How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2023, you can ...

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 ...

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 ...

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 ...

Giving or receiving financial gifts can be a generous act, but it often comes with tax responsibilities that many overlook. The rules around tax filings after financial gifts are more complicated than ...

Lax review by the IRS opened the way for swindlers to file bogus Forms 941 and bag tax refund checks even after agency managers were informed of the risk from such business fraud, the Treasury ...

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 ...

The IRS has sent thousands of crypto warning letters, with a 758% spike in reports over 60 days. Even investors who reported taxes correctly are being flagged due to missing cost basis data. New Form ...

The IRS has proposed a step it believes will streamline the process of applying for a private letter ruling (PLR). And it wants to know what you think about it. The IRS on June 16 announced that it ...

Child care is expensive — and if you’re a working parent or caregiver, you’ve probably felt the sting. But here’s the good news: if you paid for child or dependent care so you could work or look for ...