Here is the main breakdown: These income thresholds are roughly 5.5% to 6% higher than those announced for the 2023 tax ...

Trimming the workforce will partially undo the Biden administration’s Inflation Reduction Act, which devoted $80 billion to employing 87,000 new IRS agents, according to a September 2023 report ...

During more than a decade in Congress, from January 2011 to January 2023, Long co-sponsored bills that would have curbed financial reporting to the IRS, ended the estate tax and replaced income ...

The agency announced guidance on the federal tax status of these state “stimulus” and other special payments made to individuals. The guidance, which applies to payments received in 2023 ...

Millions of casual online sellers can breathe a sigh of relief since a confusing and concerning $600 IRS reporting rule won’t go into effect as planned for 2023. This is the second time the IRS ...

Some inheritors of retirement accounts subject to a new 10-year payout window won't face penalties if they don't take required minimum distributions for 2023, according to guidance released last ...

the average tax refund in the 2024 tax season—for tax year 2023—was $3,138. Almost 105 million tax refunds were processed by the end of December, totaling more than $329 billion. Read More ...