Mega Millions $1.1 billion jackpot winner could face these pitfalls

The Mega Millions jackpot grew to more than $1.6 billion on Aug. 9, 2023. Justin Sullivan | Getty Images State taxes can be hefty “None of these winners think about taxes until... Read more »

New ETF looks to profit from municipal bonds

A new ETF is trying to capture profits in the municipal funds space. BondBloxx’s Joanna Gallegos is behind the IR+M Tax-Aware Short Duration ETF (TAXX) — which launched less than a month... Read more »

Here’s what to know before using AI chatbots to file your taxes

Songsak Rohprasit | Moment | Getty Images The tax deadline is approaching and some filers are turning to chatbots powered by artificial intelligence for help with returns. But taxpayers should be wary... Read more »

Here’s the tax bill for the winning $1.128B Mega Millions ticket

Xavier Lorenzo | Moment | Getty Images There is officially one winner for the $1.128 billion Mega Millions jackpot — and the taxman will take a sizable share, experts say. A single... Read more »

Here are 3 key things to know before filing your 2023 tax return

The federal tax deadline is officially one month away for most filers — and experts say there are some key things to know this season. As of March 1, the IRS received... Read more »

Here’s how to calculate crypto taxes amid the latest bitcoin rally

Whether you’re a longtime crypto investor or recently purchased digital assets, here are some key things to know from crypto tax experts.  How to answer Form 1040 ‘digital assets’ question Cryptocurrency has... Read more »

What to Know Filing 2023 Taxes: Interest Income, Roth IRA Limits, Direct File

Americans who enjoyed capital gains from a rallying stock market or interest from high-yield savings accounts in 2023 may have a few surprises waiting for them in their tax bill. That’s emerging... Read more »

Here’s what Trump’s proposed tariffs could mean for your wallet

This combination of pictures created on February 17, 2024, shows U.S. President Joe Biden waving from the South Lawn of the White House in Washington, D.C., on June 1, 2023, and former... Read more »

Here’s who qualifies for free tax filing through the IRS this season

Artistgndphotography | E+ | Getty Images Estimated state-by-state eligibility The Treasury estimates that 19 million taxpayers may be eligible to use Direct File this season, with the following breakdown in each pilot... Read more »

The Best Countries for Expats, With Low Tax and High Quality of Life

The UK announced Wednesday that it would scrap its non-dom status, which allows people who live there but have permanent residency abroad to avoid taxes on their foreign assets for 15 years.... Read more »

Small Business Says No New Taxes to Fund Childcare

FOR IMMEDIATE RELEASE LANSING, MI (March 7, 2024) – A new survey by the National Federation of Independent Business (NFIB) of its members in Michigan shows that small business owners do not support... Read more »

Why California faces high gas prices

California is home to some of the highest gas prices in the United States, according to AAA. The national average for a gallon of regular unleaded was $3.40 as of Thursday, according... Read more »

UK Budget 2024: Will High Earners Benefit From Property Tax, Non-Dom Changes?

UK Chancellor of the Exchequer Jeremy Hunt is looking to deliver tax cuts while keeping inflation tamed. The plans, announced in the budget Wednesday, come as his party wants to attract voters... Read more »

Tax pros brace for ‘tidal wave’ of crypto tax scrutiny from IRS

Shannonstent | E+ | Getty Images As the IRS bolsters its cryptocurrency expertise, tax professionals are bracing for increased scrutiny of digital currency.  Digital assets are one of the agency’s “priority areas,”... Read more »

Millionaires reach limit for Social Security payroll taxes for 2024

Ezra Bailey | Getty Images Most Americans can expect to pay Social Security payroll taxes throughout 2024. But for top earners with gross annual wage income of $1 million, March 2 marks... Read more »

Tax evasion by wealthiest Americans tops $150 billion a year: IRS

The nation’s millionaires and billionaires are evading more than $150 billion a year in taxes, adding to growing government deficits and creating a “lack of fairness” in the tax system, according to... Read more »

IRS weighs ‘audit selection algorithm’ changes for low-income tax credit

IRS Commissioner Danny Werfel speaks at a Senate Finance Committee hearing in Washington, D.C., on April 19, 2023. Al Drago | Bloomberg | Getty Images After vowing in September to “substantially” reduce... Read more »

Bezos Unloads Another $2 Billion of Amazon Stock in Latest Sale

Jeff Bezos has unloaded another 12 million shares of Inc. valued at $2 billion, bringing the total sold in the past week to more than $6 billion. He sold the latest... Read more »

House lawmakers weigh relief for SALT ‘marriage penalty’

Violetastoimenova | E+ | Getty Images House lawmakers are weighing relief for a “marriage penalty” that impacts the federal deduction limit on state and local taxes, known as SALT. While the bill... Read more »