IRS

Days before the 2026 tax filing season opens, Internal Revenue Service chief executive officer Frank Bisignano announced a sweeping leadership shake-up Tuesday, saying the moves are meant to stabilize an agency facing deep staff cuts and complex new tax rules. New Leadership Team Targets Tax Season...

Americans are poised to receive the largest tax refunds in history, according to forecasts by the Secretary of the Treasury and acting IRS Commissioner Scott Bessent.  According to today’s report, Bessent anticipates households could see refunds increase by $1,000 to $2,000.  How...

Sen. Elizabeth Warren (D-Mass.) is warning that President Donald Trump's "attacks on the IRS" could spell trouble for millions of Americans heading into the next tax filing season, as Democrats question whether the agency can keep up after deep staffing and leadership shake-ups. Warren Says IRS...

Sen. Elizabeth Warren (D-Mass.) announced that her bipartisan IRS Math Act has officially been signed into law, aimed at simplifying tax filing and boosting transparency for American taxpayers. A ‘Math Mistake’ Shouldn’t Cost You A Fortune On Thursday, in a post on X,...

Sen. Elizabeth Warren (D-Mass.) on Tuesday blasted expected price hikes from tax-prep giants TurboTax and H&R Block, blaming Trump administration policies that killed the IRS's free Direct File system and layered on new Republican tax breaks that make filing more complicated for millions of...

Former IRS commissioners warn the agency could stumble into the next filing season if Congress lets funding lapse again and staffing losses persist. Shutdown Cliff Looms As Filing Season Starts The IRS just emerged from the longest shutdown of 2025, but lawmakers funded the government only through...

Losing a spouse can deliver a second blow after grief, which is a higher tax bill. Financial planners warn that the so-called "survivor's penalty" can sharply raise lifetime taxes if couples don't plan. How Filing Status Change Drives Higher Taxes When one spouse dies, the survivor often keeps much...

U.S. taxpayers face a very different filing season in 2026, and financial planners say the smartest move is to start adjusting before this year ends. Advisers Urge Early Moves Before Rules Reset "Taking action before the end of this year can be a huge benefit to your financial health in 2026," said...

Homeowners who sell at a loss usually get no tax break, even as falling prices and higher borrowing costs push more sales into the red, tax experts warn. Primary Residences Offer No Cushion On Losses The IRS treats a primary residence as personal-use property, not an investment, so you generally...

IRS Direct File, the government's free online tax-filing tool launched under the Biden administration, won't be offered next year, even after 296,531 taxpayers used it during the 2025 season, the Trump administration confirmed this week. Republicans Call Direct File Wasteful, Prefer Alternatives...

The Internal Revenue Service on Thursday released inflation adjustments for dozens of tax provisions for 2026, alongside changes required by the One Big Beautiful Bill Act, lifting the standard deduction and shifting income thresholds that determine tax bills. According to the IRS...

The Internal Revenue Service violated its own policies when it fired thousands of probationary employees earlier this year at the direction of the Trump administration, the Treasury Department's inspector general said in a report released last week. IRS Violated Its Termination Policies, Says...

The federal government has confirmed that it will not be issuing new stimulus checks this summer, debunking circulating online rumors. What Happened: On Friday, the internet was abuzz with rumors that the U.S. government was planning to distribute stimulus checks to certain income brackets in...

A House Appropriations subcommittee has passed legislation that would allocate $9.5 billion to the IRS for fiscal year 2026, marking a decrease of more than 20% compared to the agency's current $12.3 billion funding.  The measure, approved by a 9-6 party-line vote in the Financial Services and...