EXPLAINED: Irs - The Real Truth

IRS Workers Snooped Through Private Tax Records, and 22 Were Not Fired, Watchdog Finds

TIGTA found 86 suspicious accesses to 30 taxpayers' records by 52 IRS employees, plus notification failures affecting 276 taxpayers.

International Business Times UK · 14h ago

New $1,700 Federal Scholarship Tax Credit Starts in 2027 — IRS Proposes Rules for Who Can Claim It

A new federal tax credit could be worth up to $1,700 for taxpayers who donate to qualifying scholarship organizations beginning in 2027, and married couples filing jointly could potentially claim twice that amount.

The Free Financial Advisor · 18h ago

IRS Wraps Up 2026 Tax Forums — Here’s What Tax Pros Were Told About the 2027 Filing Season

Nearly 13,000 tax professionals attended IRS events across five U.S. cities this year, getting an early look at issues that could affect taxpayers when the 2027 filing season arrives.

The Free Financial Advisor · 19h ago

You’re 65 With a Paid-Off House and $750,000 — What Could You Safely Spend Each Month?

At 65, owning a paid-off house and holding $750,000 in investments gives retirement a very different starting point. Housing no longer includes a mortgage payment, but property taxes, insurance, repairs, utilities, and maintenance still consume cash. The bigger question involves how much of that $750,000 can support monthly spending without…

The Free Financial Advisor · Oct 4

Warren Buffett's first tax bill at age 14 was $7. Now Berkshire Hathaway's is almost $27 billion—and he still says the rich don't pay enough

That’s a far cry from the $26.8 billion Buffett said his company, Berkshire Hathaway, paid in 2024 taxes.

Fortune · Oct 4

Before Taking a 401(k) Hardship Withdrawal, Check These 7 Alternatives First

A 401(k) hardship withdrawal can feel like the cleanest solution to an ugly money problem. The account already has cash, the expense feels urgent, and the paperwork may look easier than finding another source.

The Free Financial Advisor · Oct 4

Here’s The Real Financial Cost of Day Trading

Day trading can make a brokerage account look busy without making it more valuable. The financial cost goes far beyond the occasional losing trade. Frequent buying and selling can create transaction costs, tax complications, margin exposure, technology expenses, and a time commitment that rarely appears on an account statement.

The Free Financial Advisor · Oct 3

Sell your stocks too soon and you may pay more: How long you hold an asset changes your 2026 Capital Gains Tax, and timing matters here

The baseline for tax planning in 2026 relies on shifting retirement contribution limits. The IRS adjusted these thresholds, altering the calculus for wage earners trying to suppress their taxable income. A traditional 401(k) or 403(b) now absorbs up to $24,500 in pre-tax earnings. Individual Retirement Accounts cap at $7,500.

The Economic Times · Oct 3

A Major 401(k) Tax Change Takes Effect in 2026 — Higher Earners Over 50 Need to Check Their Contributions

For some workers over 50, 2026 changes the tax treatment of 401(k) catch-up contributions. If prior-year wages from the employer sponsoring the plan exceeded $150,000, catch-up contributions generally must go into the plan’s Roth side rather than the traditional pre-tax side.

The Free Financial Advisor · Oct 3

‘Elon is my prophet’: how Musk’s Doge team took a wrecking ball to Washington

When the new ‘department of government efficiency’ sent young techies to disrupt federal agencies, not everyone complied. Here’s what happened when one worker fought to protect immigrant data

The Guardian - UK · Oct 3