IRS

The IRS is permanently blocked from pursuing claims against President Trump and his family members following a lawsuit settlement. Senate Democrats are asking 11 organizations with ties to the Trumps to clarify if they are included in the deal.

Trump Accounts, individual investment accounts for children under 18, were launched on July 4 under the Working Families Tax Cuts. A pilot program deposits $1,000 for U.S. citizens born between 2025 and 2028, with private contributions from Michael Dell and Sanjay Mehrotra. Parents or guardians can open accounts via the IRS using Form 4547, with funds accessible at age 18 for education or first-home purchases.

Some Americans are receiving refunds for IRS penalties and interest paid during the COVID-19 emergency after deadlines were postponed. The refunds are linked to delayed tax deadlines caused by the pandemic.

Texas-based 'Integrity' Tax Services allegedly filed a fraudulent tax return for a family, claiming over $30K in Schedule C business expenses against a $1,000 DoorDash income. The return included unrealistic deductions like $14K in business miles, $3K in 'deductible meals,' and $7K for a cellphone/internet, leading to a $15K refund claim instead of an estimated $6,500 legitimate refund. The company is unresponsive and appears to use a recycled 'taxi and limousine service' template for clients.

A user received a suspicious tax call from someone claiming to be with a company, alleging they owe back taxes. The user questions the legitimacy of the call, noting the IRS typically sends official notices via mail and that they have no work history. They also mention an untaxed insurance claim following their mother's 2023 passing.

A Moroccan man who claimed to be the son of Pablo Escobar was sentenced to 6.5 years in federal prison for extorting a Chicago business partner over a $1.5 million debt, involving violent threats and assaults. He faces additional charges for fraud, tax evasion, and using ill-gotten funds to finance a lavish lifestyle.

The IRS and Treasury Department announced that contributions to a Trump Account do not require filing a gift tax return. Parents, guardians, and others making such contributions are exempt from annual gift tax reporting requirements.

Chicago rapper Twista pleaded guilty to five counts of willfully failing to pay income taxes. Federal prosecutors stated he avoided paying more than $440,000 owed to the IRS over several years.

The IRS’s new CEO has hired Vince La Padula, who spent 23 years at JPMorgan managing the 'workplace solutions' business within the bank's wealth management division.

Virginia Attorney Jay Jones joined a coalition of 22 Democratic attorneys general challenging a settlement in a lawsuit against the IRS, arguing it creates a fund that could benefit Jan. 6 defendants. The coalition claims the agreement between President Donald Trump and the Justice Department is collusive and shields Trump and his interests.

The IRS performed better than expected in processing tax refunds during the 2026 tax season despite significant staff reductions, but struggled with answering phone calls, particularly for identity theft victims. A watchdog report highlighted that 59% of major account calls were answered, while compliance and identity theft lines had 34% and 19% answer rates, respectively, with identity theft cases taking nearly two years to resolve.

Nejlai Mitchell, owner of a North Carolina tax return preparation business, pleaded guilty to conspiring to prepare false tax returns that claimed fraudulent refunds based on COVID-19 tax credits. The scheme resulted in the IRS disbursing approximately $13,890,697 in fraudulent tax refund claims.

Identity theft victims are experiencing 'unconscionable' delays from the IRS, with wait times reaching nearly two years to resolve cases, as reported by the National Taxpayer Advocate.

The IRS performed better than expected in issuing refunds during the 2026 tax season despite significant workforce reductions, though phone services were an exception, according to the national taxpayer advocate.

The IRS performed better than expected in processing refunds during the 2026 tax season despite significant staff reductions but struggled with phone support, particularly for identity theft victims. The IRS reduced its workforce from 102,000 to 74,000 employees, and only 19% of calls to identity theft lines were answered, with victims waiting nearly two years for assistance.

The IRS performed better than expected in processing tax refunds during the 2026 tax season despite significant workforce reductions, but struggled with phone service and long wait times for identity theft victims. A watchdog report highlighted 59% of major account calls were answered, while compliance and identity theft lines had 34% and 19% answer rates, respectively. Over 500,000 identity theft victims face average resolution times of 20 months.

The Los Angeles Homeless Servicers Authority terminated contracts with the nonprofit Home At Last, citing failure to provide contracted services and the IRS seizing cash at an address linked to the nonprofit's founder.

The Los Angeles Homeless Servicers Authority (LAHSA) has terminated contracts with the nonprofit Home At Last, citing failure to provide contracted services and the IRS seizing cash at an address linked to the nonprofit's founder.

Four former officials from the IRS and Department of Justice filed an amicus brief urging a court to rule against President Trump’s audit immunity deal. The brief argues the agreement was unlawful and calls for judicial scrutiny.

Twenty-three Democratic state attorneys general asked a federal judge to investigate President Donald Trump over a $10 billion lawsuit against the IRS and Treasury, alleging collusive misconduct to benefit Trump and his allies. Trump dropped the lawsuit in exchange for immunity from tax audits and a scrapped 'anti-weaponization fund,' which faced bipartisan criticism. A judge reopened the case after former judges called the settlement a 'fraud upon the court.'

The IRS will offer in-person taxpayer assistance at its Baton Rouge Taxpayer Assistance Center this Saturday from 9 a.m. to 4 p.m. Visitors are encouraged to bring a current government-issued photo ID, Social Security numbers, and related documents.

A group of former IRS officials is requesting a federal judge to examine a deal that provided President Trump with immunity from past tax audits.

Republican senators are raising concerns about a Justice Department agreement granting audit immunity to President Donald Trump, his family, and businesses. The deal, part of a broader settlement with the IRS, has drawn scrutiny from lawmakers including John Cornyn, Bill Cassidy, and Susan Collins, who question its scope and potential impact on future audits.

The three largest U.S. crypto trade associations support H.R. 9175, a bill aiming to defer tax on mining and staking rewards until sale. The bill addresses IRS rules requiring immediate taxation of mined or staked assets, which industry groups argue discourages domestic activity and favors foreign competitors. The legislation allows miners and stakers to choose tax deferral and includes provisions for institutional trust structures.

Approximately 250,000 Michigan tax filers are still waiting for refunds due to delays caused by the state’s transition to a new tax processing system, GenTax. The system flags discrepancies for manual review, leading to processing delays, while officials attribute the upgrade to improved fraud prevention.

A couple faces a private student loan debt crisis totaling $245,023.66 from three Sallie Mae loans. They evaluated debt relief options, including a private debt relief company (PDR) offering 0% interest over 60 months with $1,956/month payments, but the program requires immediate loan default and carries risks like credit damage, potential lawsuits, and IRS tax obligations.

Renee Klein received a suspicious IRS letter requesting bank account information via a QR code, which she recognized as a scam due to not expecting a refund. The real IRS is mailing similar letters following a 2025 executive order to phase out paper checks, making it harder to distinguish legitimate communications from scams. Experts warn that scammers exploit this context to steal banking details, advising recipients to ignore or discard such letters.

An ex-IRS officer has been booked in a wealth-related case. The case involves allegations tied to their financial activities.

A scam job posting claiming to be from the IRS was sent via Indeed, with the associated company's LinkedIn profile not listing the job. The scammer has a history of scams spanning over five years, and the email sent by the scammer was later blocked as spam.

The article discusses the 'Great Wealth Transfer' and highlights Medicaid cuts and an IRA tax trap as significant threats to family inheritances. It warns that the IRS or nursing homes could claim inherited assets and provides guidance on mitigating these risks.

Required minimum distributions (RMDs) mandate withdrawals from traditional retirement accounts starting at age 73, with strategies like early planning and Roth account conversions suggested to minimize tax impacts. Experts advise avoiding penalties by adhering to withdrawal rules and leveraging tax-efficient methods such as charitable donations.

The article outlines five strategies for avoiding IRS tax penalties in 2026, including adjusting year-end withholding, using prior-year tax benchmarks, and annualized income calculations. A certified public accountant highlights challenges with unpredictable incomes and offers methods to meet IRS requirements without penalties.

A couple moved to Portugal, were both laid off, and started a micro-marketing LLC together. They used skills from their decade-long marriage to navigate challenges and maintain both their business and relationship.

Hardship withdrawals from 401(k) plans reached a record high in 2025, with 6% of participants using this option amid rising inflation and living costs. Experts warn of significant financial costs and recommend alternatives like loans or credit cards. The IRS and employers govern strict rules for qualifying needs, including medical expenses, education costs, and home purchases.

A US federal judge extended a block on the Trump administration’s $1.8bn settlement fund aimed at compensating individuals claiming to be victims of a weaponized government. The fund was created to address a lawsuit against the IRS over leaked tax returns, but the government announced plans to scrap it amid bipartisan backlash, though plaintiffs’ attorneys remain unconvinced.

A US federal judge extended a block on the Trump administration’s $1.8bn settlement fund aimed at compensating individuals claiming to be victims of a weaponized government. The administration previously created the fund to address a lawsuit against the IRS over leaked tax returns, but plans were scrapped amid bipartisan backlash.

A federal judge denied a temporary restraining order on President Donald Trump’s $1.8 billion 'anti-weaponization' fund, citing mootness after acting Attorney General Todd Blanche stated the administration is not proceeding with the plan. Legal group CREW challenged the fund’s validity, arguing Blanche’s verbal rescission lacks written confirmation, while the DOJ claims no funds have been distributed.

The new Education Freedom Tax Credit allows taxpayers to claim a dollar-for-dollar credit up to $1,700 for donating to scholarship granting organizations (SGOs), which can fund both private and public school scholarships. Advocates argue this could benefit public schools by attracting taxpayer support, while critics warn it may divert funds from public education to private institutions.

A Treasury inspector general report highlights security risks in the 2025 IRS-ICE data-sharing agreement, which allowed ICE to request taxpayer information for immigration investigations. The report found inconsistent data formatting led to errors in matching records, resulting in questionable disclosures of 47,000 individuals' addresses. A federal judge previously ruled the IRS illegally shared the same data with ICE.

Filing an extension for income taxes delays paperwork but not payment. The IRS continues to charge daily penalties if taxes remain unpaid, urging individuals to settle their estimated bills immediately.