Often federal tax returns are denied because of errors made by the taxpayer. These errors are often easily fixed if double-checked by taxpayer.

Your pre-tax IRA is subject to future income taxes, depending on your bracket. But it could offer planning opportunities, ...

Fortunately, you’ll find some light at the end of the tax year: federal tax credits and deductions that apply directly or indirectly to caregiving costs. Here are some ways family caregivers may be ...

Editor: Greg A. Fairbanks, J.D., LL.M. The IRS released a draft form in summer 2024, with subsequent revisions and draft instructions, that partners will use, starting with tax years beginning in 2024 ...

A tax shield is a reduction in taxable income for an individual or corporation achieved through claiming allowable deductions such as mortgage interest, medical expenses, charitable donations ...

To get a refund of excess or incorrectly withheld Part XIII tax, a non-resident has to fill out Form NR7-R, Application for Refund of Part XIII Tax Withheld. The CRA has to receive this form no later ...

The U.S. loses an estimated $1 trillion in unpaid taxes every year. Cutting Internal Revenue Service staff will only make this worse. While proponents of downsizing the IRS argue that reducing ...

Extension requests can be done through the IRS at no charge – both electronically and with a paper form 4868 – and require taxpayers to simply provide basic information like their names ...

WASHINGTON (AP) — The layoffs of roughly 7,000 IRS probationary workers beginning this week likely mean the end of the agency’s plan to go after high-wealth tax dodgers and could spell ...

One of President Trump’s objectives over the next four years is to have US revenues from tariffs become so massive that the Internal Revenue Service is no longer needed, his commerce secretary ...

More details have emerged from the Trump administration about alleged plans to get rid of the Internal Revenue Service (IRS) and utilize tariffs so the "whole economy explodes." "His goal is to ...