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The Latest Breaking News from Tax Return

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

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

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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

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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

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…

The Free Financial Advisor

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.

Kiplinger

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.

GOBankingRates

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.…

The Free Financial Advisor

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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…

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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…

Kiplinger

4 Smart Ways to Use Your Tax Return for Financial Planning

Don't just file your tax return and forget about it. Reviewing it will reveal how financial decisions have played out, and how to make better ones in future.

GOBankingRates

Tax Day Countdown: 4 Smart Moves To Make Before You Hit ‘Submit’

Before you hit “submit,” be sure to review your tax return for errors, missed credits, payment options and banking details to avoid penalties and delays.

Kiplinger

People Are Using AI to Find Bigger Tax Refunds: Here’s What the IRS Says

Viral posts claim AI chatbots can review a filed tax return and uncover missed refund money. Here’s what the technology can realistically do and when it may make sense to file an amended return.

Saving Advice

7 IRS Letters Seniors Should Never Ignore This March

Tax season often brings a stack of envelopes, but when one of them comes from the IRS, it deserves your full attention. Many seniors assume...

Kiplinger

Ask the Editor, March 13: Questions on Medicare Premiums and IRMAA

In this week's Ask the Editor Q&A, Joy Taylor answers questions on monthly Medicare premiums, IRAA and tax-deductible medical expenses.

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