INSANE: 15 | Rare Historical Photos

IRS Issues Correction to Updated Qualified Domestic Trust Regulations Under Section 2056A

The Internal Revenue Service has published a correcting amendment to recently finalized regulations governing Qualified Domestic Trusts (QDTs) under Internal Revenue Code Section 2056A. Published in the Federal Register on July 24, 2026, the amendment makes technical corrections to final regulations issued earlier in the month and became effective immediately…

The Free Financial Advisor · Jul 28

Hold US stocks under LRS? Here’s why you may not be able to gift them to NRI children

Indian residents cannot gift US shares purchased through the LRS route to their NRI children. The liberalised remittance scheme requires sale proceeds to be repatriated within 180 days. US stocks held under LRS may face US estate tax upon the investor's death. Indian residents can reduce this exposure by investing…

The Economic Times · Jul 28

At What Age Does Social Security Stop Being Taxed? Here’s the Truth

One of the most common questions retirees ask is, “At what age does Social Security stop being taxed?” It’s an understandable question, especially since many...

Saving Advice · Jul 26

$600bn Cash Payout vs $300bn Tariff Revenue: Donald Trump's $2,000 Cheque Plan Facing Massive Deficit

Donald Trump's much‑touted $2,000 'tariff dividend' cheques remain stuck at the proposal stage, with no law passed and no official payment plan in place.

International Business Times UK · Jul 25

Supreme Court litigator gets 6 years in prison for tax evasion case after gambling millions on poker

A prominent Supreme Court litigator has been sentenced to six years in prison for evading a multimillion-dollar IRS tax debt and engaging in mortgage fraud in a case that cast a spotlight on his secretive lifestyle as a high-stakes poker player

The Independent UK · Jul 24

Ask the Tax Editor, July 24: Taxation of I Bonds

In this week's Ask the Editor Q&A, Joy Taylor answers readers' questions about the taxation of I bonds in various situations.

Kiplinger · Jul 24

IRS Replaces First Time Abate Program With Automatic Penalty Relief for Taxpayers With Clean Compliance History

The Internal Revenue Service is replacing its long-standing First Time Abate (FTA) program with a new system called Automatic Exemption from Penalty (AEP), making it easier for taxpayers with a strong compliance history to receive penalty relief. Announced on July 8, the new process is designed to automatically remove certain…

The Free Financial Advisor · Jul 24

Tennessee farmer says IRS mistakenly sent him $20k, then allegedly started threatening to seize his farm

“I've tried the president, governor, mayor."

We Got This Covered · Jul 24

Trump’s staff turnover is more than double his first term — and it’s only two years in

More officials are leaving in Trump’s second term and fewer nominations are being made to the Senate, according to recent data

The Independent UK · Jul 23

Tax Breaks Parents May Miss When Paying for Child Care

Finding affordable child care is one of the biggest financial challenges many families face, with annual daycare costs exceeding $10,000 in many parts of the country. While most parents know about the Child Tax Credit, many overlook tax benefits tied directly to child care expenses. Missing these opportunities could leave…

Kids Ain't Cheap · Jul 23