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The Latest Breaking News from IRS

CONFIRMED: DOJ Abandons Trump's Controversial $1.8 Billion 'Anti-Weaponization' Fund After Bipartisan Backlash

The Justice Department has officially abandoned plans to create a controversial $1.8 billion "Anti-Weaponization Fund," Acting Attorney General Todd Blanche told lawmakers Tuesday, ending weeks of political and legal turmoil surrounding one of the Trump administration's most debated initiatives.

Latin Times

Trump administration drops $1.8 billion 'weaponization' fund after Republican backlash

The Trump administration has dropped its $1.8 billion fund meant to compensate victims of government abuse. This decision followed strong opposition from Republican senators. However, an agreement preventing future audits of Donald Trump's past tax records will continue. The fund originated from a legal settlement concerning Trump's lawsuit against the…

The Economic Times

Where Have All the Good Lawyers Gone?

How did an immunity for Trump sneak into Slushfundgate?

Reason

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Trump may have dropped his ‘slush fund’ but not the agreement for tax amnesty, Blanche says

Under the terms of the deal, the IRS is ‘forever barred and precluded’ from pursuing claims against Trump, his family or his businesses

The Independent UK

Refunds Are Being Frozen Over a New IRS Identity Flag — And It’s Happening to More Filers Than Ever

Tax season used to feel like a simple countdown to a refund check landing in the bank account. That expectation now collides with a growing IRS identity flag system that halts refunds without warning. Many filers now see their refunds placed on hold while the agency runs additional identity checks.…

The Free Financial Advisor

Trump Is Reportedly Reconsidering His Politically and Legally Contentious 'Anti-Weaponization Fund'

The Justice Department signals a retreat from defending the blatantly corrupt scheme, which provoked vigorous objections from Republican lawmakers.

Reason

Estate-Tax Thresholds Are Changing—What Couples Should Review

For many married couples, estate planning feels like something reserved for the ultra-wealthy. However, changing estate-tax thresholds are forcing more middle- and upper-income households to pay attention to how their assets are structured and protected. Federal estate tax exemptions have increased dramatically over the last several years, but many experts…

Dinks Finance

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Could the New $6,000 Senior Bonus Tax Deduction Hurt Social Security?

Analysis shows that a new tax break designed to help older adults could weaken what is now a key safety net for millions of retirees.

Kiplinger

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…

The Free Financial Advisor

From crypto to golf resorts: How Trump, his allies have profited during his second term

Donald Trump entered his second term promising to focus on the economy, national interests with a 'America First' agenda. However, a recent AP report points to a growing number of business deals, financial ventures and government decisions that have benefited Trump and his allies.

The Times of India

‘Outright theft’: legal experts decry $1.8bn Trump anti-weaponization fund

Critics from both sides and legal scholars say ‘slush fund’ is scheme that will help January 6 rioters

The Guardian - US

35 judges urged action. Now a Miami judge has reopened Donald Trump’s ‘Weaponization Fund’ IRS suit

The IRS had a list of defenses for the lawsuit that the GOJ reportedly ignored.

We Got This Covered

Inside the Trump money machine: How the president and his family are cashing in on his return to the White House

Trump has consistently faced scrutiny for leveraging his presidency for personal financial advantage, a pattern that has encompassed everything from merchandise deals and crypto ventures to hosting high-dollar political and official events at his properties

The Independent UK

How Trump has used the presidency to benefit himself and his allies

President Trump's administration is reviewing a large fund proposed for supporters. This comes amid scrutiny over various financial dealings. These include lawsuits against the government and deals favoring his family's businesses. The president has also engaged in significant stock trading and crypto ventures. His properties have hosted numerous political events.…

The Economic Times

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International Business Times UK

Trump Abandons $1.8B Anti Weaponization Fund Following Fierce Republican Revolt Over Capitol Rioter Payouts

Donald Trump's $1.8 billion fund faces legal and political challenges, with the Justice Department halting the initiative amid Republican dissent and accusations of corruption.

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

Trump's $1.8 billion 'weaponization' fund put on hold after fierce opposition from Congress

President Trump's proposed $1.8 billion fund for alleged government "weaponization" victims has been halted. Republican lawmakers in Congress strongly opposed the plan. This move comes as senators returned after a break and faced an impasse with the president over border funding. The fund faced legal challenges and political uproar. Federal…

France 24

Trump reconsiders $1.8 billion ally compensation fund amid Republican backlash

US President Donald Trump was said to be reconsidering a controversial $1.8 billion compensation fund on Monday, created as part of a settlement with the IRS, amid legal challenges and growing opposition from Republicans. The Justice Department has paused implementation following a court order, raising doubts about the fund's future.

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news in one place.

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International Business Times UK

Trump Backs Down From Multi-Billion Dollar IRS Settlement Account Following Intense Congressional Rebellion

President Trump drops the £1.4 billion Anti-Weaponisation Fund following bipartisan opposition, legal challenges, and criticism from former Vice President Pence, marking a significant setback in his second term.

International Business Times UK

Federal Judge Demands a Second Look Into Trump's IRS Settlement, Saying It's 'Fraud'

A federal judge has reopened scrutiny of a proposed settlement in Donald Trump's $10 billion (£7.9 billion( IRS lawsuit after retired judges alleged misconduct and raised concerns over how the deal was reached and presented to the court.

Reason

The Art of the Deal cont'd, cont'd

Serious questions about Trump's scheme to get the government to (a) put $1.776 billion into a slush fund under his control, and (b) drop ALL tax claims the IRS has against him, are, I'm happy to report, not going away.

The Times of India

'I truly supported it': Jill Biden admits she wanted Joe Biden to pardon Hunter, feared Trump would target their family

Former first lady Jill Biden has revealed that she supported former President Joe Biden's decision to pardon their son Hunter Biden.

Reason

Trump's Corrupt 'Settlement' With the IRS Hits Two Judicial Roadblocks

One order temporarily blocks money for the president's "Anti-Weaponization Fund." The other asks whether the agreement is a fraudulent "product of collusion."

The Guardian - UK

Monday briefing: Does Trump’s $1.8bn ‘anti-weaponization fund’ signal a new era of law and disorder?

In today’s newsletter: What an unprecedented scheme reveals about an increasingly uninhibited leadership – and what it might mean for American democracy

Kiplinger

Could Vibe Coding Put Your Retirement Portfolio at Risk?

With more financial pros potentially turning to AI "agents", your private tax data — and nest egg — might be resting on a foundation of unverified code.

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