There are three status updates which the taxpayer might see: “received return,” “refund approved,” or “refund sent.” If the ...

You could receive Form 1099-K for business payments from Venmo or PayPal this season. Here’s what taxpayers need to know.

or the additional child tax credit (ACTC). The extra time allows the IRS to match forms on their end with information reported by taxpayers, all in an effort to prevent fraud. This year ...

Robert W. Wood is a tax lawyer focusing on taxes and litigation. Closeup of Form 1099-NEC and 1099-MISC. The IRS has reintroduced Form 1099-NEC as the new way to ... [+] report self-employment ...

The federal government readjusts tax brackets and the annual standard deduction each year to keep up with inflation. One positive outcome of the inflation we've experienced over t ...

Even if canceled or forgiven debt was less than $600, the IRS still requires you to report it on your tax return (under the “other income” line on Form 1040 or 1040-SR). Form 1099-CAP ...

While the IRS issues most tax refunds within 21 days, some returns may require “additional review” and can take longer, according to the agency. Here’s a breakdown of the key tax forms you’ll need to ...

Luckily, while the Internal Revenue Service (IRS) might seem intimidating, it offers several options to help taxpayers manage their tax liabilities without facing extreme financial hardship.

If a U.S. citizen or resident received a gift or bequest from a foreign person after June 17, 2008, they may be required to file Form 708 and pay the Section 2801 transfer tax to the IRS.

You can use the IRS’s online Tax Withholding Estimator. Your second option is to use the Multiple Jobs Worksheet that's provided on page 3 of the W-4 form along with detailed instructions.

Although Texas imposes no state or income tax, there are important considerations for Texans from the Internal Revenue Service. The IRS released numbers for tax year 2024 last year, nudging most ...