"IRA deduction limits." Internal Revenue Service.“CFR 601.602: Tax Forms and Instructions,” Page 14. Internal Revenue Service. “American Opportunity Tax Credit.” Internal Revenue Service. “IRS ...

The IRS’s increased documentation requirements for Sec. 41 claims require taxpayers to specifically identify applicable business components and their costs and why their development is qualified ...

Taxpayers facing refund delays due to TDS mismatches in Form 26AS have a reason to cheer. A recent Allahabad High Court ...

The Allahabad High Court ruled that tax officers cannot withhold refunds solely due to mismatches with Form 26AS. Taxpayers ...

Massachusetts has a flat tax rate of 5%. An additional 4% tax is levied on income over $1 million, making the highest tax rate in the state 9%.

The IRS has also announced postponed dates caused by natural disasters. The timing varies by location, and includes places affected by storms, flooding, tornadoes, drought and more. Taxpayers who wish ...

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 ...

Taxpayers who want to claim some attractive new income tax deductions that were packed into the One Big Beautiful Bill Act will need to keep their records — and get ready to file yet another form to ...

some of them appearing in the calculation itself on the form. "Instructions for Schedule 1-A have not yet been released and may provide some additional helpful guidance," Luscombe said. What 'cash ...

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 ...

Plus: Lost refund checks, new addresses at the IRS, Taxpayer Assistance Centers are closing, gambling and the IRS, tax compliance and naturalization, tax filing deadlines, tax trivia and more. Quick ...