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The Latest Breaking News from Tax Return

Morning Mail: ATO rebuked after 97-year-old fined, Keating defends tax changes, outrage over Israel video of flotilla activists

ATO fined woman for late tax return after husband’s death

The Guardian - AU

Donald Trump's IRS lawsuit dismissed with a $1.76 billion fund settlement: Here's the full breakdown of the tax leak case

Trump IRS tax leak settlement: The US administration has established a $1.76 billion fund to address claims of government "weaponization" following a lawsuit by Donald Trump and his family. This settlement resolves Trump's suit against the IRS over leaked tax returns, though he will not receive direct payment but an…

The Economic Times

The IRS’s “Math Error” Notice Could Cost You More Than You Think

The IRS rarely makes big announcements without consequences hiding behind the fine print, and the “Math Error” notice stands out as one of the most overlooked. This notice often arrives after a tax return review and signals that something on a return does not add up according to IRS systems.…

The Free Financial Advisor

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Income tax return AY 26-27: Excel utility, online filing for ITR-1, and ITR-4 forms now available on e-filing portal

Income tax return AY 26-27: The Income Tax Department has launched Excel utilities and online filing for ITR-1 and ITR-4 for the Assessment Year 2026-27. Taxpayers earning up to Rs 50 lakh, with specific income sources, can now prepare and file their returns.

The Economic Times

5 Reasons Your 401(k) Could Trigger a Tax Surprise Next Year

Retirement accounts usually carry a reputation as safe little money shelters, but tax season loves a plot twist. A healthy 401(k) balance can look fantastic on a quarterly statement while quietly setting up a larger IRS bill down the road. Plenty of Americans focus on contributions, employer matches, and investment…

The Free Financial Advisor

How much a new $1,000 tax offset would really be worth – and who’s better off avoiding it

When Australian workers lodge a tax return from mid next year, around 6 million taxpayers look set to be able to claim up to A$1,000 with an “instant” work-related tax deduction, without receipts. The Albanese government has just released draft legislation on the change.

The Conversation

Colorado Renters: The New 2026 Renter’s Tax Credit You Must Apply For to Receive

If you rent in Colorado, 2026 could finally bring some long-awaited tax relief, but only if you take action. A newer Colorado renter’s tax credit...

Saving Advice

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4 Grocery Purchases That May Qualify for Medical Deductions This Tax Season

Preparing your annual tax return is incredibly stressful for families trying to maximize their financial refunds. Most people understand that visits to the doctor and expensive prescription medications count toward their annual health expenses. However, many taxpayers completely overlook the potential savings hiding directly inside their weekly supermarket receipts. The…

Grocery Coupon Guide

Mortgage Rates in 2026 Predicted to Drop: These 3 Signals Tell You It's Time to Buy

April's rate volatility is just the tip of the iceberg. See how your freshly filed tax return and shifting property taxes could dictate home affordability this spring.

Kiplinger

Unreported Income: How the IRS Finds Out (and What It Costs You)

The fastest way to turn a good year into a financial nightmare involves ignoring income that never makes it onto a tax return. That decision might feel harmless in the moment, especially when the money comes from a side gig, freelance project, or cash payment that seems invisible. Yet the…

The Free Financial Advisor

Why Small Errors on Your Tax Return Can Cost You Big

A single wrong number can spark a chain reaction that drains money, time, and patience faster than expected. Tax returns look simple on the surface, but they demand precision at every step, and even the smallest slip can ripple into something much bigger. A misplaced digit, a forgotten form, or…

The Free Financial Advisor

Warren Buffett's first tax return showed $7 owed to the IRS. The then-paperboy and former Berkshire Hathaway CEO is now worth $143 billion

That’s a far cry from the $26.8 billion Buffett said his company Berkshire Hathaway paid in 2024 taxes.

Fortune

IRS Mailing Warning: Why Your Tax Return Could Be Considered Late Even If Sent by April 15

If you’re someone who waits until the last minute and drops your tax return in the mail on April 15, there’s a new risk you...

Saving Advice

Tax fraud by 4 Indian-origin accountants in Texas: Their clients received more returns, US govt lost millions of dollars

Four Indian-origin individuals have pleaded guilty to a massive fraud in Texas that cost the US government millions of dollars. Subhala Suresh, Matthews Chacko, Anish Pillai, and Mou Kundu defrauded the government by preparing false federal tax returns for their clients that included false expenses. As a result, their clients…

The Times of India

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The Free Financial Advisor

IRS Audits Very Few Returns — But These 5 Triggers Put You at Risk

A tax return travels through a system built to notice patterns, flag outliers, and question anything that looks even slightly off. That system doesn’t need to audit everyone to stay effective, and it doesn’t try to. The IRS audits a very small percentage of returns each year, which sounds comforting…

Kiplinger

Your Mailed Tax Return Could Be Late Under New USPS Postmark Rules: Here's Why and How to Avoid IRS Penalties

If you wait until April 15 to mail your IRS tax return, you might be in for an unpleasant surprise.

Kiplinger

5 Quick Tax Tips for Retirees for 2025 and 2026, From a Financial Planner

These five key tax strategies can help retirees navigate new rules and deductions, reduce your taxes and preserve more of your retirement income.

GOBankingRates

5 Mistakes Freelancers Make That Could Trigger an IRS Audit

By avoiding these common mistakes, freelancers can make their tax return less likely to be flagged for further scrutiny and protect hard-earned profits.

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The Free Financial Advisor

How a Small Mistake on Your Tax Form Can Spiral Into Big Trouble

The moment that tax return gets submitted, a clock starts ticking. Numbers lock into place, records get stored, and suddenly every detail carries weight. A single incorrect digit or missed form does not just sit quietly in a system—it sets off a chain reaction that can grow faster than expected.…

Kiplinger

Ask the Editor, April 3: Questions on Tax Return Filing Deadline

In this week's Ask the Editor Q&A, Joy Taylor answers questions on the due date for filing your federal tax return and other tax filing subjects.

The Free Financial Advisor

Refunds Are Being Frozen Over Missing Bank Details — And Some Filers Won’t Get Paid for Weeks

Imagine this: you’ve filed your taxes, you’re expecting that sweet refund you’ve been dreaming about, and then… crickets. No deposit, no email, no update — just silence. It turns out that one tiny step many people skip (or mess up) — putting correct bank account details on their tax return…

Kiplinger

Ask the Editor, March 27: Questions on the Tax Filing Season

In this week's Ask the Editor Q&A, Joy Taylor answers questions on the IRS and how the 2026 tax filing season is going so far.

The Free Financial Advisor

Refunds Are Being Delayed Over New IRS Identity Flags — Why More Returns Are Getting Pulled

The clock starts ticking the moment a tax return gets filed, and for millions of people, that ticking feels louder than ever this year. Refunds that usually show up like clockwork now stall without warning, leaving bank accounts in limbo and patience wearing thin. The culprit does not come down…

Axios

Republican Sen. Rick Scott sues Booz Allen Hamilton over leaked tax returns

Scott's tax returns were leaked by an IRS contractor working through the firm.

The Free Financial Advisor

The IRS Is Flagging More Returns This Year—And One Detail Keeps Triggering Reviews

A tax return can move smoothly from submission to refund, or it can hit a wall that stops everything cold. This year, that wall shows up more often, and one specific detail keeps setting it off. The IRS has increased scrutiny in key areas, and that shift has changed how…

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