IRS to give automatic tax penalty relief to eligible Americans, starting this summer. This is a major win for everyone, ...

The IRS recently rolled out a tool allowing taxpayers to file certain claims online instead of via certified mail.

A long-term capital gain or loss comes from the sale of an investment that was owned for longer than 12 months.

The Internal Revenue Service is restructuring the framework of its Security Summit public-private partnership to fend off tax-related identity theft, setting up five new work groups and coordinating ...

A revision of Form 990, Return of Organization Exempt From Income Tax, is coming, changes that Treasury says are designed to improve transparency, strengthen tax administration, and provide clearer ...

WASHINGTON—The Trump administration is scaling back tax enforcement, leaving fewer federal employees to audit returns, collect unpaid tax debts and deter Americans from skirting the law. The Internal ...

An IRS installment agreement allows taxpayers to pay off their tax debt over time through monthly payments. While these plans prevent aggressive collection actions, interest and penalties continue to ...

Four new tax deductions are available on federal returns for eligible taxpayers whether they itemize deductions, such as claiming mortgage interest, or claim the standard deduction. All four big tax ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Lea Uradu, J.D., is a Maryland state ...

One of the most tax-friendly provisions of an IRA is the ability for IRA owners who are at least age 70½ to donate up to $108,000 (2025 limit) directly to an eligible charity from their IRA. This is ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...