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The Latest Breaking News from IRS

Unclaimed Refunds Expire After 3 Years — Billions Go Unrecovered Every Summer

Unclaimed refunds sound harmless at first, but they quietly drain billions of dollars from taxpayers every year. Governments across North America place strict time limits on claiming tax refunds, and most people never realize the clock even starts ticking. Once that deadline passes, the money does not wait around and…

The Free Financial Advisor

Stop Calling it an Immunity! There's No Immunity!

It's all a figment of Todd Blanche's imagination.

Reason

A watchdog report flags security risks in the IRS-ICE taxpayer data-sharing deal

A new Treasury inspector general report raises concerns about Immigration and Customs Enforcement's ability to safeguard taxpayer information

The Independent UK

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9 Tax Deductions Seniors Over 65 Routinely Miss

Tax season can be frustrating, especially for retirees who assume their opportunities to reduce their tax bill are limited. The reality is that many older...

Saving Advice

Over 3 Million Filers Made This Withholding Mistake Last Year — Here’s How to Fix It

Tax season often surprises people, but the real shock usually starts much earlier—right on the paycheck stub. Over 3 million filers ran into trouble last year because their tax withholding didn’t match their real-life income situation. Some ended up owing hundreds or even thousands at tax time, while others gave…

The Free Financial Advisor

New IRS Matching Technology Is Catching Income Discrepancies That Used to Slip Through

Tax season just got a serious upgrade on the government side. The IRS now uses advanced matching technology that scans income records with far more precision than before. This system compares information from employers, banks, gig platforms, and third-party payers in real time. Small inconsistencies that once slipped through now…

The Free Financial Advisor

W-2 Mismatches Are Holding Up Thousands of Returns — Even Honest Mistakes Count

Tax season is already stressful, but nothing derails a refund faster than a W-2 mismatch. A single incorrect number between what a taxpayer reports and what an employer submits can freeze a return in the IRS system almost instantly. The frustrating part is that these delays don’t always signal fraud…

The Free Financial Advisor

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The Penny Is Dead, So Why Is the U.S. Mint Bringing Them Back?

While circulation ended in 2025, "dual-date" pennies are officially here. Here's why the IRS treats these coins differently from pocket change.

Kiplinger

Missing a Payment Plan After Owing the IRS Triggers Collection Actions Fast

The IRS does not wait long when taxpayers miss payments on an installment agreement. One skipped payment can put the entire arrangement at risk and open the door to aggressive collection activity. Many taxpayers assume a short delay will not matter, but the IRS operates with strict enforcement timelines that…

The Free Financial Advisor

Trump's $1.77B "anti-weaponization" fund temporarily blocked by federal judge

The plan has sparked bipartisan skepticism.

Axios

Scoop: Trump plans to drop "weaponization" fund

Trump's proposal has drawn bipartisan pushback in the GOP-led House and Senate.

Axios

Trump to nominate Todd Blanche as attorney general

Trump is elevating Blanche days after his most public setback.

Axios

Gig Workers Who Didn’t Set Aside Taxes Last Summer Are Facing Bills Right Now

Gig work brings flexibility, fast cash, and freedom to choose hours, but tax season flips that freedom upside down when money managers forget one critical detail: setting aside taxes. Many drivers, freelancers, delivery couriers, and side hustlers enjoyed strong earnings last summer and spent freely without separating tax money. Now…

The Free Financial Advisor

Treasury Secretary Refuses To Answer Questions About Trump's Proposed IRS Audit Immunity

Speaking to reporters in the Oval Office on June 3, Trump also declined to clarify whether the compensation fund had been permanently scrapped or merely put on hold.

Latin Times

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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

CP2000 Notices Are Arriving for Income People Forgot They Reported — What to Do

The IRS does not send CP2000 notices randomly, and they rarely arrive without a clear reason behind them. These notices flag differences between what taxpayers report and what third parties submit under their names. That mismatch often catches people off guard, especially when small or forgotten income sources resurface. The…

The Free Financial Advisor

Self-Employed Filers With Unusually Low Income Are Getting Flagged at Record Rates

Tax season has taken a sharper turn for self-employed workers, especially those reporting unusually low income compared to prior years or industry norms. The IRS has stepped up its detection systems, using advanced algorithms that quickly spot mismatches between earnings, expenses, and lifestyle indicators. Freelancers, gig workers, and small business…

The Free Financial Advisor

Charitable Deductions Without Proper Documentation Are Being Denied More Than Ever

Charitable giving feels rewarding, but tax season now adds a stricter layer of scrutiny that many donors overlook. The IRS has tightened enforcement on deductions tied to donations that lack proper proof, and that shift has led to a noticeable rise in denied claims. Even well-intentioned contributions can lose their…

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The Independent UK

Former IRS agent jailed for life in ‘au pair affair’ double murder case

IN FULL

The Free Financial Advisor

Direct Deposit Holds Are Delaying Refunds for Thousands of Filers This Summer

Summer usually brings a wave of tax refunds landing neatly in bank accounts, but this year tells a different story. Thousands of filers report delays tied to direct deposit holds that slow down access to expected money. Banks flag certain deposits for extra review, and those brief pauses often stretch…

The Free Financial Advisor

A Home Office Deduction Can Be a Red Flag — Here’s What the IRS Is Looking For

Remote work has exploded, and so has interest in the home office deduction. The idea sounds simple: write off part of your home expenses because a workspace exists inside your house. The IRS, however, does not hand out approval easily, especially when the numbers look inflated or poorly documented. Many…

The Free Financial Advisor

Joint Filers Are Losing Refunds Over One Spouse’s Debt — Without Prior Warning

Tax season often brings hope for a refund, but joint filers now face an unexpected financial shock that catches many couples off guard. One spouse’s old debt can suddenly drain an entire refund before it ever hits a bank account. The IRS does not always send clear warnings before redirecting…

The Free Financial Advisor

Cryptocurrency Owners Are Getting IRS Letters — Even for Small Trades

The IRS has stepped up enforcement in a big way, and cryptocurrency owners now feel the pressure even on small, everyday trades. Letters from the IRS increasingly land in mailboxes after exchanges report user activity through expanded tax forms and compliance systems. Many investors expect scrutiny only after large profits,…

The Free Financial Advisor

Soft Audits Are Up — And Most People Who Get One Never See It Coming

Soft audits are quietly becoming one of the most common financial compliance checks today. Unlike traditional audits that arrive with intense paperwork requests and high stress, these versions slip in more gently and often start with a simple letter or digital notice. They focus on inconsistencies, missing details, or unusual…

MarketBeat

Amgen Touts MariTide, AI Gains and 2026 Growth Plans at Jefferies Conference

Amgen (NASDAQ:AMGN) executives used a Jefferies investor conference appearance to emphasize the company’s first-quarter growth, its late-stage pipeline and its preparations for potential launches, including the obesity candidate MariTide. Peter Griffith, executive vice president and chief financial

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