To qualify for this tax credit, the child must: Be your son, daughter, stepchild, eligible foster child, brother, sister, ...

Plus: Average tax refunds, filing status, a new global tax deal, commuting expenses & business mileage, a closely watched tax ...

Are medical premiums tax deductible? You may be able to deduct your health insurance premiums if you are self-employed and ...

For example, Form 1099-NEC, used to report payments to independent contractors, must be furnished by February 2, 2026. As ...

Tax Day is coming, and soon it will be time to begin gathering forms. If you haven't looked at them yet, all those numbers and letters – W-2, W-9, 1099 – can easily overwhelm. Some forms are ...

Do you know what a W-2 form — officially termed Form W-2 by the IRS — actually is? According to the Tax Foundation, a majority of tax filers are unaware of basic tax concepts and requirements for ...

Parents who put money into their children’s “Trump Accounts” might face a headache come tax time: Even the smallest contributions may require them to fill out a little-used gift tax form that can take ...

A growing number of salaried taxpayers expecting refunds for Assessment Year 2025–26 are finding their income tax returns stuck for a long time. The Income Tax Department has temporarily put refund ...

The IRS issued guidance for workers eligible to claim the temporary deductions for tip and overtime compensation for tax year 2025 and is updating some income tax forms and instructions to help ...

Despite the government shutdown, the federal tax extension deadline is still Oct. 15 for most filers. The process could be harder for some taxpayers after the IRS furloughed nearly half of its ...