Tax Season Is Year-Round

2h ago

4 IRS Retirement Traps Costing Seniors Thousands

The Medicare Part B lifetime penalty silently destroys savings for small business employees who miss enrollment.

Saver's Credit goes unclaimed...

2h ago

Your Refund Is a Forced Loan to the IRS

A $2,400 average refund isn't a bonus—it's your money returned interest-free after a full year.

Opportunity cost: That float could earn compound...

5h ago

Tax Season Is Year-Round · May 29 Daily Digest

IRS Notice Updates

CP53E Letters: The IRS may revise its CP53E notices after taxpayer backlash over QR code confusion and ID.me friction,...

6h ago

2026 IRS Dirty Dozen: Watch for These Scams

The IRS warns taxpayers to stay alert year-round as criminals constantly evolve tactics beyond tax season.

AI-powered phone scams impersonate the...

Better Business Bureau: Stay clear of IRS dirty dozen tax scams

6h ago·

commercialappeal.com

6h ago

Bitcoin's Tax Loss Harvesting Advantage

Tax loss harvesting offsets capital gains (and up to $3,000 ordinary income) by selling assets at a loss
Bitcoin's property classification means...

6h ago

Claim the New $6,000 Senior Deduction Before It's Too Late

Many seniors are leaving $6,000 (or $12,000 for couples) on the table by missing the new Senior Bonus Deduction.

This stacks on top of your...

10h ago

June 15 Deadline: Avoid 8% IRS Penalty on Estimated Taxes

Freelancers and gig workers must pay Q2 estimated taxes by June 15 or face an 8% annualized IRS penalty plus daily interest on underpaid amounts.

-...

Quarterly estimated taxes are due in 17 days — self-employed and gig workers who underpay by June 15 get hit with an 8% IRS penalty plus daily interest

thefinancialwire.com

Quarterly estimated taxes are due in 17 days — self-employed and gig workers who underpay by June 15 get hit with an 8% IRS penalty plus daily interest

10h ago

Hidden Tax Breaks Seniors Often Miss

Seniors aged 65+ can lock in property values and slash rising tax bills through two key programs.

Senior Assessment Freeze prevents future hikes by...

1d ago

Tax Season Is Year-Round · 2026-05-28 Daily Digest

No significant updates today.

2d ago

Tax Season Is Year-Round · 2026-05-27 Daily Digest

No significant updates today.

2d ago

Average Refund Masks Cost of Overwithholding

Average 2026 refund hits $3,676, an 11.5% jump from last year.
Large refunds equal interest-free loans to the government for ~9 months, costing...

2d ago

529 Same-Year Parking Trick: State Tax Break With Risks

The same-year parking trick lets families claim a state 529 deduction or credit, then withdraw funds shortly after without using them for education....

Most states give a tax deduction for 529 contributions even if you withdraw the money the same month — a same-year parking trick that trims state tax bills

themoneyoverview.com

Most states give a tax deduction for 529 contributions even if you withdraw the money the same month — a same-year parking trick that trims state tax bills

2d ago

Two Above-the-Line Deductions Many Will Miss

Two new OBBB rules let standard-deduction filers trim taxes on charitable gifts and U.S.-built car loans.

Charitable deduction (2026+): up to...

The new “above-the-line” charitable deduction lets non-itemizers write off up to $1,000 ($2,000 for couples) starting in 2026 — without touching the standard deduction

thefinancialwire.com

The new “above-the-line” charitable deduction lets non-itemizers write off up to $1,000 ($2,000 for couples) starting in 2026 — without touching the standard deduction

2d ago

Stop 24% Backup Withholding on Mismatched TINs

How it triggers: Payers withhold 24% on 1099 interest, dividends, or gig pay when your TIN fails IRS matching.
Common triggers: Gig platforms,...

Backup withholding now hits 24% of every interest, dividend, or gig payment tied to a mismatched Social Security number — and the IRS holds the money until your next return

thefinancialwire.com

Backup withholding now hits 24% of every interest, dividend, or gig payment tied to a mismatched Social Security number — and the IRS holds the money until your next return

2d ago

$1.5B in 2022 Refunds Forfeited After Deadline

$1.5 billion in unclaimed 2022 refunds for roughly 940,000 taxpayers expired on April 15, 2026, under the three-year rule of 26 U.S. Code Section...

About 940,000 unclaimed 2022 tax refunds worth $1.5 billion just disappeared into the U.S. Treasury after the April 15 filing deadline passed

thefinancialwire.com

About 940,000 unclaimed 2022 tax refunds worth $1.5 billion just disappeared into the U.S. Treasury after the April 15 filing deadline passed

2d ago

File Now to Cut IRS Penalties by 88%

Filing your return on time—even without payment—limits penalties to the 0.5% failure-to-pay rate instead of the 5% failure-to-file rate.

On a $10k...

The IRS failure-to-file penalty compounds at 5% a month, capped at 25% — but filing on time even without a payment drops the damage to the smaller 0.5% failure-to-pay rate

thefinancialwire.com

The IRS failure-to-file penalty compounds at 5% a month, capped at 25% — but filing on time even without a payment drops the damage to the smaller 0.5% failure-to-pay rate

2d ago

3d ago

Two $6,000 Senior Tax Breaks: Bonus Deduction vs Schedule R

The new Senior Bonus Deduction (up to $6,000 single/$12,000 joint) requires Schedule 1-A and stacks atop the standard deduction, while the...

3d ago

Safe Harbor Beats the June 15 Penalty

Pay four equal quarterly installments equal to 100% of last year's tax bill (or 110% if AGI exceeded $150,000) and the IRS cannot assess the...

Pay four equal quarterly estimated taxes equal to 100% of last year’s bill and the IRS can’t penalize you — even if you owe far more come April

themoneyoverview.com

Pay four equal quarterly estimated taxes equal to 100% of last year’s bill and the IRS can’t penalize you — even if you owe far more come April

3d ago

The 9-Month IRS Deadline That Can Cost Families $75k

Missing the 9-month IRS deadline on estate and inheritance matters can cost families up to $75,000 or more in avoidable taxes. Families often overlook this rule during planning, triggering unnecessary tax bills and complicating asset transfers.

3d ago

2.8% COLA and Retiree Income Shifts for 2026

A modest 2.8% COLA delivers an average $52 monthly increase that may fall short of inflation for housing, food, and healthcare.

Tax break for...

6 Social Security Changes in 2026 That Impact Everyone

financebuzz.com

6 Social Security Changes in 2026 That Impact Everyone

3d ago

IRS CP53E/CP05 refund freezes & verification holds

Digest Calendar

Recent Posts

4 IRS Retirement Traps Costing Seniors Thousands

Your Refund Is a Forced Loan to the IRS

Tax Season Is Year-Round · May 29 Daily Digest

IRS Notice Updates

2026 IRS Dirty Dozen: Watch for These Scams

Better Business Bureau: Stay clear of IRS dirty dozen tax scams

Bitcoin's Tax Loss Harvesting Advantage

Claim the New $6,000 Senior Deduction Before It's Too Late

June 15 Deadline: Avoid 8% IRS Penalty on Estimated Taxes

Quarterly estimated taxes are due in 17 days — self-employed and gig workers who underpay by June 15 get hit with an 8% IRS penalty plus daily interest

Hidden Tax Breaks Seniors Often Miss

Tax Season Is Year-Round · 2026-05-28 Daily Digest

Tax Season Is Year-Round · 2026-05-27 Daily Digest

Average Refund Masks Cost of Overwithholding

529 Same-Year Parking Trick: State Tax Break With Risks

Most states give a tax deduction for 529 contributions even if you withdraw the money the same month — a same-year parking trick that trims state tax bills

Two Above-the-Line Deductions Many Will Miss

The new “above-the-line” charitable deduction lets non-itemizers write off up to $1,000 ($2,000 for couples) starting in 2026 — without touching the standard deduction

Stop 24% Backup Withholding on Mismatched TINs

Backup withholding now hits 24% of every interest, dividend, or gig payment tied to a mismatched Social Security number — and the IRS holds the money until your next return

$1.5B in 2022 Refunds Forfeited After Deadline

About 940,000 unclaimed 2022 tax refunds worth $1.5 billion just disappeared into the U.S. Treasury after the April 15 filing deadline passed

File Now to Cut IRS Penalties by 88%

The IRS failure-to-file penalty compounds at 5% a month, capped at 25% — but filing on time even without a payment drops the damage to the smaller 0.5% failure-to-pay rate

Two $6,000 Senior Tax Breaks: Bonus Deduction vs Schedule R

Safe Harbor Beats the June 15 Penalty

Pay four equal quarterly estimated taxes equal to 100% of last year’s bill and the IRS can’t penalize you — even if you owe far more come April

The 9-Month IRS Deadline That Can Cost Families $75k

2.8% COLA and Retiree Income Shifts for 2026

6 Social Security Changes in 2026 That Impact Everyone

Reading Activity