Learn about the IRS’s new Code Y for reporting Qualified Charitable Distributions (QCDs) from IRAs, effective in 2025.

The Internal Revenue Service (IRS) on Thursday announced annual inflation adjustments for dozens of tax provisions, along with changes made under the One Big Beautiful Bill Act (OBBBA). The IRS' ...

If you earn money through a side hustle, run a small business, or get paid through apps like Venmo, PayPal, or Cash App, or sites like eBay, you’ve probably come across a lot of mixed messages about ...

The IRS furloughed almost half its workforce as the government shutdown entered its second week, the agency said Wednesday evening in its updated contingency plan. Earlier Wednesday, a public message ...

The 2025 income limit for the tax credit for lower-income workers who save for retirement will increase slightly to $39,500 for individuals. The IRS published a draft of the 2025 version of Form 8880, ...

The Internal Revenue Service continues to seek feedback regarding the draft instructions for Form 6765 and is extending the dates for reporting requirements related to the Credit for Increasing ...

The time it takes to receive a federal income tax refund could drag out six weeks and more next year for many people who are bound and determined to receive a paper check in the mail. Beginning next ...

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 ...

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 ...

The Internal Revenue Service is no longer issuing paper tax refunds after September, according to a news release published by the department. On Sept. 23, the agency said it will transition to fully ...