Taxation

Millions of taxpayers could be leaving thousands of dollars unclaimed each year by overlooking a little-known tax credit. The IRS says a large share of eligible filers never claim it,…

The IRS has issued a stark reminder to taxpayers about the consequences of neglecting official correspondence, warning that ignoring repeated alerts can ultimately lead to the seizure of personal property.…

IRS Unveils New Schedule for 'No Tax on Tips' Deduction, Offering Guidance to Millions of Workers. The temporary deduction, part of the One Big Beautiful Bill Act, allows eligible tipped…

Senators Bernie Sanders and Ro Khanna are proposing a bold new wealth tax on billionaires to fund $3,000 payments to working families. With Congress divided, this proposal aims to tackle…

The new federally backed Trump Accounts promise tax-deferred growth and a $1,000 government seed deposit for eligible children. But despite some promotional language, withdrawals are subject to income tax under…

The Internal Revenue Service has launched a new online page designed to streamline how taxpayers report suspected tax fraud, scams, and other illegal activity. The agency says the updated system…

The IRS has issued new guidance, clarifying how businesses can benefit from a special 100% depreciation tax break on production property, encouraging investment in U.S. manufacturing.

A new federal tax provision allows eligible tipped workers to deduct up to $25,000 in gratuities from taxable income. The measure, known as No Tax on Tips, is in effect…

The new SALT tax changes are set to deliver bigger refunds to residents in New York, New Jersey, and California. With the deduction cap rising to $40,000, taxpayers in these…

President Donald Trump says millions of Americans will see larger tax refunds this year under changes introduced in 2025. Early figures from the IRS show an increase compared with the…

The Department of Veterans Affairs maintains Dependency and Indemnity Compensation as a central survivor benefit. For eligible parents, 2026 payments remain tied to financial need and service connection.

More than one million veterans in California are now eligible for a new state income tax exclusion of up to $20,000. The measure takes effect alongside a consumer protection law…

Seniors aged 65 and older may be eligible for a $6,000 bonus tax deduction starting in 2025, but not everyone qualifies. Learn how this new tax break works, who can…

A new tax credit could provide car buyers with savings of up to $10,000 in 2025. If you meet eligibility requirements, you can deduct a portion of your car loan…

The IRS tax filing deadline has officially passed, and the penalties aren’t forgiving. Late, incorrect, or missing forms could trigger steep fines, interest, and legal pressure.

Income tax season is back, but not everyone needs to file this year. The IRS has released new guidelines for 2026. Age, income, and your job type might mean you're…

IRS urges eligible taxpayers to claim the Earned Income Tax Credit as nearly 20% of those qualified fail to file. Eligible workers could receive refunds worth thousands of dollars, but…

Refunds expected to rise by over $1,000 per filer on average, with some reaching $4,000. New retroactive tax provisions are credited for the increase, including deductions on tips, overtime, and…

Millions of Americans could see larger refunds this year. New deductions apply whether or not filers itemize, with notable benefits for workers, seniors and families.

At Davos, President Trump suggested a potential new tax benefit: allowing depreciation deductions on primary residences. The idea, still informal, comes as housing affordability remains a widespread concern in the…

Withdrawals from retirement accounts become mandatory at age 73, even for individuals who do not rely on them. The IRS uses a life expectancy formula to determine annual amounts, with…

New deduction rules to affect millions of U.S. taxpayers starting this year. IRS outlines guidance on overtime, car loans, and senior benefits in response to the OBBB Act.

Tax season opens early, but that doesn’t mean you should rush. With the IRS updating forms, credits, and systems, experts are sounding the alarm.

Property tax reform and income deduction shifts are set to reshape household finances across the U.S. next year. From eliminating school property taxes to raising the standard deduction, states are…

New legislation has locked in higher Child Tax Credit payments, but not everyone will benefit equally. From refund delays to new ID rules, here’s what could shape your 2026 tax…

A new deduction on auto loan interest is now in effect, promising moderate savings for Americans buying U.S.-assembled vehicles. The benefit, part of a broader economic policy shift, will apply…

During a cabinet meeting this week, President Donald Trump raised eyebrows by suggesting that Americans may no longer have to pay federal income tax in the near future. According to…

U.S. President Donald Trump has renewed his proposal to drastically reduce, and even eliminate, the federal income tax, positioning tariffs as the solution to replace the revenue generated by traditional…

As the Trump administration's tax reforms take hold, there’s growing concern about how changes will impact charitable giving in the U.S. Wealthy individuals, long the backbone of American philanthropy, stand…

Pennsylvania's new budget, signed into law by Governor Josh Shapiro, introduces a groundbreaking earned income tax credit, offering nearly $193 million in relief to the state’s working families. The move…

New York's Tax Rebate program provides relief for homeowners facing rising property taxes. Learn about the benefits and eligibility criteria.

Starting in 2025, the IRS will introduce a tax break allowing certain workers to deduct tip income. Discover which unexpected jobs may qualify for this new benefit.

Thousands of Americans are still waiting for their IRS tax refunds in September 2025. Several factors could be behind these delays, affecting when refunds are issued.

The IRS is preparing updated forms and guidance for 2026 to address new rules on tips and overtime pay under recent tax changes.

A $1,390 stimulus check is set to be issued by the IRS in mid-summer 2025, offering support to those facing financial challenges. Details on eligibility and payment methods remain limited…

The IRS is evaluating the potential removal of multilingual tax services, a move linked to President Trump's executive order establishing English as the official language. This decision could create challenges…

President Trump pledged to end taxes on Social Security benefits for seniors, a move that won widespread attention during his campaign. Now, a new deduction has arrived, but the math…

Newlywed? The IRS has important tips to avoid tax filing regrets. Follow this simple checklist to ensure a smooth process come 2026.

The IRS has quietly extended key tax deadlines for residents in several disaster-affected states. A new date has been set, and it could make a big difference for those still…

Selling your car might come with more than just extra cash. A little-known IRS rule could turn that deal into a taxable event. Many drivers overlook this until it's too…

The announcement is part of a broader effort by the IRS to address ongoing concerns about delays and confusion surrounding amended tax return processing.

The latest bill under President Trump promises major tax changes that could impact millions. With provisions eliminating taxes on tips, overtime pay, and some Social Security benefits, these reforms are…

The latest tax bill is shaking things up with major benefits for the wealthiest Americans. While the top 20% stand to gain over $6,000, the rest of the country may…

President Trump’s sweeping tax-cut and spending bill has cleared a crucial Senate hurdle, moving closer to passage. The legislation, which would extend tax cuts and fund military and border security…

Nearly 3 million New Yorkers will soon receive a property tax relief check as part of a $2.2 billion initiative. Find out how much you could get and when the…