Income Tax

While the cuts yielded benefits to Americans up and down the income scale, the benefits could best be described as modest.

Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

Despite its recent trendiness in certain circles, Direct File has little potential for good—and much for bad.

The new IRS Direct File tool represents government at its best: saving families time and money.

The new guidance pertains to the Inflation Reduction Act's 1% excise tax owed on corporate stock repurchases or buybacks.

When it comes to taxes, misleading information on social media can lead to financial or even legal problems, the IRS said.

The IRS told tax professionals last week it’s making changes that will impact how practitioners obtain a client's tax transcripts.

Residents of New York state are burdened by taxes the most, while Alaska residents have the lowest tax burden, a WalletHub study found.