IRS reveals major updates for tax filers because of the significant new legislation.
The One Big Beautiful Bill Act removes certain tips from taxation and exempts overtime pay, but when you file your taxes in 2026, you’ll need to follow the revised IRS guidelines. The IRS has indicated that they will provide new guidance and updated forms for the 2026 tax year regarding how overtime pay should be […]
Billy Long Exits as IRS Commissioner Just Weeks After Being Sworn In
Just a couple of months after taking office, Billy Long is no longer the IRS commissioner. His departure, first reported by the New York Times, has since been confirmed by the White House. Leadership Changes Long’s nomination by President Donald Trump was announced in December 2024; however, Danny Werfel held the commissioner position until early […]
Trump Dismisses IRS Commissioner, Appoints Bessent as Interim Leader
A senior official from the White House has reported that President Donald Trump has removed IRS Commissioner Long from his position, just under two months into his tenure. Officials who spoke on the condition of anonymity have not disclosed the reasons behind Long’s dismissal or specified when he will officially leave the agency. The president […]
Holly Paz placed on leave as lawmakers reference similarities to IRS scandal from the Obama administration
A former deputy to Lois Lerner, who led the IRS division accused of targeting conservative organizations during the Obama administration, has been put on leave after expressing concerns about the politicization of a new sub-department she is managing. Back in 2013, Lerner faced Congress after it was discovered that her division had improperly scrutinized tax […]
IRS: A Major New Bill Offers Tax Deductions for Employed Americans and Seniors
Internal Revenue Agency WASHINGTON, D.C. – A new provision has been introduced as part of a significant bill that’s set to take effect on July 4, 2025, under Public Law 119-21. “There is no tax on tips.” New Deduction: From 2025 to 2028, employees and self-employed individuals can deduct eligible tips received in their jobs […]
IRS leader expresses indifference towards Direct File, announces intention to terminate free filing program.
IRS Ends Direct File Program The Internal Revenue Service, led by Commissioner Bill Long, has decided to discontinue its direct file program following a limited pilot and a full filing season. This move is part of legislation passed under President Donald Trump’s substantial spending and policy bill, which aims to fund various investigations and will […]
State lawmakers urge the IRS to investigate nonprofit groups supporting defiance of Trump and federal immigration regulations.
Two Republicans from New York are calling for the IRS to investigate four nonprofit organizations involved in legal and immigration advocacy. They claim these groups have received taxpayer money while not doing enough to combat illegal immigration during the Trump presidency. Nicole Malliotakis from Staten Island and Claudia Tenney from Watertown raised concerns about the […]
IRS to update its long-standing tax technology system that’s being closely examined
IRS Aims to Upgrade Aging IT Systems The IRS is on a mission to modernize IT systems that have been in place for more than 50 years—crucial for every tax season. Internal documents sourced by the Federal News Network indicate that officials are focusing on the future of the Integrated Data Retrieval System (IDRS), a […]
Significant IRS Updates Expected for Business Tax Audits in 2025
IRS Announces Changes to Corporate Tax Audits The Internal Revenue Service (IRS) has unveiled new guidance aimed at significantly reducing the time corporate taxpayers spend during audits. This initiative, revealed on Friday, is intended to make the audit experience more collaborative and efficient. The updated interim guidance will be in effect from 2025 through 2026, […]
Her husband skipped out on $82,000 in taxes, and now the IRS intends to seize their home. She’s divorcing him, yet still wants to help him.
Montana Woman’s Tax Troubles Reveal Marital Issues A woman from Montana shared her experience on the “Ramsey Show,” expressing her shock and frustration after discovering her husband hadn’t paid their tax bill of $82,000. As a nurse, she had maintained a steady career, even while pursuing real estate full-time. In 2021, they earned a substantial […]