IRS

Democrats are pushing their landmark climate and health care bill toward final congressional approval.

Inflation Reduction Act's $80 billion in IRS funding would come as the risk of getting audited is at a decade-long low.

The Senate approved nearly $80 billion in IRS funding with $45.6 billion for "enforcement." Here's who may be affected by more audits.

If your family has significant wealth, it's now easier to avoid federal estate taxes, thanks to recent changes from the IRS. Here's what to know.

Democrats are pushing the IRS to create its own free tax filing system, including a return-free option. But some tax professionals are skeptical.

While some retirees rely on the so-called 4% rule, another approach involves the required minimum distributions that come with 401(k) plans and non-Roth IRAs.

As the cost of living surges, Americans wrestle with higher prices on day-to-day costs. But higher taxes can be a sneaky added expense, especially for retirees.

U.S. Tax Commissioner Charles Rettig, who was appointed by President Trump in 2018, will face questions behind closed doors from lawmakers in the House and Senate before the end of the month.

Ex-FBI heads James Comey and Andrew McCabe were subjected to rigorous checks during Trump's presidency.

Two former FBI officials targeted by Trump were also targeted by the FBI. How unlikely is that? Very.

Former FBI director James Comey and his deputy Andrew McCabe were both axed during Donald Trump's presidency.

REAL ESTATE MATTERS | For 2022, the estate tax cutoff is $12.06 million. This means that if you die and your estate is valued at an amount lower than the $12.06 million limit, you owe no federal estate taxes at all.

REAL ESTATE MATTERS | The IRS has a rule that states that a homeowner may keep up to $250,000 (up to $500,000 if you’re married) in profits from the sale of a primary residence, as long as the owner has lived in the home for two of the past five years.

It is taking over a year for some people to get their refunds amid a shaky economy.

The IRS backlog of tax returns has swelled to over 21 million, despite efforts to clear the pileup, according to a watchdog report.

The IRS has expanded artificial intelligence-driven voice bots to tackle payment plans, according to the agency. But tax professionals remain skeptical.

The IRS will boost the standard mileage rate by 4 cents, to 62.5 cents per mile, starting on July 1. The midyear change is due to soaring gas prices.

The last chance to avoid late penalties for second-quarter tax payments is June 15, applying to income from self-employment, small businesses and more.

Millions of people received billions in aid through three rounds of checks after the onset of Covid-19. A look back at the government's giant relief effort.

The notices, called CP14 letters, are sent to people whom the IRS believes owe more in taxes.

If you work for a private company, one of the easiest ways to save for retirement is a company-sponsored 401(k) plan. Here's how you can take advantage of the retirement plan that's offered by many employers.

The IRS is working to increase its audit rates for the wealthiest Americans, according to a statement released by the agency.

If you're still waiting for a tax refund, you may receive 5% interest starting July 1, 2022, according to the IRS. Here's what else to know.

Five House Democrats are still fighting for relief on the $10,000 limit on the federal deduction for state and local taxes through the appropriations process.

With soaring prices and record home equity, you may expect a profit when selling your property. Here's how to lessen the tax bite.

Filers won't be affected by the IRS decision to destroy 30 million so-called paper information returns, the agency said.

The IRS destroyed an estimated 30 million so-called paper-filed information returns in March 2021, sparking anger from the tax community.

The San Antonio Taxpayer Assistance Center will be open from 9 a.m. to 4 p.m. on Saturday, May 14.

The IRS has announced inflation-adjusted health savings account limits for 2023.

If you filed an accurate tax return online, most refunds are arriving within 21 days, according to the IRS.

If you missed the April 18 tax deadline, you may cut back on penalties by filing your return promptly. Here's everything late filers need to know.

Here's what can happen if someone steals your Social Security number and finds employment using your name and personal information.

The tax deadline has passed but the frustration hasn't for many taxpayers who file for an extension, couldn't file electronically, never did reach anyone by phone to address their issues, or who are still waiting for their 2020 refunds from the IRS.

Millions of Americans file returns after the Tax Day deadline. If you're in that group, here's what determines how much you'll owe.

Millions of Americans file returns after the Tax Day deadline. If you're in that group, here's what determines how much you'll owe.

Millions of Americans file returns after the Tax Day deadline. If you're in that group, here's what determines how much you'll owe.

A woman has been sentenced to prison for preparing and filing false income tax returns,...

April 18 is the 2021 federal tax deadline for most Americans. Here's what to know before filing an extension or sending your return.

As of April 9, some 50 million Americans had yet to file their returns. Here's what to do if you need more time.

Taxes, 401(k) plans and IRAs are complicated. Here's everything you need to master the fundamentals of both your personal taxes and retirement options.

Monday is Tax Day, the federal deadline for individual tax filings and payments.

Millions of Americans wait until the last minute to file their taxes, and this year is no exception.

The iconic band’s upcoming North American tour brings singer Roger Daltrey and guitarist/songwriter Pete Townshend back after their 2019 tour.

Monday, April 18th, is the deadline to file your taxes. Filing your taxes in the post-COVID era can be complicated and confusing.

The IRS estimates that more than 3 million tax returns are still being processed from 2021.

Third stimulus payments worth up to $1,400 are still available if you haven't received them already.

If you're scrambling to finish your taxes, it's easy to overlook the forms needed for a complete and accurate return. Here are some of the most common mistakes.

Residents of Wyoming, Connecticut and New York lead the nation in getting bigger checks from the IRS. Here's why.

Millions of Americans file their tax returns in the last week of tax season. Here's how to do it without spending a dime.

Millions of Americans file their tax returns in the last week of tax season. Here's how to do it without spending a dime.

As of April 1, some 70 million Americans had yet to file their returns. Here's what to do if you need more time.

The House probe marks an escalation of years of controversy over the government’s growing reliance on facial recognition, which boiled over earlier this year after the IRS said it would require Americans to scan their faces in order to access their IRS tax accounts.

As the April 18 tax filing deadline nears, here are some tips for reducing what you owe or landing a bigger refund.

As of April 1, some 70 million Americans had yet to file their returns. Here's what to do if you need more time.

Ten people were shot and another 13 injured in the attack on a subway train Tuesday morning.

The IRS criminal investigation arm tasked with tracking down sanctioned Russian oligarchs' property failed to receive an infusion of money in the Ukraine aid package.

You likely know what “income” means, and of course you’re aware of federal and state taxes, and the fact that we have to do them (or have them prepared for us, in some cases), every year. But how much do you know about income tax overall?

Congress is racing to pass a mammoth $1.5 trillion legislative package that would fund the government for the rest of the year.

Whether you’re new to owning your own business or a seasoned vet, taxes can be so stressful. It’s easy to overlook things or simply forget an item here and there.

Tax season is officially here, meaning you have the next couple months to get those returns filed! This year’s IRS deadline is April 18.

Alternative finance has captured the attention of investors across the U.S. As the 2022 tax season approaches, traders who are new to cryptocurrency taxation will have to contend with the IRS’ rules for reporting on taxable events.

The White House and Treasury Department launched a revamped Child Tax Credit website meant to help people who were eligible for the expanded tax credit under last year’s pandemic relief bill claim the second half of the payment they were due.

U.S. taxpayers, brace yourselves because tax filing season starts Monday and you can expect the task to be more cumbersome than usual this year.

This season, the IRS will begin accepting returns on January 24. That's about two and a half weeks before last year's start date.

New tax laws are changing the way people who use payment apps have to file their taxes.

Here’s what you need to know during tax season if you received monthly child tax credit payments in 2021

For those who plan on donating to a charitable organization for Giving Tuesday, there could be some opportunities to receive money back when filing taxes next year.

Another round of child tax credit payments from the Internal Revenue Service is set to hit accounts of qualifying families on Monday but for people who had a baby in 2021, there might not be any advance payments at all.

Don't focus on the bottom line.

What does Bitcoin have to do with roads and bridges.

The first advance child tax credit payments have barely gone out and already scammers are trying to trick parents out of their money and sensitive financial information.

A Republican senator who helped negotiate a nearly trillion-dollar bipartisan infrastructure bill says a proposal to strengthen IRS enforcement to raise money to help pay for the bill's spending is officially off the table.

Most families of children age 17 and younger will begin seeing extra money in their accounts this week as the IRS sends the first monthly child tax credit.

Vice President Kamala Harris is visiting a child care center to highlight the Biden administration’s efforts to expand child care and relieve the financial pressures of parenthood.

Republicans in Congress are alarmed by the leak of confidential IRS data to ProPublica that has enabled the investigative news organization to reveal that famous billionaires including Warren Buffett, Bill Gates and Mark Zuckerberg paid little in U.S. income tax at times.

A U.S. tax court has handed a major victory to the estate of Michael Jackson in a years-long battle.

Financial readiness is critical before any potential natural disaster to ensure your hard-earned money, important documents and possessions are protected.

Taxes stressing you out? Community Tax can offer relief.

The meme, posted in 2018, not only gets the deadline wrong for the year it was posted, but it recently went viral, leading many on social media to believe the meme refers to this year’s tax returns.

A new scam targeting college educators and students is hitting inboxes and tricking recipients into giving up their personal information.

If you already anticipate needing some extra time to file your federal tax return, there’s some good news. You can always file for an extension.

If you grew up watching your parents get stressed around tax season, then you're probably not looking forward to filing yourself for the first time.

The Internal Revenue Service says it’s delaying the traditional tax filing deadline from April 15 until May 17. The new deadline does not apply to estimated tax payments that are due on April 15; those remain due by that day. The pandemic hit in the middle of last year’s tax filing season, setting the agency back in terms of processing. A number of lawmakers and professionals from the tax community have urged the tax filing season be extended to accommodate for these pressures. Rettig is expected to speak to the committee tomorrow about how the IRS is managing this filing season and the need for this extension.

If you're one of the many people expecting a refund from the government this tax season, hooray!

Even for those of us who think we have some knowledge about anything tax related, it can be a stressful time. And it's certainly not a time when you want to play a guessing game.

SAN ANTONIO – Like most Americans, Matthew Starcez is filing his tax return online. “We’ve been doing our taxes online for the last seven years,” he said. Even if someone steals your password, multi-factor or two-factor authentication could still stop them from getting into your account. But before you even file, security experts say it’s a good idea to make sure your sensitive online financial accounts and router are secure with strong passwords. It’s also available for Mac and Windows computers, but you may need to enable it in the security settings.

Even if we think we have some knowledge about anything tax-related, it can be a stressful time. And it's certainly not a time when you want to play a guessing game.

Tax season can be a reason to laugh, as these famous TV episodes showed.

A common aspect of the COVID-19 pandemic over the past two or so years has been more employees working remotely, but that doesn’t necessarily mean all those people were working from their homes.

Willie Nelson owed millions in taxes, so the IRS came up with an idea to help.

Tax season is busier than usual for professional athletes and the people they put in charge of their taxes.

These 10 celebrities found out the hard way not to mess with the IRS.

As people get ready to either file their tax returns or receive refunds from returns already filed for 2020, the IRS is still dealing with a big problem. In mid-February and based on data through Jan. 30, the IRS said it hadn’t yet processed 6.7 million individual income tax returns for 2019. The issue is so serious that the House Ways and Means Committee is asking the IRS to return the deadline for 2020 returns beyond April 15. AdIt remains unclear how much longer those anticipating their refunds from 2019 will have to wait, or if this year’s deadline will be extended. But for the IRS, it could be difficult to focus completely on 2020 in the coming months with millions of 2019 returns still not processed.

Are you knee-deep in receipts, 1099 forms and W2s? Or are you all done?

If you’ve finally gotten your taxes filed, you’re probably ready to put it all away and move on. Have you considered which documents you should keep? And for how long?

When it comes to tax write-offs, many people will stretch the limits to see what they can get away with.

It is easy to put off doing your taxes until the last minute. No one likes to deal with the IRS, and sometimes, procrastination happens as a result.

For those animal lovers who spend so much money on their pets and hope to recoup some of that cash spent when tax season arrives, this is the cold, hard reality: For the most part, you can’t.

SAN ANTONIO – The Internal Revenue Service is extending tax season deadlines for Texans affected by last week’s winter storms. Individuals and businesses included in the Federal Emergency Management Agency’s recent disaster declaration now have until June 15, 2021, to file their tax returns and pay anything they owe to the IRS. For example, individual tax returns and quarterly estimated income tax payments -- typically due on April 15 -- are now due on June 15. Affected taxpayers can deduct personal property losses not covered by their insurance or through other reimbursements, according to the IRS. For more information on the IRS’s changes for those affected by the winter storms, click here.

Regardless of whether you’ve paid someone for help or tried to do it on your own, even just gathering all the data you need for filing your federal income taxes can seem daunting.