As tax season approaches, it's crucial to stay informed about the latest updates to IRS Form 1040 and its schedules.

Taxpayers face a learning curve for figuring out how key tax deductions in the mega tax bill will work when they file 2025 ...

The IRS has unveiled a draft of the new Schedule 1-A form, set to simplify claiming deductions for tips, overtime, auto loan interest, and senior benefits. As part of the OBBBA, this form aims to ease ...

Plus: Lost refund checks, new addresses at the IRS, Taxpayer Assistance Centers are closing, gambling and the IRS, tax ...

The 2025 income limit for the tax credit for lower-income workers who save for retirement will increase slightly to $39,500 ...

Quarterly estimated tax payments apply to individuals and businesses whose income is not fully covered by withholding.

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 ...

Health Savings Account (HSA) contributions are reported to the account owner on Form 5498-SA. This form is issued by the financial institution. Pre-tax contributions made through the payroll deduction ...