Taxes & Policy Archives - Page 6 of 21

Woman looking at bill while using laptop

The new above-the-line charitable deduction lets non-itemizers write off up to $1,000 single / $2,000 joint in cash donations starting with the 2026 tax year — without touching the standard deduction

David Keller6 days ago6 days ago013 mins

For the past eight years, roughly nine out of ten federal tax filers have gotten exactly zero tax benefit from their charitable donations. The reason was simple math: the 2017 Tax Cuts and Jobs Act nearly doubled the standard deduction, which made itemizing pointless for most households. You could write a $500 check to your…

Filers earning over $1 million face an IRS audit rate of about 1 in 38 in 2026 — versus 1 in 313 for households under $200,000, the lowest audit risk on record for middle-income earners

David Keller6 days ago6 days ago013 mins

A wage earner in Dallas who reports $85,000 on a W-2 and claims the standard deduction has, statistically, almost no chance of sitting across from an IRS examiner this year. A hedge-fund partner in Greenwich pulling seven figures through a web of K-1s faces odds roughly eight times higher. That contrast, already stark, is on…

1040 tax form on a wooden table Tax time Financial concept

The IRS may owe you a refund for penalties paid between 2020 and 2023 — you have 42 days left before the July 10 deadline

Warren Cohen7 days ago7 days ago012 mins

Millions of Americans paid late-filing or late-payment penalties to the IRS on returns from tax years 2019 through 2022, often because the agency itself stopped sending collection notices during the pandemic. Now the federal government may owe that money back. But the window to claim it is closing fast: after July 10, 2026, the statute…

Tax form 1040 on dark wooden background financial document

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

Warren Cohen7 days ago7 days ago016 mins

Roughly 27 million Americans file federal tax returns reporting self-employment income each year, and a significant share of them owe the IRS a payment on June 15, 2026. That is the deadline for second-quarter estimated taxes, and for freelancers, rideshare drivers, and independent contractors who come up short, the penalty is steep: an annualized rate…

The IRS has reissued tens of thousands of stolen paper refund checks this filing season — filers without direct deposit wait 12 weeks after a theft for a replacement

David Keller1 week ago1 week ago012 mins

A tax refund of $3,000 can cover two months of rent, a semester of child care, or a car repair that keeps someone employed. For the tens of thousands of filers whose paper refund checks are stolen from mailboxes every filing season, that money doesn’t just vanish once. It vanishes twice: first when a thief…

Family together is watching planes take off and landing next to airport

The 2026 federal poverty level just climbed to $15,650 for a single person and $32,150 for a family of four — resetting eligibility for Medicaid, SNAP, Lifeline, and the ACA subsidy cliff

Warren Cohen1 week ago1 week ago018 mins

A single adult in Texas earning $22,000 a year just crossed onto the wrong side of a line that determines whether the federal government helps pay for health insurance, groceries, and internet service. That line moved in early 2026, when the Department of Health and Human Services published updated federal poverty guidelines setting the threshold…

Bringing ideas into focus Shot of a young designers at work in an office

The IRS just confirmed that borrowers whose student loans were forgiven under public service programs owe zero federal income tax — but state tax bills still apply in 9 states

Warren Cohen1 week ago1 week ago012 mins

A borrower who spent a decade teaching in North Carolina public schools, making 120 qualifying payments to earn Public Service Loan Forgiveness, will owe the IRS nothing when $50,000 in student debt disappears from her balance. But when she files her state return this year, that same $50,000 could show up as taxable income, generating…

United States 1040 tax form individual income tax return with refund check and US dollar bills

The IRS may owe you a refund for penalties paid between 2020 and 2023 — you have 44 days left before the July 10 deadline

Warren Cohen1 week ago1 week ago012 mins

Millions of Americans paid late-payment penalties on their federal taxes between 2020 and 2023. A federal court ruling and a new law now say many of those charges were wrong, and the IRS may owe that money back. But there is a hard deadline to claim it: July 10, 2026. After that date, the refund…

Close up hand of professional accountant review tax paperwork

Quarterly estimated taxes are due in 19 days — self-employed and gig workers who underpay by June 15 get hit with an 8% IRS penalty plus daily interest

David Keller1 week ago1 week ago014 mins

The IRS will not send you a reminder, and there is no grace period. On June 15, 2026, the second quarterly estimated tax payment for the year comes due. Every self-employed worker, freelancer, and gig-platform earner who falls short will owe a penalty on the unpaid balance, plus interest that compounds daily until the money…

That “tax refund” text from the IRS is a scam — the real IRS never sends refund notices by text, email, or social media; forward phishing texts to 7726

David Keller1 week ago1 week ago011 mins

Your phone buzzes: “IRS Notice: Your tax refund of $3,284.00 is pending. Verify your identity to receive payment.” A blue link sits right below. It looks official. It is completely fake. The IRS has never sent refund notifications by text message, and the agency has stated explicitly that it never will. Every text, email, or…

Category: Taxes & Policy

The new above-the-line charitable deduction lets non-itemizers write off up to $1,000 single / $2,000 joint in cash donations starting with the 2026 tax year — without touching the standard deduction

Filers earning over $1 million face an IRS audit rate of about 1 in 38 in 2026 — versus 1 in 313 for households under $200,000, the lowest audit risk on record for middle-income earners

The IRS may owe you a refund for penalties paid between 2020 and 2023 — you have 42 days left before the July 10 deadline

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

The IRS has reissued tens of thousands of stolen paper refund checks this filing season — filers without direct deposit wait 12 weeks after a theft for a replacement

The 2026 federal poverty level just climbed to $15,650 for a single person and $32,150 for a family of four — resetting eligibility for Medicaid, SNAP, Lifeline, and the ACA subsidy cliff

The IRS just confirmed that borrowers whose student loans were forgiven under public service programs owe zero federal income tax — but state tax bills still apply in 9 states

The IRS may owe you a refund for penalties paid between 2020 and 2023 — you have 44 days left before the July 10 deadline

Quarterly estimated taxes are due in 19 days — self-employed and gig workers who underpay by June 15 get hit with an 8% IRS penalty plus daily interest

That “tax refund” text from the IRS is a scam — the real IRS never sends refund notices by text, email, or social media; forward phishing texts to 7726

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