The Mega Millions jackpot grew to more than $1.6 billion on Aug. 9, 2023. Justin Sullivan | Getty Images State taxes can be hefty “None of these winners think about taxes until... Read more »
Songsak Rohprasit | Moment | Getty Images The tax deadline is approaching and some filers are turning to chatbots powered by artificial intelligence for help with returns. But taxpayers should be wary... Read more »
10’000 Hours | Digitalvision | Getty Images There’s still time to lower your 2023 tax bill or boost your refund with a lesser-known retirement savings strategy for married couples. One requirement for... Read more »
Damircudic | E+ | Getty Images The tax deadline is approaching and there’s still time to score a deduction with a pretax individual retirement account contribution — if you qualify. For 2023,... Read more »
Xavier Lorenzo | Moment | Getty Images There is officially one winner for the $1.128 billion Mega Millions jackpot — and the taxman will take a sizable share, experts say. A single... Read more »
The federal tax deadline is officially one month away for most filers — and experts say there are some key things to know this season. As of March 1, the IRS received... Read more »
Whether you’re a longtime crypto investor or recently purchased digital assets, here are some key things to know from crypto tax experts. How to answer Form 1040 ‘digital assets’ question Cryptocurrency has... Read more »
This combination of pictures created on February 17, 2024, shows U.S. President Joe Biden waving from the South Lawn of the White House in Washington, D.C., on June 1, 2023, and former... Read more »
Artistgndphotography | E+ | Getty Images Estimated state-by-state eligibility The Treasury estimates that 19 million taxpayers may be eligible to use Direct File this season, with the following breakdown in each pilot... Read more »
Shannonstent | E+ | Getty Images As the IRS bolsters its cryptocurrency expertise, tax professionals are bracing for increased scrutiny of digital currency. Digital assets are one of the agency’s “priority areas,”... Read more »
Klaus Vedfelt | Digitalvision | Getty Images ‘The Roth IRA is an incredible savings vehicle’ Roth individual retirement accounts require investors to pay taxes on the contributions they make now, rather... Read more »
IRS Commissioner Danny Werfel speaks at a Senate Finance Committee hearing in Washington, D.C., on April 19, 2023. Al Drago | Bloomberg | Getty Images After vowing in September to “substantially” reduce... Read more »
Violetastoimenova | E+ | Getty Images House lawmakers are weighing relief for a “marriage penalty” that impacts the federal deduction limit on state and local taxes, known as SALT. While the bill... Read more »
Image Source | Image Source | Getty Images As Americans file returns this season, some worry about IRS audits amid agency efforts to ramp up service, technology and enforcement. Recent IRS enforcement... Read more »
Artistgndphotography | E+ | Getty Images With tax season in full swing, the IRS has issued more than 2.6 million refunds worth about $3.65 billion, as of Feb. 2, the agency reported... Read more »
Witthaya Prasongsin | Moment | Getty Images If your tax refund or bill is bigger than expected, it could be time to adjust your paycheck withholding — and a simple calculation could... Read more »
Justin Paget | Digitalvision | Getty Images If you were fully remote or a hybrid worker in 2023, you may be curious about the home office deduction for your tax return. While... Read more »
Filing taxes is more expensive this year as the industry raises prices to combat a growing accountant shortage. The cost of tax preparation and accounting fees grew 8.3% in November 2023 compared... Read more »
Laylabird | E+ | Getty Images Tens of millions of Americans file tax returns every year — and many are missing a “valuable credit,” according to the IRS. In 2022, roughly 23... Read more »