Victims of identity theft face “unconscionable” delays at the Internal Revenue Service, a dynamic causing headaches and financial hardship for many Americans that comes amid steep staffing cuts at the federal agency, according to a report to Congress published Wednesday by the National Taxpayer Advocate, an internal IRS watchdog. More than 500,000 victims of tax-related identity theft are currently…
The Supreme Court declined to hear Murrin v. Commissioner, leaving a Third Circuit ruling in place that significantly expands when the IRS can go back and assess unpaid taxes—even decades after a return was filed—when the person who prepared the return committed fraud. That’s the case, according to the Third Circuit, even if the taxpayer didn’t know…
The IRS has released the 2027 contribution limits for health savings accounts, or HSAs, which offer triple-tax benefits for investors. Starting in 2027, the new HSA contribution limit will be $4,500 for self-only plans, up from $4,400 in 2026, based on the latest inflation adjustments. The HSA limit for family coverage will also rise in 2027. That cap will jump to $9,000,…
If you’re trying to plump up your nest egg or stretch your retirement savings, every dollar you can keep in your pocket counts. To help with that effort, the 2026 tax season arrives with a host of changes that could cut your 2025 tax bill. Read more
