Millions of Americans who rely on tips and/or overtime to bolster their income could be impacted by the new advice.

The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. IRS ...

If you lived or worked in Cleveland in 2021, you may receive an audit letter in the mail from the Central Collections Agency (CCA). Prince Andrew Stripped of Royal Title by King Charles VIDEO: 'Stupid ...

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 ...

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 ...

“Keep your eye on one thing and one thing only: how much the government is spending. Because that is the true tax.” – Milton Friedman There are many forms of taxation in the United States that ...

Why do you need a lawyer for an IRS audit? Have you received an IRS audit notification (IRS form letter 2205-A, 2205-B, or 566)? What do you need to know? Many taxpayers wonder why they were selected ...

"The IRS is aware and is working on the issue," said Barbara League, a partner at Orrick. "At this time, they have no estimated timeline during which it will be resolved." Attorneys and tax-exempt ...