Kelly Phillips Erb
Tax and Law Writer / Senior Writer at Forbes
I share #tax and #law stories for @Forbes. Lawyer, writer, proud mom. Happiest with #coffee ☕ and my kids. Free tax newsletter signup at the link below.
Articles
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1 week ago |
forbes.com | Kelly Phillips Erb
Ready to file your tax return? Nobody likes writing a big check on Tax Day, but there is some good news—April 15 also means specials, freebies, and deals. After you pop your return (or your extension) in the mail, kick back and take advantage of some promos and specials—everything from travel deals to discounted meals and cocktails. More deals will pop up, so check back (especially closer to lunch and again at happy hour on Tax Day).
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1 week ago |
forbes.com | Kelly Phillips Erb
The big news this week was the stock market. U.S. stocks tumbled as traders grappled with the consequences of President Donald Trump's tariffs. The S&P 500—a stock market index tracking the stock performance of 500 leading companies in the U.S.—which hit a record high on February 19, dropped quickly on Tuesday, the second-fastest such drop in history (lagging only behind the drop due to Covid). Stocks powered back after Trump announced a 90-day reprieve on most tariffs but dropped again.
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1 week ago |
forbes.com | Kelly Phillips Erb
IRS numbers from the tenth week of the tax filing season—the week ending April 4, 2025—suggest that taxpayers are finally ready to file their tax returns. The number of tax returns received dipped again, a trend that hasn’t changed since the season opened on January 27, 2025, but the gap is narrowing. Filing and Processing DipsThe most recent tax season filing data from IRS shows that the agency still hasn’t received as many tax returns this year as last year.
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1 week ago |
forbes.com | Kelly Phillips Erb
With just a few days before Tax Day, cracks are showing at the IRS. Millions of taxpayers are expected to file their federal income tax returns by the end of the day on April 15, 2025, with millions more expected to file for an extension. It's not the ideal time for mistakes to appear on the IRS website, but that's precisely what is happening. Potentially confusing errors are popping up on the site, including one that impacts taxpayers filing for an extension.
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1 week ago |
forbes.com | Kelly Phillips Erb
With the 2025 regular tax season deadline just days away, the IRS is already bracing for more cuts in its workforce. Thousands of agency employees are expected to receive pink slips in mid-May, about a month after Tax Day, April 15. Losses So FarEarlier this year, the IRS fired approximately 7,000 probationary employees in response to an executive order signed by President Trump on February 11, 2025.
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A flurry of tax-related bills focused on tax administration (ranging from deadline clarifications in disasters to changes to IRS notices) recently passed the House and have moved to the Senate. Here’s what to know about all five bills. https://t.co/rIwV6mEpEr
Do you have tax-related questions? I am a Forbes writer covering taxes and the IRS. I’m also a tax attorney. Ask me anything! AMA Tax Reddit today at 12pm EDT. https://t.co/lm9FurcKwA
An IRS contractor leaked tax info on Donald Trump, Elon Musk, Warren Buffett, Jeff Bezos and others. Now, leak victim David MacNeil wants to hold Littlejohn’s ex-employer, consultant Booz Allen, responsible. https://t.co/ekTH5XLd0w