If you earn tips or overtime, the IRS just made your 2025 tax season a little more interesting. A new draft form, Schedule 1-A, lets you claim deductions on those earnings, along with car loan ...

South Main Street in Sheffield, Illinois. The town is part of a 136-square-mile opportunity zone. The Treasury Department and the Internal Revenue Service issued guidance Tuesday on qualified ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation.

IRS employees who are on administrative leave once again have been given the option to take a deferred resignation offer, according to two people familiar with the situation. Those select employees ...

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 ...

As Delaware recorded some of the steepest increases in health care costs and premiums in 2023, top executives at the state’s largest nonprofit hospitals reported seven-figure salaries, according to ...

Logan Allec, CPA is the founder, owner, and president of tax relief services company Choice Tax Relief, which serves clients nationwide. For most small business owners, success is typically followed ...

The AICPA recommended in a letter that the IRS improve several tax forms used by estates and trusts, in keeping with an executive order mandating that federal tax payments and refunds be processed ...

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 ...