The Treasury Department and the IRS will need to roll out guidance on to explain the bill's newer provisions and how they differ from earlier tax legislation.

As a candidate, Trump promised to lift taxes on overtime. The new law allows workers to deduct up to $12,500 in overtime compensation (for single filers) or $25,000 (for joint filers). This deduction ...

We don't have any loans or long-term debt. Our house is worth $500,000 and our cars are paid off. We pay our credit cards in full every month. The children are grown up but our daughter is in medical ...

The law is creating backlash from the gambling industry and bettors who could owe taxes even if they break even.

Tax deductions introduced in the "One Big, Beautiful Bill" could benefit older and working Americans the next time they file taxes.

The bill includes several tax-related initiatives, one of which is the elimination of tax on tips. Here's what to know.

The almost 900-page bill has plenty to say about taxes, and an array of changes, new credits and deductions are part of the ...

As with tips and overtime, the IRS will provide transition relief for tax year 2025 for interest recipients—this means more ...

A new federal law has cracked open the door for car buyers to deduct interest on auto loans for the first time in decades, ...

Wisconsin Public Radio Madison resident Patrick Collins grew up working in the service industry as a busser, dishwasher, ...

Americans saving for retirement will benefit from increased contribution limits for their 401(k) accounts in 2025, following a decision by the IRS. However, these adjustments come alongside the ...

The Roth IRA is an Individual Retirement Account created in the United States in 1997. Unlike the Traditional IRA, which ...