14 articles
Scammers are filing fake tax returns to get refunds for taxes never paid. The IRS warns victims could face a 75% penalty and owe the money back. Taxpayers can get a free Identity Protection PIN (IP PIN) from the IRS website to prevent this fraud.
A recent court ruling revealed the IRS illegally shared taxpayer data with ICE 42,695 times, raising concerns about privacy and government accountability. The analysis delves into the legal breaches, the lack of consequences, and the broader implications for the justice system.
Retirement savers can anticipate substantial increases in 401(k) contribution limits for 2026. Standard deferrals are projected to rise, with significant boosts also expected for catch-up and special 'super catch-up' contributions for older workers.
A vast majority of taxpayers, 91%, are opting for the standard deduction, highlighting a trend towards tax simplicity. Recent legislative changes have increased the standard deduction threshold, making it the most advantageous choice for most individuals, especially those early in their financial careers.
