https://www.forbes.com/sites/kellyphillipserb/ en-us https://secure.gravatar.com/avatar/e8bc935b76c1deaa34ea856ea8a1f96f?s=400&d=mm&r=g https://www.forbes.com/sites/kellyphillipserb/ Kelly Phillips Erb's stories. Copyright 2026 Forbes Media LLC https://www.forbes.com/sites/kellyphillipserb/2026/07/29/tax-court-pushes-back-on-some-kwong-related-covid-penalty-claims/ A recent U.S. Tax Court order suggests it could significantly limit taxpayers’ ability to recover penalties and interest assessed during the COVID-19 pandemic. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a69eff6658caaf8f435b427 Wed, 29 Jul 2026 08:41:32 -0400 2026-07-29T08:41:43-04:00 A recent U.S. Tax Court order suggests it could significantly limit taxpayers’ ability to recover penalties and interest assessed during the COVID-19 pandemic. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Small Business /small-business Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/tax-breaks/2026/07/25/tax-breaks-the-trust-the-tax-process-edition/ Plus: Caring for parents, taxing billionaires, buy-sell planning for business owners, LeBron’s move to Philly, tax trivia, and more. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a63e88f8bde2f3b6f094db1 Sat, 25 Jul 2026 10:00:00 -0400 2026-07-25T19:00:16-04:00 Plus: Caring for parents, taxing billionaires, buy-sell planning for business owners, LeBron’s move to Philly, tax trivia, and more. Getty Images Newsletters /newsletters-old Newsletters /newsletters-old Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Retirement /retirement Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/07/24/the-safest-states-for-retirement-and-the-tax-risk-most-rankings-miss/ When thinking about where to retire, most seniors don’t think about fraud risks. But fraud is a growing threat to retirement security. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a6252f35d8873c3afbcdac2 Fri, 24 Jul 2026 14:58:30 -0400 2026-07-24T14:58:42-04:00 When thinking about where to retire, most seniors don’t think about fraud risks. But fraud is a growing threat to retirement security. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Retirement /retirement Business /business Policy /policy money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/23/congressional-republicans-reject-stiffer-penalties-for-meddling-in-irs-audits/ The proposal targeted violations of section 7217, which bars the president and other senior officials from directing audits or investigations of particular taxpayers. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a622e93e8a7ae3f2f2ec858 Thu, 23 Jul 2026 16:59:49 -0400 2026-07-23T17:00:03-04:00 The proposal targeted violations of section 7217, which bars the president and other senior officials from directing audits or investigations of particular taxpayers. CQ-Roll Call, Inc via Getty Images Taxes /taxes Money /money Taxes /taxes money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/23/as-ive-seen-caring-for-kids-and-aging-parents-costs-more-than-money/ Members of the sandwich generation report it can consume hours, while limiting career choices and retirement savings. Tax breaks may cover only a fraction of the cost. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a623e54e8a7ae3f2f2ec863 Thu, 23 Jul 2026 16:37:51 -0400 2026-07-23T16:38:00-04:00 Members of the sandwich generation report it can consume hours, while limiting career choices and retirement savings. Tax breaks may cover only a fraction of the cost. getty Taxes /taxes Money /money Taxes /taxes Leadership /leadership ForbesWomen /forbeswomen Business /business Policy /policy Careers /careers Personal Finance /personal-finance money taxes premium https://www.forbes.com/sites/tax-breaks/2026/07/18/tax-breaks-the-old-tax-ideas-are-new-again-edition/ Plus: IRS releases midyear mileage rates, heat wave-related expenses, taxing artificial intelligence, all about tax abatement, tax trivia, and more. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a5aaa64571e1359ca3c7e0a Sat, 18 Jul 2026 10:00:00 -0400 2026-07-18T10:00:00-04:00 Plus: IRS releases midyear mileage rates, heat wave-related expenses, taxing artificial intelligence, all about tax abatement, tax trivia, and more. getty Newsletters /newsletters-old Newsletters /newsletters-old Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/07/17/watchdog-finds-serious-gaps-in-irs-contractors-taxpayer-data-security/ The TIGTA findings include 1,375 unauthorized entries into restricted areas, unpatched system vulnerabilities, and failures to follow IRS security requirements. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a5a67c40a7ec96e17cf1dc5 Fri, 17 Jul 2026 14:11:54 -0400 2026-07-17T14:14:40-04:00 The TIGTA findings include 1,375 unauthorized entries into restricted areas, unpatched system vulnerabilities, and failures to follow IRS security requirements. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/15/top-treasury-tax-officials-departure-deepens-leadership-crisis-at-irs/ Ken Kies’s expected departure would deepen the leadership gap at the IRS, leaving both Senate-confirmed posts—commissioner and chief counsel—without confirmed officials. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a5789caf74e36e8e0b72a89 Wed, 15 Jul 2026 09:40:53 -0400 2026-07-15T10:19:27-04:00 Ken Kies’s expected departure would deepen the leadership gap at the IRS, leaving both Senate-confirmed posts—commissioner and chief counsel—without confirmed officials. © 2025 Bloomberg Finance LP Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/13/irs-announces-increase-in-standard-mileage-rates-for-the-second-half-of-2026/ Higher fuel prices prompted the IRS to raise the business, medical, and qualified moving rates for mileage on or after July 1, 2026. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a559fffce2a76401bc1bdc4 Mon, 13 Jul 2026 23:21:14 -0400 2026-07-14T08:31:19-04:00 Higher fuel prices prompted the IRS to raise the business, medical, and qualified moving rates for mileage on or after July 1, 2026. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Small Business /small-business Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/tax-breaks/2026/07/11/tax-breaks-the-penalties-postage-and-paperwork-edition/ Plus: Red cards and tax deductions, busting a TikTok tax myth, gift tax returns and Trump accounts, deferred compensation, sales tax zappers, tax trivia and more. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a516fece178de046017a5d9 Sat, 11 Jul 2026 10:00:00 -0400 2026-07-11T10:11:12-04:00 Plus: Red cards and tax deductions, busting a TikTok tax myth, gift tax returns and Trump accounts, deferred compensation, sales tax zappers, tax trivia and more. getty Newsletters /newsletters-old Newsletters /newsletters-old Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/07/09/scammers-arent-just-targeting-taxpayers-theyre-targeting-tax-pros/ The IRS Security Summit campaign warns tax pros about fake IRS messages, social media tax myths, new-client phishing schemes, and attempts to steal ID numbers. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a50484e46c0bcc8aad0f213 Thu, 09 Jul 2026 21:46:00 -0400 2026-07-09T21:46:18-04:00 The IRS Security Summit campaign warns tax pros about fake IRS messages, social media tax myths, new-client phishing schemes, and attempts to steal ID numbers. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/08/irs-announces-automatic-penalty-relief-for-eligible-taxpayers/ The new process will replace First Time Abate and allow the IRS to provide certain penalty relief during return processing without requiring taxpayers to ask for it. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a4eb55d4dfd95320dc53c10 Wed, 08 Jul 2026 16:59:22 -0400 2026-07-08T20:52:59-04:00 The new process will replace First Time Abate and allow the IRS to provide certain penalty relief during return processing without requiring taxpayers to ask for it. getty Taxes /taxes Money /money Taxes /taxes Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/07/irs-opens-online-portal-for-kwong-refund-claims-ahead-of-friday-deadline/ The IRS has added an online filing option for some taxpayers seeking refunds tied to the recent Kwong court decision, but the window to act is short. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a4db6fa86ca6b431159b6c0 Tue, 07 Jul 2026 23:03:42 -0400 2026-07-08T14:15:37-04:00 The IRS has added an online filing option for some taxpayers seeking refunds tied to the recent Kwong court decision, but the window to act is short. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/06/can-a-world-cup-red-card-cost-a-player-more-than-a-match/ US Men’s Team player Folarin Balogun avoided a suspension, but red cards can sometimes lead to fines or other consequences. Here’s where soccer meets the tax code. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a4bda08901b7a699992ae3c Mon, 06 Jul 2026 13:32:48 -0400 2026-07-08T15:46:56-04:00 US Men’s Team player Folarin Balogun avoided a suspension, but red cards can sometimes lead to fines or other consequences. Here’s where soccer meets the tax code. Getty Images Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy SportsMoney /sportsmoney Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/03/america-at-250-the-tax-fight-that-helped-launch-a-nation/ The Declaration of Independence is remembered as a statement of liberty, but it was also a complaint about power, representation, and taxes imposed without consent. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a47cc8dd0fca95c0fc96321 Fri, 03 Jul 2026 11:58:01 -0400 2026-07-03T11:58:19-04:00 The Declaration of Independence is remembered as a statement of liberty, but it was also a complaint about power, representation, and taxes imposed without consent. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/07/01/what-bobby-bonilla-day-can-teach-us-about-deferred-compensation/ Bonilla’s annual Mets payday is a reminder that details matter. Deferred payments do not make tax disappear, but they can change when income is taxed. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a454096d1ad585d17a64828 Wed, 01 Jul 2026 13:25:46 -0400 2026-07-01T13:25:55-04:00 Bonilla’s annual Mets payday is a reminder that details matter. Deferred payments do not make tax disappear, but they can change when income is taxed. Getty Images Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business SportsMoney /sportsmoney Wealth Management /wealth-management Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/06/30/must-trump-account-donors-file-gift-tax-returns-heres-the-irs-answer/ With contributions set to begin July 4, new IRS guidance gives qualifying individual donors a path to avoid filing a gift tax return. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a43e8c215cb0b769f6464fb Tue, 30 Jun 2026 14:41:57 -0400 2026-06-30T14:42:15-04:00 With contributions set to begin July 4, new IRS guidance gives qualifying individual donors a path to avoid filing a gift tax return. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Wealth Management /wealth-management Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/tax-breaks/2026/06/27/tax-breaks-the-whats-fair-in-tax-and-what-happens-next-edition/ Plus: It’s Supreme Court opinion season, more on claiming a parent as a dependent, Social Security solvency, state tax credits, taxes from A to Z, tax trivia and more. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a3efe0bbd4cf9b3a7e95d4b Sat, 27 Jun 2026 10:00:00 -0400 2026-06-27T10:00:00-04:00 Plus: It’s Supreme Court opinion season, more on claiming a parent as a dependent, Social Security solvency, state tax credits, taxes from A to Z, tax trivia and more. getty Newsletters /newsletters-old Newsletters /newsletters-old Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/06/25/irs-reminds-tax-pros-ai-should-not-replace-human-judgment/ In new guidance focused on responsible artificial intelligence (AI) use in tax practice, the IRS reminds practitioners that AI does not replace professional judgment. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a3deb498ecd25ad5fd0323a Thu, 25 Jun 2026 23:46:15 -0400 2026-06-25T23:46:23-04:00 In new guidance focused on responsible artificial intelligence (AI) use in tax practice, the IRS reminds practitioners that AI does not replace professional judgment. getty Taxes /taxes Money /money Taxes /taxes Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/06/25/supreme-court-leaves-irs-free-to-chase-taxpayers-forever-over-preparer-fraud/ The decision means the time to assess unpaid taxes can remain open when the tax preparer committed fraud—even if the taxpayer didn’t know about it. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a3ddf45a9f7151f0354cb11 Thu, 25 Jun 2026 22:49:31 -0400 2026-07-28T19:07:24-04:00 The decision means the time to assess unpaid taxes can remain open when the tax preparer committed fraud—even if the taxpayer didn’t know about it. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/06/24/chatbots-were-supposed-to-help-taxpayers-but-irs-cant-prove-they-work/ IRS chatbots were supposed to reduce phone pressures. But the Treasury Inspector General for Tax Administration, or TIGTA, found the IRS cannot prove they work. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a3bdd6326e7523f8b3ed990 Wed, 24 Jun 2026 11:38:17 -0400 2026-06-24T11:38:33-04:00 IRS chatbots were supposed to reduce phone pressures. But the Treasury Inspector General for Tax Administration, or TIGTA, found the IRS cannot prove they work. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/06/24/supreme-court-rejects-fair-market-value-in-tax-sale-case-but-keeps-challenge-alive/ The Pung family got a mixed result. The Supreme Court ruled the auction price is the baseline for compensation but sent the fairness question back to the lower court. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a3bef5adffe600770f914a1 Wed, 24 Jun 2026 11:37:55 -0400 2026-06-24T11:38:03-04:00 The Pung family got a mixed result. The Supreme Court ruled the auction price is the baseline for compensation but sent the fairness question back to the lower court. Pacific Legal Foundation - Jason Dixson Photography 2026 Taxes /taxes Money /money Taxes /taxes Real Estate /real-estate Residential Real Estate /residential-real-estate Business /business Policy /policy Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/tax-breaks/2026/06/20/tax-breaks-the-betting-on-tech-and-modernization-edition/ Plus: AI renews interest in universal basic income, claiming a parent as a dependent, ERC claims, self-employment tax, taxes from A to Z, tax trivia and more. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a3549932bc8d840bde1398b Sat, 20 Jun 2026 10:00:00 -0400 2026-06-21T13:24:01-04:00 Plus: AI renews interest in universal basic income, claiming a parent as a dependent, ERC claims, self-employment tax, taxes from A to Z, tax trivia and more. Corbis/VCG via Getty Images Newsletters /newsletters-old Newsletters /newsletters-old Money /money Taxes /taxes Personal Finance /personal-finance Editors' Pick editors-pick Newsletter newsletter Tax Breaks tax-breaks premium https://www.forbes.com/sites/kellyphillipserb/2026/06/18/irs-advisory-committee-pushes-for-better-tech-ai-transparency-and-less-paper/ The IRS Electronic Tax Administration Advisory Committee (ETAAC) has released its 2026 Annual Report to Congress. It includes 18 recommendations to Congress and the IRS. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a33d9f80e96ace3116b1640 Thu, 18 Jun 2026 16:36:26 -0400 2026-06-18T16:41:42-04:00 The IRS Electronic Tax Administration Advisory Committee (ETAAC) has released its 2026 Annual Report to Congress. It includes 18 recommendations to Congress and the IRS. getty Taxes /taxes Money /money Taxes /taxes Personal Finance /personal-finance Editors' Pick editors-pick money taxes premium https://www.forbes.com/sites/kellyphillipserb/2026/06/18/california-man-gets-27-months-for-tax-evasion-illegal-gambling-business/ A California man who admitted operating an illegal offshore gambling business, laundering cash proceeds and evading federal tax has been sentenced to 27 months in prison. Kelly Phillips Erb, Forbes Staff Kelly Phillips Erb, Forbes Staff https://www.forbes.com/sites/kellyphillipserb/ content_6a33e591e4d60dd44ba939f7 Thu, 18 Jun 2026 16:33:30 -0400 2026-06-18T16:33:45-04:00 A California man who admitted operating an illegal offshore gambling business, laundering cash proceeds and evading federal tax has been sentenced to 27 months in prison. getty Taxes /taxes Money /money Taxes /taxes Editors' Pick editors-pick money taxes premium