The Latest Breaking News from The Kiplinger Tax Letter

The IRS is Ramping up Tax Audits

Wealthy individuals, large corporations and partnerships are all audit targets, thanks in large part to the IRS's multi-billion dollar windfall.

Kiplinger · May 24, 2024

Knowing How to Compute Tax Basis in Your Home Can Save You Money

Whether you're selling or buying a home, you'll want to know how to compute tax basis. It could save you on taxes when you sell.

Kiplinger · Apr 26, 2024

Expert Tax Tips for Excess 529 Plan Funds: The Tax Letter

529 plans can help blunt the cost of paying for college. But if you want to use leftover funds there are some tax tips to bear in mind.

Kiplinger · Mar 9, 2024

Congress is Eyeing Tax Changes for 2024 — The Tax Letter

Lawmakers will negotiate a raft of potential tax changes when Congress returns in January. We take a look at what could be included.

Kiplinger · Dec 30, 2023

Educational Tax Breaks and Deadlines: The Tax Letter

Teachers have just a few more weeks to max out a tax deduction for 2023 and the GOP has some tax options if they want to expand school choice.

Kiplinger · Dec 12, 2023

Tax Plans of the 2024 Presidential Candidates

Joy Taylor reviews the tax plans of the 2024 election candidates. With a raft of tax provisions due to expire in 2025, the tax stakes couldn't be higher.

Kiplinger · Dec 1, 2023

IRA Rollover Rules: What You Need to Know

Three important IRA rollover rules to remember. As always, getting taxes wrong can be costly.

Kiplinger · Nov 30, 2023

GOP Lawmakers Demand SALT Deduction Cap Increase: Tax Letter

Republicans from high-tax states are clamoring for the SALT deduction cap to rise from its $10,000 limit.

Kiplinger · Nov 17, 2023

2025 Year-End Tax Planning Can Protect You From a Big Tax Bill

With a short time left before 2025 comes to a close, year-end tax planning is all-important. Here are some areas to focus on.

Kiplinger · Nov 4, 2023

How Tax Laws and IRS Can Help If You're a Victim of Helene, Milton or Other Federally Declared Disasters

Did you know that, in addition to the tax filing and payment extensions, individuals can deduct some losses attributable to federally declared disasters?

Kiplinger · Sep 23, 2023