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 ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Lea Uradu, J.D., is a Maryland state ...

The AICPA on Thursday sent a letter to the IRS with recommendations to two areas of new instructions to Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent. The AICPA ...

Ever looked at your paycheck and wondered why your take-home pay seems off? It might have something to do with your W-4 form. If you’re starting a new job, picking up a side hustle or going through a ...

Tax underpayment penalty applies if taxes aren't withheld properly from paychecks or estimated taxes are late. IRS Form 2210 helps taxpayers determine if they owe a penalty, often calculated ...

Tax refunds give millions of Kentuckians a much-needed boosts to their bank accounts every year. While many rely on companies like H&R Block or other licensed tax specialists to handle the paperwork, ...

Draft instructions for Form 6765, "Credit for Increasing Research Activities," a.k.a. the research credit, are available for comment. The Internal Revenue Service is seeking feedback on the draft ...

As tax season approaches, seniors and retirees are gearing up to file their taxes, and the IRS Form 1040-SR has been designed to cater to their needs. TRAVERSE CITY ...

The ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement ...