The Internal Revenue Service Thursday released the updated tax brackets for the 2026 tax year. Changes to the standard deduction, earned income tax credit, estate tax credit, and more were also ...

The Internal Revenue Service continues to seek feedback regarding the draft instructions for Form 6765 and is extending the dates for reporting requirements related to the Credit for Increasing ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful ...

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...

The Internal Revenue Service has released a draft version of the 2026 Form W-2, Wage and Tax Statement, with new fields added to prepare the way for the tax exemptions on tips and overtime income ...

In a significant policy shift, the IRS has revised Form 14457, Voluntary Disclosure Practice Preclearance Request and Application, the cornerstone of its Voluntary Disclosure Practice (VDP), by ...

The recent IRS decision to allow religious organizations to endorse political candidates without losing their tax-exempt status contradicts a change to the tax code passed in 1954 known as the Johnson ...

"The IRS is aware and is working on the issue," said Barbara League, a partner at Orrick. "At this time, they have no estimated timeline during which it will be resolved." Attorneys and tax-exempt ...

Child care is expensive — and if you’re a working parent or caregiver, you’ve probably felt the sting. But here’s the good news: if you paid for child or dependent care so you could work or look for ...

Banks typically keep day-to-day transactions under wraps, but large or repeated deposits can spark mandatory reporting to the Internal Revenue Service (IRS). If you've just deposited a sizable check ...

The acting head of the IRS plans to resign after being bypassed over a new agreement to share the tax data of undocumented immigrants with Homeland Security personnel, according to two people familiar ...