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The Latest Breaking News from the Internal Revenue Service

IRS Sets December Hearing on Proposed Tax-Exempt Rules for Racial Nondiscrimination at Private Schools

The Internal Revenue Service has scheduled a December public hearing on proposed regulations that would update federal tax-exemption rules governing racial nondiscrimination at private schools.

The Free Financial Advisor

IRS Opens 2027 Corporate Tax Compliance Program — Applications Due October 30

Large corporations interested in resolving federal tax issues with the IRS before filing their returns have a limited window to apply for a program designed to do exactly that. The Internal Revenue Service announced on September 8 that it is accepting applications for the 2027 Compliance Assurance Process, commonly known…

The Free Financial Advisor

IRS Proposes New Eligibility Rules for Refundable Payments From 4 Tax Credits

The Internal Revenue Service and the Department of the Treasury have issued a notice of proposed rulemaking that would classify the refunded portion of certain federal refundable tax credits as a “Federal public benefit” under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA). The proposal was published…

The Free Financial Advisor

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Treasury's New Rule Could Strip Tax Refunds From DACA, TPS Holders and Other Legal Immigrants

A new Treasury and IRS rule would block DACA recipients, TPS holders and other lawful immigrants from refunda,ble tax credit refunds.

Latin Times

IRS Proposes New Funding Rules for Traditional Employer Pension Plans

The Internal Revenue Service has issued a notice of proposed rulemaking that would update the regulations governing how single-employer defined benefit pension plans calculate their...

Saving Advice

IRS Proposes New Restrictions on Refundable Tax Credits for Some Immigrants

The Department of the Treasury and the Internal Revenue Service have issued proposed regulations that would clarify eligibility requirements for the refunded portions of certain individual income tax credits, according to an official IRS announcement designated IR-2026-93.

The Free Financial Advisor

IRS Issues New Guidance on Expanded Paid Family and Medical Leave Tax Credit

The Department of the Treasury and the Internal Revenue Service have issued official guidance on an expanded employer tax credit for paid family and medical leave (PFML), according to an announcement from the two agencies. The guidance, published as Notice 2026-28, addresses changes made under legislation called the Working Families…

The Free Financial Advisor

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Todd Blanche for Attorney General?

Rescinding the egregious Slush Fund Order should not obscure the fact that Blanche was a central participant in, and possibly the architect of, a scheme to defraud the court and the American taxpayer. The one job he is surely not qualified for is the one he now seeks.

Reason

IRS Warns Tax Professionals About New Phishing Scams Targeting Client Data

The Internal Revenue Service and its Security Summit partners have issued a warning to tax professionals to be on guard against phishing emails and other schemes aimed at stealing sensitive taxpayer data, according to an official IRS announcement.

Everybody Loves Your Money

The Latest: US and Iran trade strikes as hopes dim for a quick resolution

Back-and-and-forth missile strikes between the U.S. and Iran are dimming hopes for a deal to end the war as more countries are drawn in

The Independent UK

US Senate delays vote on Todd Blanche''s attorney general nomination demanding clarity on Trump's IRS lawsuit

The US Department of Justice said in a statement after the vote was postponed that it remains ready to work productively with senators Cornyn and Tillis to advance Blanche’s confirmation.

Euronews

IRS Whistleblower Program Has Recovered More Than $8 Billion and Paid Over $1.4 Billion in Awards Since 2007

The Internal Revenue Service is recognizing National Whistleblower Day by highlighting the success of its Whistleblower Program, which has helped recover more than $8 billion in taxes, penalties, and other amounts since the program began in 2007. During that same period, the IRS has paid more than $1.4 billion in…

The Free Financial Advisor

IRS Issues Correction to Updated Qualified Domestic Trust Regulations Under Section 2056A

The Internal Revenue Service has published a correcting amendment to recently finalized regulations governing Qualified Domestic Trusts (QDTs) under Internal Revenue Code Section 2056A. Published in the Federal Register on July 24, 2026, the amendment makes technical corrections to final regulations issued earlier in the month and became effective immediately…

The Free Financial Advisor

IRS Replaces First Time Abate Program With Automatic Penalty Relief for Taxpayers With Clean Compliance History

The Internal Revenue Service is replacing its long-standing First Time Abate (FTA) program with a new system called Automatic Exemption from Penalty (AEP), making it easier for taxpayers with a strong compliance history to receive penalty relief. Announced on July 8, the new process is designed to automatically remove certain…

The Free Financial Advisor

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Benzinga

Spain Wins FIFA World Cup, But IRS May Be Biggest Winner: Here's Why

In a thrilling conclusion to the World Cup championship, Spain emerged as the victor, securing the $50 million first-place prize from FIFA. However, this victory is not without its financial implications, as the winnings are subject to taxation by the Internal Revenue Service (IRS).

France 24

US judge voids Trump's 'improper' $1.8 billion settlement with IRS

A US judge on Monday voided a settlement between President Donald Trump and the Internal Revenue Service over his leaked tax returns, ruling the lawsuit was filed for an "improper purpose". The agreement had granted Trump, his family and business broad protections from tax audits following their $10 billion lawsuit.

The Economic Times

US judge declares Trump's tax deal 'improper', leaving future financial implications unclear

A US judge on Monday voided a settlement between Donald Trump and the Internal Revenue Service giving the president and his allies sweeping protections from audits, ruling that his lawsuit over leaked tax returns had been filed for an "improper purpose."

The Free Financial Advisor

IRS Announces 27 States Have Opted Into New Federal Scholarship Tax Credit Program

The Internal Revenue Service announced that 27 states have elected to participate in the Federal Scholarship Tax Credit (FSTC) program, a new federal initiative that allows eligible taxpayers to claim a tax credit for contributions made to qualifying scholarship organizations.

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The Times of India

Illegal immigrant in US sentenced to 8 years for helping businesses hire undocumented workers, defrauding government of $38 million

Mario Flores, a national from Honduras, has been sentenced to eight years in prison due to his involvement in a large-scale payroll tax fraud operation. He facilitated businesses in dodging taxes and employing undocumented workers via an illicit cash system, orchestrating millions in fraudulent transactions. Notably, his girlfriend received a…

The Free Financial Advisor

IRS Paper Return Processing Is Now Taking Up to 6 Months — Here’s the Faster Option

Tax season already brings enough stress without adding months of waiting for a refund. The Internal Revenue Service now reports that paper tax returns can take up to six months to process, creating long delays for millions of filers. That timeline can turn a simple refund into a waiting game…

The Free Financial Advisor

Millions of Americans Miss This June Tax Deadline Every Year — And Pay a Penalty for It

Tax season may feel like ancient history once April passes, but the Internal Revenue Service still has another important date waiting on the calendar. Every June, millions of Americans face a tax deadline that receives far less attention than Tax Day. Unfortunately, many taxpayers do not realize it exists until…

International Business Times UK

Where Was $1.776 Billion Going? The Shocking List of People Blocked by New 'Slush Fund' Bill

US senators Mark Kelly, Adam Schiff and Elissa Slotkin have introduced the Drain the Slush Fund Act to shut down Donald Trump's $1.776 billion 'anti‑weaponisation' fund.

The Economic Times

Trump reconsidering $1.8 billion fund, AP source says, as Justice Department temporarily pauses it

President Donald Trump is rethinking a massive fund for his allies. The Justice Department has paused its implementation following a court order. This move comes amid strong opposition from Republican lawmakers concerned about oversight and potential payouts to participants of the January 6th Capitol riot. The fund was established to…

The Economic Times

Donald Trump immunity from IRS audit shocks experts, who warn it could undermine trust in tax system

Donald Trump's tax probes have ended. The Internal Revenue Service agreed to drop all pending investigations into the former president's tax payments. This decision came as part of a settlement for a lawsuit Trump filed over a leak of his tax returns. The agreement grants Trump and his organisation immunity…

France 24

Arsenal clinch Premier League title after 22-year drought

PRESS REVIEW – Wednesday, May 20, 2026: The 17th Ebola outbreak in the DR Congo is getting a lot of coverage. Papers are looking into the impact of recent aid cuts on the emergency response plan. In the United States, President Donald Trump's battle with the Internal Revenue Service continues…

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