Filling Schedules FSI, TR, and FA in the ITR demands very careful reporting of foreign income, tax credits, as well as foreign assets. By adhering to the guidelines above and maintaining consistency, ...

Taxpayers are starting to see the effects of the new federal income tax brackets for 2025 in their first paychecks of the ...

Here are the tax brackets for 2024, which are the taxes you pay in 2025. Income tax is progressive: the more you earn, the ...

Donald Trump’s election with Republican House and Senate majorities has put the Internal Revenue Service back in the spotlight. The agency lost $20 billion in funding under the latest deal to avoid a ...

This year the IRS is giving eligible filers an affordable head start. Starting today, IRS Free File will begin accepting ...

Under the expansion, individuals who make up to $200,000, or joint filers who make up to $250,000, may be eligible to use the ...

The Child Tax Credit for 2024 is a tax benefit that provides financial relief to families with qualifying dependent children. For the 2024 tax year (taxes filed in 2025), the credit is worth up to ...

The deadline for fourth-quarter payments is Jan. 15. After that, penalties begin accruing on underpayments at a 7% rate.

With the new year in full swing, tax season is cut around the corner. Millions of Americans must file their 2024 returns to ...

Chicago: Attorney Michael Abramson, of Wilmette Illinois, has been convicted of tax fraud, attempting to tamper with a ...

A new tool will allow many taxpayers in Kansas to electronically file their taxes directly with the Internal Revenue Service ...

Having your tax records and other vital documents is important for claiming casualty loss deductions that can help with ...