A landmark federal court decision has opened the doors to COVID-era tax refunds for millions of U.S. taxpayers. In Kwong v. United States, the U.S. Court of Federal Claims determined that the COVID-19 ...

One of the most tax-friendly provisions of an IRA is the ability for IRA owners who are at least age 70½ to donate up to $108,000 (2025 limit) directly to an eligible charity from their IRA. This is ...

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 ...

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 CONVERSATION — Although coverage of the 2024 election was dominated by the economy, taxes didn’t get much attention in the run-up to the vote. That’s a bit of a surprise, since 2025 will be a ...

Hunter Biden pled guilty on Thursday to an armload of federal tax crimes. But when will the Internal Revenue Service plead guilty to stealing the 2020 election for Joe Biden? The coverup of Hunter’s ...

Forbes contributors publish independent expert analyses and insights. Ashley L. Case, J.D., LL.M., writes about tax and estate planning. Form 56 serves as a conduit of communication between taxpayers ...

The Internal Revenue Service is holding on to $1 billion in unclaimed refunds for those who didn’t file their federal taxes in 2020. The average median refund is $932, and the deadline to claim the ...

There is $1 billion in unclaimed 2020 tax refunds and the deadline to collect the money is approaching. Nearly 940,000 taxpayers have until May 17 to file 2020 returns and claim their refund. Pending ...

WASHINGTON — The IRS is warning nearly 1 million taxpayers that they may be leaving more than $1 billion on the table because they never filed a 2020 return. The federal tax collector said Monday that ...