Tax credits and tax deductions both decrease what you owe the IRS, but in different ways. Here's the difference, and how you ...

Taxpayers who want to claim some attractive new income tax deductions that were packed into the One Big Beautiful Bill Act will need to keep their records — and get ready to file yet another form to ...

Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to ...

Using a tax prep checklist can help reduce your tax-time stress. Here's a roundup of the documents and information you'll need to file your tax return this year.

The AICPA said taxpayers and tax professionals need certainty about how to claim the deductions for 2025. The IRS has said it will not update its forms until 2026.

One of the more touted provisions of the President Donald Trump’s “Big Beautiful” tax and spending bill, which was signed into law this summer, was a new deduction that reduces taxes on overtime wages ...

The IRS has announced an adjustment to the additional standard deduction for seniors in 2026, aimed at reducing taxable income and easing the tax burden for eligible retirees and older adults. This ...

Tax Form 1098 tells the IRS how much mortgage interest you paid last year. You may be able to deduct this amount on your Schedule A. Not all mortgage interest is tax deductible. If you have a mortgage ...

Plus: Proposed regulations for “no tax on tips,” new tax forms, Roth catch-up contributions, charitable donation deductions, state and local tax deductions, tax filing deadlines, tax trivia and more.

From standard deduction amounts to tax brackets and Medicaid cuts, here’s what individual filers need to know about tax ...

Plus: Lost refund checks, new addresses at the IRS, Taxpayer Assistance Centers are closing, gambling and the IRS, tax compliance and naturalization, tax filing deadlines, tax trivia and more. Quick ...