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 ...

The IRS “one-time forgiveness” refers to the First-Time Penalty Abatement program, offering relief from certain penalties for compliant taxpayers.

Francisco Gil tried to claim his status as an independent contractor entitled him to tax deductions for travel, meals and ...

(NEXSTAR) – The self-described tax experts of TikTok and other social media sites have cost American’s $162 million in penalties since 2022, the IRS said in a news release Monday. Advice on the most ...

In our Ask the Editor round-up, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on the tax rules for ...

The IRS on Wednesday issued final regulations ( T.D. 10034) that remove the associated property rule and similar rules from regulations under Sec. 263A (f) regarding interest capitalization ...

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 ...

According to the agency, thousands of taxpayers have filed inaccurate returns after following misleading posts and bad actors posing as tax experts online. The problem prompted more than $162 million ...

The AICPA recommended in a letter that the IRS improve several tax forms used by estates and trusts, in keeping with an executive order mandating that federal tax payments and refunds be processed ...

If you are wondering about a tariff rebate, state or federal tax refund, inflation check, economic impact payment or a new, fourth stimulus check in 2025, here's a status update from the IRS and how ...

The income tax return (ITR) filing has started for the financial year 2024-25 (assessment year 2025-26). The income tax department has notified all seven income tax return forms for the assessment ...

Some 'no tax on tips' occupations might surprise you: Podcasters, social media influencers, plumbers and house painters. The new, special tax break on tips is retroactive and applies to eligible tip ...