March 17, 2025, is a key tax deadline for businesses, but they can request an extension of time using Form 7004 through ...

The U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service (IRS). IRS penalties are typically assessed for violations of tax laws, such as misreporting ...

“For upper-middle-class taxpayers, the tax rate is often lower, especially if there are international sales that ... For 2024, you can contribute up to $7,000 or $8,000 if you’re 50 or older. As per ...

The IRS kicked off its tax season Jan. 27 and has issued statistics through Feb. 21. Both tax professionals and do-it-yourselfers seem to be lagging a bit when it comes to filing early returns.

Form 7217, Partner’s Report of Property Distributed by a Partnership, debuted for 2024, intended to apprise the IRS of factors in a partner’s basis computation.

A trove of cash could be forfeited if Californians fail to complete their 2021 tax returns by next month, according to the Internal Revenue Service. The IRS is currently sitting on about $92.3 ...

No one likes taxes -- especially President Donald Trump. If he has his way, income taxes will become a thing of the past, ...

and the drop may be due to certain family tax credits haven’t been delivered yet. The IRS reported that the average refund amount via direct deposit was $2,252 based on 33 million tax returns ...

The details of the IRS proposal to cut nearly 20 percent of its workforce by May 15—a day after Tax Day—were laid out in an email from DOGE and reported widely. It includes yet another round ...

These adjustments help prevent "bracket creep" due to inflation. What are the IRS tax refund amounts 2025 based on filing status? The IRS tax refund amounts for 2025 depend on income, deductions, and ...