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 ...

IRS: Taxpayers looking to claim some of the new deductions tucked into the recently passed One Big Beautiful Bill Act will need to prepare for extra paperwork. The Internal Revenue Service has ...

What do increased fraud, significant costs and operational inefficiencies all have in common? Paper checks, or, at least, those were the reasons cited when President Donald Trump issued an executive ...

The 2022 Inflation Reduction Act allocates $780 billion for climate change, including tax credits for clean energy. Homeowners can get a 30% tax credit for installing solar systems, boosting ...

The IRS has unveiled a draft of the new Schedule 1-A form, set to simplify claiming deductions for tips, overtime, auto loan interest, and senior benefits. As part of the OBBBA, this form aims to ease ...

Taxpayers who typically receive tax refunds by paper check could be surprised next year when the IRS initiates new steps to spur direct deposit.

KANSAS CITY, Mo. — The Internal Revenue Service (IRS) is holding a hiring event to fill more than 220 vacancies at its Kansas City, Kansas, service center. This event is open to the public. The event ...

The 2025 income limit for the tax credit for lower-income workers who save for retirement will increase slightly to $39,500 ...

High earners aged 50 and over will face new rules requiring 401(k) catch-up contributions in 2026. These contributions must ...