The IRS has raised the standard deduction for married couples filing jointly to $32,200 for the 2026 tax year.

The new “no tax on tips” and “no tax on overtime” deductions require additional reporting by employers and payers. To help, the IRS is offering penalty relief in 2025.

Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to ...

New deductions will lower the tax bills for many Americans. Those who prefer to pay less in taxes throughout the year may want to adjust the amount withheld from their final paychecks of 2025.

The U.S. Department of the Treasury and Internal Revenue Service (IRS) has issued long-awaiting guidance in connection with the new ...

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 ...

An IRS notice says employers won’t face penalties if they don’t provide a separate accounting of cash tips and overtime compensation for tax year 2025 under H.R. 1.

After several key changes in 2025, experts are advising taxpayers to start preparing for the coming year now to avoid any costly mistakes.

For those not versed in the lingo of taxes, the distinction can be confusing. But understanding which path is right for you ...