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

On November 21, 2025, the Internal Revenue Service (IRS) and the U.S. Department of the Treasury released guidance outlining ...

The IRS says it’s in the process of updating income tax forms and instructions for taxpayers to use this filing season that ...

Q: I am a sole practitioner and work from home. My computer, supplies, phone, etc., are at the home office. I do have an outside office available to me if needed, but it is part of a “virtual rental” ...

Generally, you need to apply to the IRS for a new Employer Identification Number, or EIN, for any new business. However, under certain conditions, you can use a previous EIN, such as for a limited ...

The IRS expects more than 140 million individual tax returns for tax year 2024 to be filed ahead of the federal deadline. Taxpayers residing in a federally declared disaster area may have additional ...

The deadline for filing federal tax returns for tax year 2024 is April 15, 2025. If you haven't filed yet, you might be able to do so for free online through the IRS Free File portal, which offers ...

It was indeed possible to claim tax deductions in certain scenarios, such as medical costs for licensed service animals, performance animals, donations to qualifying nonprofits that support animal ...

The IRS website has a wealth of resources for retirement plan professionals. Nonetheless, it can be difficult to find the information one needs. But there are ways to find what one needs, notes an ...