ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money, Sunday tax edition. Between now and April 15, we'll be briefing some of our most popular stories about Tax Season 2025. |
Today, we'll talk about the new Trump administration, the Department of Government Efficiency (DOGE), and their impact on tax season. |
Do IRS cuts mean refund delays? |
File early! We've all heard tax accountants say that during tax season, but this year, there may be new urgency in the advice, Medora Lee reports. |
The IRS is facing a double whammy of a hiring freeze and the possibility of losing thousands of employees as part of President Donald Trump's aggressive attempt to downsize the federal government. |
An IRS labor shortage in the middle of tax season could be devastating for taxpayers who want fast refund checks or need assistance, some accountants said. |
Did Elon Musk 'delete' IRS Direct File? |
In theory, taxpayers have more options than ever to prepare and file a tax return at no cost. |
Or maybe not. The most noteworthy new program for free tax preparation, IRS Direct File, came under fire from Elon Musk, the billionaire Trump advisor who oversees DOGE. Musk tweeted in February that the service had been "deleted." Democrats and Republicans in Congress have been battling over its future. |
The IRS offered no official comment on Musk's tweet but noted that the program's website was still up, although an X account for an associated IRS agency was down. The big question now is whether taxpayers will still entrust their returns to the embattled service. |
Will DOGE delete my tax data? |
If you follow the news, you've probably read about DOGE and its incursions into the seemingly bottomless trove of federal data. |
Elon Musk's cost-cutting campaign has stoked fears about the data itself: that sensitive records might be mishandled, copied, leaked or lost. The concurrent mass layoffs of government workers potentially leave fewer trained hands available to safeguard the records. Thankfully, none of the worst-case scenarios seem to have played out with America's data. |
📰 More stories you shouldn't miss 📰 |
Between now and April 15, The Daily Money will deliver weekly summaries of news, trends and all you need to know about Tax Season 2025. |
Daniel de Visé covers personal finance for USA Today. | | | | Trump may target IRS next for job cuts. CPAs warn Americans to file early before the cuts to avoid refund delays or long help lines. | | | | This should be a banner year for taxpayers seeking free tax-preparation. But one key IRS program is under fire. | | | | Even if none of your data gets mislaid, copied or hacked, it's a good idea to store copies of some key federal records for safekeeping. | | | | Social Security Fariness Act payments are coming soon to millions of Americans. But that boost could also raise their taxes. What to know. | | | | The bracket you fall into determines what percentage of your benefits will be subject to ordinary income tax. | | | | The House plan paves the way for $4.5 trillion worth of tax cuts, but it's not yet clear if that will include Trump's proposal to end taxes on tips. | | | | By creating an online account, you can avoid the need to call the IRS for all sorts of questions. And you can make a variety of payments online. | | | | Death can be a tax-triggering event. And there are two you should be aware of: the estate tax and inheritance tax. | | | | Sure, the IRS can mail your refund as a paper check, but direct deposit is faster and safer, the IRS says. Here's how it works. | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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