costly disaster.

Kiplinger

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The Independent UK

Trump and his cronies will look to attack unfavorable non-profits, watchdog warns

Watchdog calls out ‘worrying progression of Trump’s authoritarianism that would undermine our democracy’

The Independent UK

How you could benefit from tax-loss selling this year

The U.S. market gained more than 25% for the year to date through mid-December 2024

Kiplinger

New Law Delivers Tax Breaks to Natural Disaster Victims, But Is It Enough?

The legislation provides critical tax relief to thousands of natural disaster victims across the country.

Kiplinger

Youngkin Pushes Virginia Tax Relief: Car Tax Credits and No Tax on Tips

No tax on tips was a popular refrain during the presidential campaign. Now, Virginia’s governor has a similar plan and is looking at car taxes.

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The Guardian - US

Trump planning to target progressive non-profits, US watchdog warns

Congressional Integrity Project creates initiative to counter growing ‘authoritarianism’ and defend progressives

Kiplinger

Three Ways Fiduciary Financial Planners Put You First

Fiduciary financial advisers are required by law to work in your best interest. Here's how they are key to intentional and efficient financial management.

The Guardian - US

New York tax preparer called ‘the Magician’ charged for tax fraud of $145m

In the decade-long scheme, Rafael Alvarez provided false documents that reduced individuals’ tax burden

Kiplinger

How Selling a Losing Stock Position Can Lower Your Tax Bill

Unloading an underperforming stock can help keep your investment returns growing while trimming your tax bill. Here's how this strategy works.

Kiplinger

On the Naughty List: Holiday Tax Scams to Look Out For

The IRS says scammers are on the prowl for your financial information. Know the signs so you don't fall victim.

The Conversation

Trump’s 2017 tax cuts expire soon − study shows they made income inequality worse and especially hurt Black Americans

The Tax Cuts and Jobs Act, a set of tax cuts Donald Trump signed into law during his first term as president, will expire on Dec. 31, 2024. As Trump and Republicans prepare to negotiate new tax cuts in 2025, it’s worth gleaning lessons from the president-elect’s first set of…

International Business Times

Filing Season Nears: Updated Tax Brackets For 2024, 2025 Revealed

Standard deductions, AMT exemptions, and other tax provisions will be impacted by the inflation adjustments that the IRS has announced for the 2025 tax year. Find more about the modifications and how your taxes can be impacted.

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