Could decades of careful student loan payments end with a surprise bill from the IRS? For millions of federal borrowers on ...

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 ...

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 ...

Wondering if you’ll owe federal gift tax in 2025? You’re probably in the clear. Most people never pay the gift tax thanks to generous annual and lifetime ...

Ever look at your paycheck and wonder why the amount you actually take home is a lot less than you’ve earned? That’s where withholding tax comes in. Withholding tax is money your employer sends ...

"The IRS is aware and is working on the issue," said Barbara League, a partner at Orrick. "At this time, they have no estimated timeline during which it will be resolved." Attorneys and tax-exempt ...

Child care is expensive — and if you’re a working parent or caregiver, you’ve probably felt the sting. But here’s the good news: if you paid for child or dependent care so you could work or look for ...

Getting something you expected to pay for at a deep discount or even for free is exciting. In the case of forgiven debt, however, you may learn the deal wasn’t quite as good as you thought. If a ...

For the first time, the IRS has issued an official form to be used for making an election under Section 83(b) of the Internal Revenue Code. Until the IRS issued Form 15620 in late 2024, taxpayers used ...

Headlines and updates on sweeping changes to operations and staffing with regards to numerous federal agencies, and now implementing new tariffs, as we enter tax filing season may have people even ...

A classically trained French hornist by education, Nick Wolny is a managing editor at CNET Group, where he oversees the Perspectives franchise and written branded content across CNET Group's ...