Do you use PayPal or Venmo? The IRS is giving you a break.
Tax agency also said it will boost the reporting threshold to $5,000, from $600, in 2024 as it phases in the new regulation.
Internal Revenue Service
The IRS released its 2024 tax brackets. Here's how to see yours.
The IRS is rolling out new income thresholds for its seven tax brackets, boosting the limits to reflect inflation this year.
House's Israel bill lacks support in Senate
The $14.5 billion military aid package for Israel passed in the House of Representatives Thursday is not expected to be considered by the Senate. CBS News congressional correspondent Scott MacFarlane reports on what this means for Israeli and U.S. priorities in the Middle East.
House GOP unveils $14.3 billion Israel aid bill that would cut funding to IRS
The House GOP's proposed bill cuts sets up a battle with the White House and the Senate over how to support Israel.
The IRS will soon set new tax brackets for 2024. Here's what to know.
The IRS is set to announce new tax bracket thresholds for the 2024 tax year. One expert says to expect a 5.4% increase from last year.
IRS to test free tax-filing platform in 13 U.S. states
The IRS is testing the free direct-file system for the 2024 tax season, with some people in 13 states invited to try it out.
IRS: Americans didn't pay billions in taxes
Americans failed to pay $688 billion in taxes on their 2021 returns, a record level, according to a new estimate from the IRS. The agency said that it is taking urgent steps to increase compliance such as auditing more high-income taxpayers as well as businesses and partnerships. Alex Raskolnikov, a tax law professor at Columbia Law School, joined CBS News to discuss how that happened.
Americans failed to pay a record $688 billion in 2021, IRS says
Americans owe the IRS $688 billion in unpaid taxes, underscoring need for more audits, said IRS Commissioner.
Whistleblower's lawyer on Biden-IRS lawsuit
Hunter Biden has filed a lawsuit against the IRS alleging privacy violations. The complaint cites an IRS whistleblower's interview on CBS News as well as with other outlets. CBS News senior investigative correspondent Catherine Herridge reports.
Hunter Biden sues IRS over privacy concerns
Hunter Biden is suing the IRS, claiming the agency illegally disclosed his tax return. The lawsuit cites an interview an IRS supervisor did with CBS News. Biden's filing also says proper safeguards were not in place to ensure confidentiality.
IRS says it is going after 1,600 millionaires for unpaid taxes
The tax agency vowed not to increase audit rates for people earning less than $400,000 annually.
IRS catch-up contribution mandate delayed
Last week, the IRS announced it is delaying until 2026 a mandate that says people 50 and older with high incomes are required to put "catch-up contributions" into Roth-style retirement accounts using post-tax dollars. Richard Rubin, a U.S. tax policy reporter for the Wall Street Journal, joined CBS News to discuss the delay in enforcement of the law, originally set to take effect next year.
What's next for Hunter Biden after deal snafu
The federal judge overseeing the Hunter Biden case raised questions Wednesday about the terms of a plea agreement made in June between Biden's lawyers and federal prosecutors. Without the judge's stamp of approval on the deal, the president's son pleaded not guilty to two misdemeanor tax charges. CBS News senior investigative correspondent Catherine Herridge joined with details from inside the Delaware courthouse.
IRS says agents will no longer make unannounced visits to taxpayers
The "major policy change" is aimed at reducing public confusion and improving safety for agents, the agency
Who are the Hunter Biden IRS whistleblowers?
Two IRS whistleblowers allege the Justice Department limited a tax investigation into Hunter Biden.
IRS whistleblower on Hunter Biden comes forward
The House Oversight Committee questioned IRS whistleblowers Wednesday over allegations the Biden family tried to improperly influence the IRS as it investigated Hunter Biden's tax case. CBS News senior investigative correspondent Catherine Herridge interviewed whistleblower Joseph Ziegler about the Biden case and has more.
Tips for planning your estate
New IRS guidelines are making it more difficult for grandparents to pass down savings without taxing their beneficiaries. So what factors do people need to consider when making a plan for their assets after they die? Jon Huntley, a senior economist at the Penn Wharton Budget Model, joined CBS News with some pointers.
Tax-prep firms shared consumer data with Meta and Google, lawmakers say
A report from Democratic lawmakers alleges that tax-prep companies shared people's income and other sensitive data with big tech firms.
Prosecutor denies IRS whistleblower claims
The federal prosecutor overseeing the investigation into Hunter Biden is refuting a claim by an IRS whistleblower in the probe. U.S. Attorney David Weiss says he was authorized by the Justice Department to make decisions about charges in the case. CBS News senior investigative correspondent Catherine Herridge reports.
Filing taxes jointly? Here's what name order says about your marriage.
A first-of-its-kind study finds strong correlations between married couples' name order, their finances and social views.
GOP leaders seek special counsel probe into Hunter Biden whistleblower claims
A group of Republican senators and representatives said IRS officials violated "anti-gag" rules that protect federal employees.
U.S. attorney defends Hunter Biden probe amid GOP accusations
Court filings unsealed earlier this month showed Weiss' office charged Biden with two misdemeanor tax counts and a felony gun charge.
IRS whistleblower speaks out on Biden case
Gary Shapley, the IRS whistleblower in the Hunter Biden tax investigation, said he feels Biden was given preferential treatment. In an exclusive interview with CBS News Chief Investigative Correspondent Jim Axelrod, he also said that he was told not to pursue steps that could involve investigating President Biden.
IRS whistleblower speaks out on Hunter Biden case
Gary Shapley, the IRS whistleblower in the Hunter Biden tax investigation, said he feels Biden was given preferential treatment. In an exclusive interview with Jim Axelrod, he also said that he was told not to pursue leads that could involve investigating President Biden.
IRS whistleblower on Hunter Biden plea deal
The IRS whistleblower who raised concerns about the Justice Department's investigation into Hunter Biden is now accusing federal prosecutors of offering a sweetheart deal to the president's son. Hunter Biden agreed earlier in June to plead guilty to tax and firearm-related charges. CBS News chief investigative correspondent Jim Axelrod reports.
CIA Director John Ratcliffe warned Russia not to attack NATO during secretive trip
The purpose of the CIA chief's visit to Moscow this week was to warn Russia not to attack NATO member states, people familiar with the matter said.
Scores killed, Americans among hundreds missing after Nepal flash floods
Flash floods tore through a valley in Nepal, sweeping away villages and hundreds of tourists, with Americans among the missing, authorities say.
ICE arrests of people without criminal records hit record high, new data shows
The surge in arrests comes as the White House pushes ICE to hit a target of 2,000 per day.
Live
Trump insists U.S. achieving "very big victory" in war with Iran
As the Iran war nears the six-month mark, President Trump said he has "no specific timetable" to resume peace talks.
Tim Curry, star of "The Rocky Horror Picture Show," dies at 80
Tim Curry was known for his iconic performances in cult classics like "The Rocky Horror Picture Show" and the original screen adaptation of Stephen King's "It."
Judge denies Minnesota's request to halt release of ICE officer Christian Castro
The officer accused a Venezuelan migrant of assaulting him with a broomstick and shovel, but investigators say footage from a nearby camera helped prove that was a lie.
Exclusive
Grand jury: DeSantis administration "misappropriated" $10 million
A Florida grand jury found the DeSantis administration misappropriated $10 million in taxpayer money for political purposes.
24 states sue to block new Postal Service rules for mail voting
The group of 24 states and the District of Columbia argues the Postal Service's new rule violates the Constitution and federal law.
Meta settles social media addiction suit for up to $17 billion
Meta agreed to pay up to $17 billion to settle allegations that its social media platforms are addictive.
U.S.
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NFL ends Pro Bowl after 75 years, will still honor roster at season's end
In a news release, the NFL said it plans to "elevate" Pro Bowl selections, with no replacement selections.
FDA approves new pancreatic cancer drug that could extend patients' lives
Patients taking the first-of-a-kind pill, called daraxonrasib, lived for a median of 13.2 months compared with 6.7 months for chemotherapy recipients, studies showed.
ICE arrests of people without criminal records hit record high, new data shows
The surge in arrests comes as the White House pushes ICE to hit a target of 2,000 per day.
Bill Gates issues stark warning about AI's impact on American jobs
In a nearly 6,000-word essay, Gates argues that artificial intelligence poses a mounting threat to U.S. workers.
Man convicted in Microsoft exec's murder in plot allegedly involving ex-wife
Prosecutors believe Jared Bridegan was killed because of ongoing strife with his former wife over the parenting of their twins.
MoneyWatch
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Bill Gates issues stark warning about AI's impact on American jobs
In a nearly 6,000-word essay, Gates argues that artificial intelligence poses a mounting threat to U.S. workers.
See which U.S. states are most at risk from Canadian tariffs
Canadian officials said the tariffs set to be imposed on more than 800 U.S. imports are "strategic" and designed to target some states.
Boston Scientific says a cyberattack is disrupting its global operations
Medical device maker said it is working to assess the scope of the attack and business interruption.
Meta settles social media addiction suit for up to $17.1 billion
Meta agreed to pay up to $17.1 billion to settle allegations that its social media platforms are addictive.
July PCE inflation index held at 3.7% annual pace, hotter than expected
The Personal Consumption Expenditures index was unchanged from June, highlighting stubborn inflationary pressures.
Politics
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CIA Director John Ratcliffe warned Russia not to attack NATO during secretive trip
The purpose of the CIA chief's visit to Moscow this week was to warn Russia not to attack NATO member states, people familiar with the matter said, amid U.S. assessments that Russia could try to test NATO.
Pentagon upgrades awards of 3 Marines for actions after Abbey Gate attack
Five years after the attack in Afghanistan that killed 13 service members, the Pentagon upgraded the awards of three Marines who provided care in the wake of the blast.
ICE arrests of people without criminal records hit record high, new data shows
The surge in arrests comes as the White House pushes ICE to hit a target of 2,000 per day.
24 states sue to block new Postal Service rules for mail voting
The group of 24 states and the District of Columbia argues the Postal Service's new rule violates the Constitution and federal law.
First on CBS
Trump hasn't decided on Leavitt's replacement as press secretary, sources say
President Trump hasn't settled on a replacement for White House press secretary Karoline Leavitt, whose last day is Friday, according to administration officials close to the situation.
HealthWatch
More HealthWatch
FDA approves new pancreatic cancer drug that could extend patients' lives
Patients taking the first-of-a-kind pill, called daraxonrasib, lived for a median of 13.2 months compared with 6.7 months for chemotherapy recipients, studies showed.
Secrets of the gut microbiome and how it impacts our long-term brain health
Dr. Laura Cox, an assistant professor at Brigham and Women's Hospital and Harvard Medical School, explains how our dietary patterns play a significant role in our gut and long-term brain health.
Pennsylvania records first 2 measles deaths in 35 years
Pennsylvania has recorded its first two deaths connected to measles in 35 years.
At least 1 in 4 ex-NFL players who died from 2016 to 2021 had CTE, study finds
The rate is much higher than is seen in the general population. CTE is a brain disease linked to repeated blows to the head.
Trump and Kennedy's health industry deals are at risk of vanishing
The agreements, covering issues like drug pricing, reducing the use of synthetic food dyes, and cutting back on insurance prior authorization rules, were announced with fanfare and touted as victories.
World
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CIA Director John Ratcliffe warned Russia not to attack NATO during secretive trip
The purpose of the CIA chief's visit to Moscow this week was to warn Russia not to attack NATO member states, people familiar with the matter said, amid U.S. assessments that Russia could try to test NATO.
Prince Harry and Meghan arrive back in U.K., BBC News reports
Prince Harry and Meghan, the Duke and Duchess of Sussex, returned to the U.K. from California on Wednesday, six years after their tumultuous departure, the BBC reports.
Scores killed, Americans among hundreds missing after Nepal flash floods
Flash floods tore through a valley in Nepal, sweeping away villages and hundreds of tourists, with Americans among the missing, authorities say.
U.S. military attacks alleged drug-smuggling boat in Caribbean, killing 4
The attack brings the number of people killed in such strikes by the U.S. military in the eastern Pacific Ocean and Caribbean Sea to at least 227.
Live
Trump insists U.S. achieving "very big victory" in war with Iran
As the Iran war nears the six-month mark, President Trump said he has "no specific timetable" to resume peace talks.
Entertainment
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Entertainment
"Rocky Horror" stars on film turning 10 (1985)
On Halloween 1985, Barry Bostwick and Richard O'Brien, stars of "The Rocky Horror Picture Show," joined CBS News to mark 10 years since the cult classic's release. Tim Curry, who portrayed the film's antagonist, Dr. Frank-N-Furter, died Tuesday at the age of 80.
Dolly Parton's free book club for children
Late country superstar Dolly Parton helped millions of children develop a love of reading through her free Imagination Library program. Hardin Engelhardt, chief learning officer at Marbles Kids Museum in Raleigh, North Carolina, joins "The Daily Report" to discuss.
Fans mourn Dolly Parton at Dollywood
Thousands buzzed into Dollywood on Wednesday, one day after Dolly Parton's family announced her death at 80 years old. Skyler Henry has more from the theme park she built.
Dollywood president remembers Dolly Parton
Tributes are pouring in from all over the country for legendary singer-songwriter Dolly Parton. CBS News correspondent Skyler Henry is at Dollywood, Parton's Tennessee theme park, with more.
Country stars react to Dolly Parton's death
Carly Pearce and Lauren Alaina, two of country music's hottest stars, spoke with "CBS Mornings" about Dolly Parton's influence on their careers and lives.
Technology
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Technology
Unpacking Nvidia's latest earnings report
Artificial intelligence juggernaut Nvidia blew past Wall Street's expectations for its latest quarterly earnings report, more than doubling its profits and revenue. Wall Street Journal tech reporter Robbie Whelan joins CBS News to discuss.
Breaking down Meta's $17 billion settlement
Meta has agreed to pay $17 billion to settle claims that its platforms lead to addiction in kids and teens, but is not admitting any wrongdoing despite implementing new safeguards. CNET reporter Katelyn Chedraoui joins "The Daily Report" to discuss.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Anticipation builds for new iPhone launch
Anticipation is building for Apple's annual iPhone launch event in September, where the company is expected to reveal its first foldable phone. Questions remain though on whether consumers will be willing to pay big bucks for this device. CNET senior technology reporter Abrar Al-Heeti joins CBS News to discuss.
What Meta's settlement could mean for its future
Meta has reached a landmark legal settlement with dozens of states over claims that the social media giant intentionally designed addictive platforms that harmed the mental health of teenagers. CBS News MoneyWatch correspondent Kelly O'Grady has the details.
Science
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Invasive Joro spiders are "slowly spreading." Here's what to do if you see one.
The Great Smoky Mountains National Park told visitors Tuesday that invasive Joro spiders "may be hanging in a web near you."
A summer of extremes: Weathering a hotter world
July was the hottest month ever in the Lower 48 States – another escalation of our world into a hotter, more dangerous planet, where extreme weather events – such as heat waves, wildfires and hurricanes – will become more common and more extreme.
A summer of extremes: Weathering a hotter world
July was the hottest month ever in the Lower 48 States, breaking a record last set during the Dust Bowl – just another step in the escalation of our world into a hotter, more dangerous planet. Correspondent Jonathan Vigliotti talks with climate journalist Jeff Goodell and atmospheric scientist Maria Molina about how changes in Earth's climate are increasing the likelihood that extreme weather events – such as heat waves, wildfires and hurricanes – will become more common and more extreme.
Views of the total solar eclipse in Europe
A total solar eclipse was visible in parts of Europe for the first time since 1912. Rob Marciano reports.
Europe sees total solar eclipse
A total solar eclipse turned day into night across a slice of Europe and North America on Wednesday, and put millions in unique contact with the heavens above. Meteorologist Rob Marciano reports from Spain.
Crime
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Crime
Mom breaks bus window to pull out her child
A mother was arrested for vandalism in California after smashing a school bus window to haul out her own child. Carter Evans has the story.
Clinical psychologist on postpartum psychosis
Heather Berlin, a neuroscientist, clinical psychologist and clinical professor at the Icahn School of Medicine at Mount Sinai, joins "The Daily Report" to explain the difference between postpartum depression and psychosis and what it means for Lindsay Clancy's murder trial.
Why Clancy wouldn't go free if found not guilty
Closing arguments in the Lindsay Clancy murder trial are set for Thursday. Clancy admitted to killing her children but says she isn't guilty, arguing that postpartum psychosis caused her actions. CBS News legal contributor Caroline Polisi joins with analysis.
Testimony wraps in Lindsay Clancy murder trial
Testimony concluded on Wednesday in the murder trial of Lindsay Clancy, the Massachusetts mother who admitted to killing her children but pleaded not guilty, arguing she had postpartum psychosis. CBS News correspondent Shanelle Kaul reports.
Man convicted in Microsoft exec's murder in plot allegedly involving ex-wife
Prosecutors believe Jared Bridegan was killed because of ongoing strife with his former wife over the parenting of their twins.
Space
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First on CBS
Trump to honor Artemis II crew with nation's top space medal
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
NASA's Swift telescope will plunge toward Earth after rescue mission called off
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
NASA images show 60-foot-wide crater on moon after SpaceX rocket booster crash
A NASA spacecraft circling the moon is providing the sharpest views yet of the crater carved by a crashing SpaceX rocket.
New space object called "black hole star" discovered by astronomers
The newly discovered object looks like a star the size of our solar system, but produces 100 billion times more energy than any star.
Stunning photos show total solar eclipse over Europe
The only total solar eclipse of 2026 crossed the Northern Hemisphere Wednesday, with a path of totality across parts of Greenland, Iceland and northern Spain. See photos and video from the best viewing locations.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Latest CBS News Videos
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Latest CBS News Videos
"Rocky Horror" stars on film turning 10 (1985)
On Halloween 1985, Barry Bostwick and Richard O'Brien, stars of "The Rocky Horror Picture Show," joined CBS News to mark 10 years since the cult classic's release. Tim Curry, who portrayed the film's antagonist, Dr. Frank-N-Furter, died Tuesday at the age of 80.
Mom breaks bus window to pull out her child
A mother was arrested for vandalism in California after smashing a school bus window to haul out her own child. Carter Evans has the story.
New Mexico residents fear data center's impact
CBS News reporter Riley Callanan traveled to New Mexico to see Project Jupiter, one of the country's biggest hyper-scale data centers, for herself. She spoke with residents and farmers about their fears, concerns and in some cases, hopes.
Unpacking Nvidia's latest earnings report
Artificial intelligence juggernaut Nvidia blew past Wall Street's expectations for its latest quarterly earnings report, more than doubling its profits and revenue. Wall Street Journal tech reporter Robbie Whelan joins CBS News to discuss.
Dolly Parton's free book club for children
Late country superstar Dolly Parton helped millions of children develop a love of reading through her free Imagination Library program. Hardin Engelhardt, chief learning officer at Marbles Kids Museum in Raleigh, North Carolina, joins "The Daily Report" to discuss.