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 ...

Taxpayers who want to claim some attractive new income tax deductions that were packed into the One Big Beautiful Bill Act will need to keep their records — and get ready to file yet another form to ...

Rajeev Dhir is a writer with 10+ years of experience as a journalist with a background in broadcast, print, and digital newsrooms. Ebony Howard is a certified public accountant and a QuickBooks ...

Rajeev Dhir is a writer with 10+ years of experience as a journalist with a background in broadcast, print, and digital newsrooms. Vikki Velasquez is a researcher and writer who has managed, ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Lea Uradu, J.D., is a Maryland state ...

Here’s how an IRS offer in compromise works, what it takes to qualify and what to know about the program. Many, or all, of the products featured on this page are from our advertising partners who ...

Californians received news that the IRS decided the tax fate of special state payments "stimulus checks" made to millions of people across the country during 2022. In California, those payments were ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, ...

Gambling taxes are common because the United States gaming industry is booming. From new casinos to lotteries and online sports betting, there are plenty of opportunities if you enjoy gambling. And ...

Merck (NYSE: MRK), known as MSD outside of the United States and Canada, announced today that it will present new findings ...