Regardless of when the government gets back up and running, it is likely that the effects of the reduced staff, reduced ...

The clock is ticking on 2025 payroll reporting, but the IRS just threw employers a lifeline. If your organization has been struggling to ...

The IRS and the Treasury Department issued guidance giving penalty relief to employers and other payors for tax year 2025 on ...

Tax professionals who fail to renew their PTINs before December 31 will be unable to prepare federal tax returns for compensation.

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 law, conceived under the One Big Beautiful Bill Act of 2025, is set to take effect in tax years 2025 to 2028. For now, however, it still is in a draft form, but is making waves throughout ...

The Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful ...

September 15 is a critical date for millions of taxpayers as the IRS requires quarterly estimated tax payments on income that isn't automatically subject to federal withholding—such as self-employment ...

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 ...

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 ...

IRS Form 5498 is one of the most overlooked but critically important IRA forms. While Form 1099-R usually gets attention during tax time for reporting distributions, Form 5498 plays a ...